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

Earnings data Q4 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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Prospect Capital saw its NAV per share fall by 33 cents year-over-year during its recently reported quarter. Dividend coverage at 133% remains significant, but it is down from 150% a year ago. Net investment income per share dipped by 3 cents year-over-year, with the outlook for a recovery made dark with Fed rate cuts on the horizon.

Prospect Capital: 13.4% Dividend Yield, But Will NAV Dip Forever?

Prospect Capital Corporation (PSEC) Q2 2024 Earnings Call Transcript

Prospect Capital (PSEC) came out with quarterly earnings of $0.24 per share, beating the Zacks Consensus Estimate of $0.22 per share. This compares to earnings of $0.27 per share a year ago.

Prospect Capital (PSEC) Q2 Earnings Surpass Estimates

NEW YORK, Feb. 08, 2024 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ: PSEC) (“Prospect”, “our”, or “we”) today announced financial results for our fiscal quarter ended December 31, 2023.

Prospect Capital Announces December 2023 Financial Results and Declares 80th Consecutive $0.06 Dividend

NEW YORK, Feb. 06, 2024 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ: PSEC) (the “Company”) today announced it expects to file with the Securities and Exchange Commission its report on Form 10-Q containing results for the fiscal quarter ended December 31, 2023 on Thursday, February 8, 2024 after the close of the markets. The Company also expects to issue its earnings press release on Thursday, February 8, 2024 after the close of the markets.

Prospect Capital Schedules Second Fiscal Quarter Earnings Release and Conference Call

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Investors can learn a lot by following the behavior of company insiders when it comes to how they handle positions in their own company.

Prospect Capital CEO Unloads Shares as Stock Rebounds

Prospect Capital Corporation is a popular stock for income investors due to its monthly dividend of $0.06. PSEC has underperformed compared to other Business Development Companies in terms of price and total returns over the past 3, 5, and 10 years. PSEC's dividend has remained stagnant at $0.06 for the past 7 years, while other BDCs have raised their dividend and paid out special and supplemental dividends.

Prospect Capital: Quantity Over Quality

Prospect Capital is a well-diversified BDC with solid asset quality and a low ratio of non-performing loans in its portfolio. The BDC has strong dividend coverage on a 5-quarter rolling basis, with a dividend coverage ratio of 152%. Prospect Capital trades at a massive discount to net asset value, making it an attractive buy for income investors.

Prospect Capital: 3 Reasons To Buy This Mediocre 12% Yield (Rating Upgrade)

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12% To 18% Dividend Yields In Danger

Business Development Corporations offer high yields for income investors. Prospect Capital Corporation has shown strong performance and growth in net investment income. PSEC offers a double-digit yield and is undervalued compared to its peer group.

Prospect Capital Is Interesting, Yielding 11.69% And Trading At A Discount To Its Peers

PSEC is the fifth largest BDC in terms of the underlying NAV base with a focus towards conventional private credit opportunities (with an exception of CLOs, which are insignificant in PSEC's case). Since 2023 (last year), PSEC has consistently outperformed the BDC market. This has pushed the dividend above the average, while having the second lowest leverage in the BDC sector. In this article I explain why I rate PSEC a hold despite the size benefits, de-risked balance sheet and zero non-accrual loans.

Prospect Capital: Attractive Entry Point For Investors Willing To Take Risk

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November Readers Noted 27 Ideal-To-Buy Dividend Dogs

The central bank's announcement of interest rate cuts in 2024 caused stock prices to fluctuate. Prospect Capital is a business development company that may benefit from the change in interest rates. PSEC has a lower percentage of floating-rate loans and solid credit quality, making it an attractive passive income investment.

Prospect Capital: Why I Am Doubling Down On This 12% BDC Yield Before The End Of 2023

NEW YORK, Dec. 18, 2023 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ: PSEC) (“Prospect”, “our”, or “we”) today announced that it held its annual meeting of stockholders (the “Annual Meeting”) on December 18, 2023. The proposals that were considered at the Annual Meeting are described in detail in the Company's definitive proxy statement for the Annual Meeting as filed with the Securities and Exchange Commission on September 20, 2023 (the “Proxy”). As of September 19, 2023, there were 408,132,468 shares of the Company's common stock outstanding, 30,780,669 shares of the Company's 5.50% Series A1 Preferred Stock outstanding, 164,000 shares of the Company's 5.50% Series A2 Preferred Stock outstanding, 5,909,671 shares of the Company's 5.35% Series A Fixed Rate Cumulative Perpetual Preferred Stock outstanding, 3,155,352 shares of the Company's 5.50% Series M1 Preferred Stock outstanding, 21,471,177 shares of the Company's 6.50% Series A3 Preferred Stock outstanding, and 2,870,854 shares of the Company's 6.50% Series M3 Preferred Stock outstanding. Each share of preferred stock is entitled to one vote on the one matter to be voted on by holders of the preferred stock at the Annual Meeting. There are no matters to be voted on by holders of the common stock at the Annual Meeting. To afford additional time to solicit stockholder votes for the proposal found in the Proxy, the Annual Meeting has been adjourned until December 22, 2023, at 3:30 p.m., Eastern Time, at www.virtualshareholdermeeting.com/PSEC2023.

Prospect Capital Announces Annual Meeting Update

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Buying a business development company (BDCs) is kinda, sorta like investing like a venture capitalist (VC).

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Business development companies have been a popular asset class as the Fed has raised interest rates. We compare two popular high-yielding BDCs today. We give you four good reasons to make a switch between Prospect Capital Corporation and TriplePoint Venture Growth.

4 Reasons To Dump TriplePoint Venture For Prospect Capital

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Imagine stocks or funds that pay out their dividends once a month! Unlike waiting for quarterly, semi-annual or (ugh) annual payouts, your angst awaiting money is reduced by 300% or more! These December U.S. exchange-traded monthly-paid (MoPay) dividends, upsides, and net gains include: 1. Stocks by yield (79); 2. Stocks by price upside (30); 3. Closed-End-Investments, Exchange-Traded Funds & Notes (CEICs/ETFs/ETNs) by yield >9.5% (80). Items: 1. Top MoPay stock gains; 2. Overall best MoPay gainers; 3. Funds vs. Equities; 4. Fund risks/rewards. All per prices as of 12/8/23.

79 Monthly-Paying Dividend Stocks And 80 Funds For December

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Each share has a yield of at least 12%, or will after the call date passes. Most are common shares, including one I haven't published anything positive about in a very long time. Discount to book value is a huge factor in evaluating the potential upside. We want shares that can see prices rally in addition to a big yield.

12% Yield Or Greater Plus Upside

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We take a look at the action in preferreds and baby bonds through the first week of December and highlight some of the key themes we are watching. Preferred stocks had a strong return of over 3% this week, pushing the sector to a 7% return for the year. BDC Prospect Capital completed a tender offer of their public preferred Series A, with low participation due to falling yields.

Preferreds Weekly Review: PSEC Sneaks In A Tender Offer For Series A

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We take a look at the action in business development companies through the last week of November and highlight some of the key themes we are watching. BDCs were flat on the week, while November came in as the best month for the sector in over a year. We, once again, discuss the pitfalls of running BDC screens.

BDC Weekly Review: Take (Even More) Care With BDC Screens

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NEW YORK, Dec. 08, 2023 (GLOBE NEWSWIRE) -- Keefe, Bruyette & Woods, Inc., a leading specialist investment bank to the financial services and fintech sectors, and a wholly owned subsidiary of Stifel Financial Corp. (NYSE: SF), announces the upcoming index rebalancing for the fourth quarter of 2023.

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News for Prospect Capital ETF (PSEC)