Gladstone Investment Co. (NASDAQ:GAIN) to Issue Monthly Dividend of $0.08

Gladstone Investment Co. (NASDAQ:GAIN) declared a monthly dividend on Tuesday, October 8th, Wall Street Journal reports. Shareholders of record on Tuesday, October 22nd will be given 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 is Tuesday, October 22nd.

Gladstone Investment has a payout ratio of 91.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. 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 traded hands, compared to its average volume of 150,819. The firm has a market cap of $520.25 million, a price-to-earnings ratio of 5.68 and a beta of 1.33. The company’s 50 day simple moving average is $13.39 and its two-hundred day simple moving average is $13.78. Gladstone Investment has a 12-month low of $12.25 and a 12-month high of $14.96.

Gladstone Investment (NASDAQ:GAIN) last issued its quarterly earnings data on Monday, August 5th. The investment management company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). Gladstone Investment had a return on equity of 7.20% and a net margin of 78.48%. The firm had revenue of $22.18 million during the quarter, compared to analysts’ expectations of $24.27 million. During the same period in the previous year, the firm earned $0.25 EPS. Research analysts expect that Gladstone Investment will post 1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Gladstone Investment from a “hold” rating to a “sell” rating in a research report on Tuesday, October 15th. B. Riley cut their price objective 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.

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.