GLAD's valuation has decreased but remains relatively high, with a 17.38% premium to NAV, making it still expensive despite recent price declines. The current dividend yield is 7.9%, but the low coverage rate of 101% raises concerns about its sustainability in a high-interest rate environment. Non-accruals have slightly increased to 7.5% of cost, indicating some portfolio stress, and GLAD underperforms peers with lower non-accrual rates.
Gladstone Capital's improving internal risk ratings and low PIK income are positives, but rising non-accruals and barely covered dividends pose significant risks. The BDC's portfolio quality has improved, but the weakened US economic outlook and potential global trade war impacts remain concerns. Despite the dividend being covered by net investment income, the low coverage ratio and 18% premium to NAV make GLAD a hold, not a buy.
Gladstone Capital (GLAD) came out with quarterly earnings of $0.50 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.25 per share a year ago.
MCLEAN, VA / ACCESS Newswire / May 6, 2025 / Gladstone Capital Corporation (Nasdaq:GLAD) (the "Company") today announced earnings for its second quarter ended March 31, 2025. Please read the Company's Quarterly Report on Form 10-Q filed today with the U.S. Securities and Exchange Commission (the "SEC"), which is available on the SEC's website at www.sec.gov and the Investors section of the Company's website at www.GladstoneCapital.com.
MCLEAN, VA / ACCESS Newswire / May 5, 2025 / Gladstone Capital Corporation (Nasdaq:GLAD) announces the following event: What: Gladstone Capital Corporation's Second Fiscal Quarter ended March 31, 2025 Earnings Call & Webcast When: Wednesday, May 7, 2025 @ 8:30 a.m. Eastern Time Website: Click Here How: By webcast -- Log on to the web at the address above By phone -- Please call (866) 424-3437 Contact: Gladstone Capital Corporation, (703) 287-5893 A conference call replay will be available after the call and will be accessible through May 14, 2025.
Gladstone Capital (GLAD) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.
MCLEAN, VA / ACCESS Newswire / April 8, 2025 / Gladstone Capital Corporation (Nasdaq:GLAD) (the "Company") announced today that its board of directors declared the following monthly cash distributions for April, May and June 2025 and also announced its plan to report earnings for its second fiscal quarter ended March 31, 2025. Cash Distributions: Common Stock: $0.165 per share of common stock for each of April, May and June 2025, payable per the table below.
Gladstone Capital is recommended as a 'Buy' for long-term income investors, with a 7.2% dividend yield. GLAD has shown strong price performance, with a 150% 5Y price return and 290% total return, outperforming the BIZD. The company's low leverage (0.68x) mitigates the impact of both the small portfolio size and the 7.4% decline in TII.
GLAD's current premium to NAV is unjustified due to weakening earnings, increased non-accruals, and poor dividend coverage, leading to a sell rating. Despite GLAD's attractive 7% dividend yield and monthly payouts, the dividend coverage is weak, risking potential cuts if portfolio conditions worsen. GLAD's portfolio is diversified but small, with significant exposure to floating rate investments. This increases the overall vulnerability and impact of underperforming borrowers.
Gladstone Capital (NASDAQ:GLAD ) Q1 2025 Earnings Conference Call February 12, 2025 8:30 AM ET Company Participants David Gladstone - CEO Michael LiCalsi - General Counsel and Secretary Bob Marcotte - President Nicole Schaltenbrand - CFO and Treasurer Conference Call Participants Mickey Schleien - Ladenburg Thalmann Robert Dodd - Raymond James Operator Greetings, and welcome to the Gladstone Capital Corporation First Quarter Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded.
Although the revenue and EPS for Gladstone Capital (GLAD) give a sense of how its business performed in the quarter ended December 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Gladstone Capital (GLAD) came out with quarterly earnings of $0.50 per share, missing the Zacks Consensus Estimate of $0.53 per share. This compares to earnings of $0.54 per share a year ago.