GLAD Reports NII of $0.2100 compared to a Div of $0.21/quarter
What They Earned Gladstone Capital Corp. reported for Q1-16 ending 3-31-16 (or what GLAD calls its 2nd quarter) Total Investment Income of $9.456 million, or $0.4039/share. Net Investment Income was $4.917 million or $0.2100/share. The NII/TII ratio was 52%. Net Increase in Net Assets Resulting from Operations was - $6.139 million, or - $0.2622/share. Net asset value was $7.92/share compared to $8.38 last quarter - a fall of 5.5%.
The analyst consensus numbers from Yahoo Finance:
|Earnings Est||Current Qtr.
|No. of Analysts||2.00||2.00||2.00||2.00|
|Year Ago EPS||0.18||0.23||0.84||0.84|
|Revenue Est||Current Qtr.
|No. of Analysts||2||2||2||2|
|Year Ago Sales||9.22M||9.94M||38.06M||41.30M|
My historical context spreadsheets:
|Realized & Unrealized Gains||-11.056||-13.463||-10.176||-1.529||5.849||-3.360||18.549||-25.238||-6.587||6.096||23.968||-6.469||-9.966|
|Realized & Unrealized Gains/share||-$0.4722||-$0.5934||-$0.4846||-$0.0728||$0.2785||$0.1600||$0.8854||-$1.2018||-$0.3137||$0.2903||$1.1413||-$0.3080||-$0.4746|
|Total investment income||9.456||10.060||10.174||9.935||9.223||8.726||8.682||10.180||9.331||8.392|
|Net investment income||4.917||4.759||5.480||4.836||3.693||3.691||4.410||5.063||4.485||4.410|
|Investments @ fair value||0.293||0.300||0.366||0.347||0.364||0.327||0.281||0.265||0.293||0.283|
|Wt Av Share Count||23.413||22.687||21.000||21.000||21.000||21.000||21.000||21.000||21.000||21.000|
|Wt Av Yield||11.2%||11.3%||11.3%||11.2%||11.3%||11.5%||11.6%||11.5%||11.6%||11.6%|
On 4-29-16 GLAD at $7.64 sold at a yield of 10.99%. A BDC with poor dividend coverage and a falling NAV should not sell at a yield that is lower than its portfolio weighted average yield.
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