Gladstone Investment Co. (NASDAQ:GAIN – Get Free Report) announced a monthly dividend on Tuesday, July 9th, Wall Street Journal reports. Shareholders of record on Wednesday, August 21st will be given a dividend of 0.08 per share by the investment management company on Friday, August 30th. This represents a $0.96 dividend on an annualized basis and a yield of 7.18%. The ex-dividend date of this dividend is Wednesday, August 21st.
Gladstone Investment has a dividend 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 $1.05 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 91.4%.
Gladstone Investment Stock Performance
GAIN stock opened at $13.37 on Tuesday. The company has a market capitalization of $490.53 million, a P/E ratio of 5.39 and a beta of 1.32. The company has a fifty day moving average price of $13.79 and a 200-day moving average price of $13.95. Gladstone Investment has a 52-week low of $12.14 and a 52-week high of $14.96.
Analysts Set New Price Targets
A number of equities analysts recently commented on the company. LADENBURG THALM/SH SH reaffirmed a “neutral” rating and issued a $14.00 price objective on shares of Gladstone Investment in a research note on Thursday, May 9th. B. Riley dropped 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 report on Wednesday, August 7th.
Get Our Latest Stock Analysis on GAIN
Gladstone Investment Company Profile
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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