Gladstone Capital: NAV Is Growing And Valuation Is Attractive (Rating Upgrade)

Gladstone Capital is upgraded to a buy, trading at a 10.35% discount to NAV despite stable portfolio performance. GLAD's net investment income rose to $0.52 per share, covering its 9.4% dividend yield with a 116% payout ratio. Portfolio NAV has remained stable year-over-year, while share price declined 27.1%, presenting an attractive entry point.