Gladstone Capital

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.» Mehr auf seekingalpha.com

Gladstone Capital. (NASDAQ:GLAD ) Q2 2025 Earnings Conference Call May 7, 2025 8:30 AM ET Company Participants David Gladstone - CEO Eric Helmut - General Counsel and Secretary Bob Marcotte - President Nicole Schaltenbrand - CFO and Treasurer Conference Call Participants Mickey Schleien - Ladenburg Thalmann Erik Zwick - Lucid Capital Markets Operator Greetings.» Mehr auf seekingalpha.com

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.» Mehr auf seekingalpha.com