Gladstone Investment Corporation (NASDAQ:GAIN – Get Free Report) declared a monthly dividend on Tuesday, October 13th. Investors of record on Friday, October 23rd will be given a dividend of $0.08 per share by the investment management company on Friday, October 30th. This represents a $0.96 annualized dividend and a yield of 6.3%. The ex-dividend date of this dividend is Friday, October 23rd.
Gladstone Investment has raised its dividend by an average of 0.1% per year over the last three years. 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 analysts expect Gladstone Investment to earn $1.00 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 96.0%.
Gladstone Investment Trading Down 0.2%
GAIN opened at $15.32 on Wednesday. The stock has a 50-day moving average of $16.06 and a 200 day moving average of $15.85. Gladstone Investment has a 12 month low of $13.11 and a 12 month high of $17.14. The firm has a market cap of $610.04 million, a P/E ratio of 3.67 and a beta of 0.76.
Institutional Investors Weigh In On Gladstone Investment
Several institutional investors have recently made changes to their positions in the company. Cetera Investment Advisers boosted its stake in Gladstone Investment by 2.3% in the first quarter. Cetera Investment Advisers now owns 31,653 shares of the investment management company’s stock valued at $449,000 after acquiring an additional 717 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in Gladstone Investment in the second quarter worth $123,000. Greenwood Gearhart LLC acquired a new position in shares of Gladstone Investment during the first quarter worth $254,000. Independent Financial Group LLC acquired a new position in shares of Gladstone Investment during the first quarter worth $355,000. Finally, Confluence Investment Management LLC acquired a new position in shares of Gladstone Investment during the second quarter worth $572,000. Institutional investors own 11.85% of the company’s stock.
About Gladstone Investment
Gladstone Investment Corporation (NASDAQ:GAIN) is an externally managed business development company that invests in established lower-middle-market businesses in the United States. The company seeks to provide capital to privately held companies that may have limited access to traditional financing.
Gladstone Investment primarily invests through secured and unsecured debt, subordinated debt and equity securities. Its investment activities support transactions such as management buyouts, recapitalizations, acquisitions and growth initiatives.
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