Gladstone Investment Co. (NASDAQ:GAIN – Get Free Report) declared a monthly dividend on Tuesday, October 8th, Wall Street Journal reports. Investors of record on Tuesday, October 22nd will be paid a dividend of 0.08 per share by the investment management company on Thursday, October 31st. This represents a $0.96 dividend on an annualized basis and a yield of 6.77%. The ex-dividend date of this dividend is Tuesday, October 22nd.
Gladstone Investment has a payout ratio of 91.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Gladstone Investment to earn $0.97 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 99.0%.
Gladstone Investment Price Performance
NASDAQ GAIN traded down $0.04 during trading on Monday, reaching $14.18. 167,081 shares of the company’s stock were exchanged, compared to its average volume of 150,819. Gladstone Investment has a fifty-two week low of $12.25 and a fifty-two week high of $14.96. The stock has a market capitalization of $520.25 million, a P/E ratio of 5.68 and a beta of 1.33. The business has a 50 day moving average price of $13.39 and a 200-day moving average price of $13.78.
Analyst Ratings Changes
A number of research firms have recently weighed in on GAIN. B. Riley reduced their price target on shares of Gladstone Investment from $14.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. StockNews.com lowered shares of Gladstone Investment from a “hold” rating to a “sell” rating in a report on Tuesday, October 15th.
Read Our Latest Stock Report on Gladstone Investment
About Gladstone Investment
Gladstone Investment Corporation is business development company, specializes in lower middle market, mature stage, buyouts; refinancing existing debt; senior debt securities such as senior loans, senior term loans, lines of credit, and senior notes; senior subordinated debt securities such as senior subordinated loans and senior subordinated notes; junior subordinated debt securities such as subordinated notes and mezzanine loans; limited liability company interests, and warrants or options.
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