2024-06-09 06:00:00 ET
Summary
- Gladstone Capital is a quality monthly-paying BDC with a respectable track record and performed strongly with its share price up roughly 20% in the past year.
- The BDC reported a slight decline in net investment income but saw growth in total investment income and overall portfolio fair value.
- The company's dividend coverage is tight, and its share price may be overvalued, warranting a hold rating for now.
- As a result of their performance, the BDC now trades near its 52-week high of $22.84 and above its 3-year premium of roughly 14%.
- GLAD has been increasing its exposure to first-lien, senior secured loans, increasing its overall portfolio quality.
Introduction
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Gladstone Capital: Monthly 8.7% Yielding BDC I Would Buy On A Pullback