Prospect Capital

Prospect Capital Corp. is a business development company, which engages in lending to and investing in private businesses. It also involves in generating current income and long-term capital appreciation through debt and equity investments. The company was founded on April 13, 2004 and is headquartered in New York, NY.

Earnings data Q3 2021

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Prospect Capital posts solid Q3 results amidst credit risk concerns

Prospect Capital demonstrated a strong financial performance in Q3 2024, supported by robust net investment income and NAV growth.
While facing challenges such as increased nonaccruals and moderate leverage, the company's diversified portfolio and shareholder distributions are key strengths.
Opportunities lie in portfolio expansion through originations, leveraging the success in structured credit business, and optimizing credit risk management.

Prospect Capital reports robust Q4 earnings, eyes diversified growth

Prospect Capital Corporation delivered solid financial performance in the June quarter, with steady net investment income and a well-diversified portfolio. While facing moderate leverage and the need to manage structured notes exposure, the company's expertise in private investments and shareholder distributions are key strengths. Opportunities lie in leveraging the portfolio's composition for stable income and exploring growth potential in property investments.

Prospect Capital posts solid Q1 results amidst diversification challenges

Prospect Capital delivered a strong performance in Q1, maintaining a robust financial position.
While facing challenges related to interest rates and portfolio diversification, the company is well-positioned to capitalize on growth opportunities.
Strategic focus on core business and prudent financial management are key strengths driving Prospect Capital's performance.

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PSEC offers a high distribution yield of 12.8% and trades at a significant discount to its net asset value. However, this discount doesn't necessarily mean that PSEC is a buy. The majority of PSEC's investments are within the real estate sector, which may be impacted by rising interest rates. PSEC's dividend has remained the same since 2017, showing inconsistent growth compared to peers, especially internally managed BDCs.

Prospect Capital: Lack Of Distribution Increases Limits Appeal

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Prospect Capital is trading at a 38% discount to net asset value, potentially offering investment gains. The BDC has solid balance sheet quality with a low non-accrual percentage and strong distribution coverage. Prospect Capital has high insider ownership and a decoupled valuation, making it a potentially attractive investment for dividend investors.

Prospect Capital: This 13% Yield Is Safer Than Investors Think (Rating Upgrade)

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Prospect Capital Corporation's loan quality and dividend coverage remain healthy. The BDC is originating new loans, which will contribute to its net investment income and potentially improve dividend coverage. Despite a 37% discount to net asset value, the stock's 13% yield makes it a worthwhile investment for passive income investors.

Prospect Capital Is A Steal

Prospect Capital's share price has declined double-digits over the past year due to weaker fundamentals and portfolio quality. The company's declining financials and NAV erosion are concerning, but it still offers a monthly dividend with a comfortable coverage ratio. The stock is undervalued with a P/NAV ratio of 0.63x, but risks include exposure to the high interest rate environment and real estate market.

Prospect Capital: Dividend Safety And Valuation Attractive, But Weaker Fundamentals Concerning

Prospect Capital's monthly cash dividend remains unchanged at $0.06 per share, resulting in a 12.7% dividend yield. The BDC's net investment income for the third quarter beat consensus but was down sequentially and from the year-ago quarter. Prospect Capital is not fully covering its current dividend distributions. This could be ominous as the Fed looks set to cut interest rates.

Prospect Capital: The 12.7% Dividend Yield Could Be At Risk

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Prospect Capital Corporation (NASDAQ:PSEC ) Q3 2024 Earnings Conference Call May 9, 2024 10:30 AM ET Company Participants John Barry - Chairman & Chief Executive Officer Kristin Van Dask - Chief Financial Officer Grier Eliasek - President & Chief Operating Officer Conference Call Participants Operator Good day, and welcome to the Prospect Capital Third Quarter Fiscal Year 2024 Earnings Release and Conference Call. All participants will be in listen-only mode.

Prospect Capital Corporation (PSEC) Q3 2024 Earnings Call Transcript

Prospect Capital (PSEC) came out with quarterly earnings of $0.23 per share, beating the Zacks Consensus Estimate of $0.20 per share. This compares to earnings of $0.26 per share a year ago.

Prospect Capital (PSEC) Q3 Earnings Beat Estimates

NEW YORK, May 08, 2024 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ: PSEC) (“Prospect”, “our”, or “we”) today announced financial results for our fiscal quarter ended March 31, 2024.

Prospect Capital Announces March 2024 Financial Results and Declares 84th Consecutive $0.06 Dividend

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PSEC offers a monthly dividend distribution of $0.06/share that has not grown since 2017. There are better alternative BDCs out there offering superior portfolio investments that have better capitalized on the higher interest rate environment. Interest rates remain a threat to PSEC's total Net Investment Income. Rate cuts are anticipated in the latter half of 2024 and can result in lower profitability metrics.

Prospect Capital: Potentially Impacted By Interest Rate Cuts (Rating Downgrade)

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Prospect Capital's stock price dropped 7% after reporting quarterly earnings, despite well-covered dividends and a low non-accrual ratio. Passive income investors have an opportunity to buy shares at a discount to net asset value. Prospect Capital's portfolio is well-diversified and its non-accrual situation is exceptionally good, making it a favorable investment.

Prospect Capital: Time To Double Down And Secure A 13% Yield

News for Prospect Capital ETF (PSEC)