Gladstone Investment Co. (NASDAQ:GAIN – Get Free Report) announced a monthly dividend on Tuesday, October 8th, Zacks 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 annualized dividend and a dividend yield of 6.75%. The ex-dividend date of this dividend 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 fall. 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 Stock Performance
NASDAQ:GAIN opened at $14.22 on Friday. The stock has a 50-day simple moving average of $13.39 and a 200 day simple moving average of $13.78. Gladstone Investment has a 52-week low of $12.25 and a 52-week high of $14.96. The company has a market cap of $521.72 million, a PE ratio of 5.73 and a beta of 1.33.
Analysts Set New Price Targets
Several analysts recently issued reports on GAIN shares. StockNews.com lowered Gladstone Investment from a “hold” rating to a “sell” rating in a report on Tuesday, October 15th. B. Riley decreased their target price on shares of Gladstone Investment from $14.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th.
Read Our Latest Stock Analysis on GAIN
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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