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Prospect CapitalNASDAQ: PSEC

Profile

Country:

United States

IPO:

27 July 2004

Next earnings report:

08 November 2024

Last dividends:

29 October 2024

Next dividends:

N/A
$2.23 B
-36%vs. 3y high
69%vs. sector
-96%vs. 3y high
69%vs. sector
-32%vs. 3y high
12%vs. sector
-82%vs. 3y high
89%vs. sector

Price

after hours | Fri, 01 Nov 2024 23:59:38 GMT
$5.15-$0.04(-0.77%)
$44.23 M$204.76 M
$44.23 M$29.56 M

Analysts recommendations

Institutional Ownership

PSEC Latest News

PSEC: Trades At A Discount For A Reason
seekingalpha.com03 November 2024 Sentiment: NEUTRAL

Prospect Capital (PSEC) operates as a business development company that generates its earnings through a portfolio of various debt investments. PSEC maintains a primary exposure to the real estate sector. This presents unique sensitivity to changes in the interest rate. The current dividend yield sits above 14% but the coverage remains thin. An decrease in portfolio quality could negatively impact the coverage.

Prospect Capital Corporation Closes $764 Million of New Investments in Fiscal Year June 2024
globenewswire.com15 October 2024 Sentiment: POSITIVE

NEW YORK, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ: PSEC) (“Prospect”) closed $764 million of new investments during its fiscal year ended June 30, 2024, investing in 38 new and existing portfolio companies.

Prospect Capital Corporation Extends and Increases Revolving Credit Facility to Over $2.1 Billion of Aggregate Commitments
globenewswire.com07 October 2024 Sentiment: POSITIVE

NEW YORK, Oct. 07, 2024 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ: PSEC) (“Prospect”) extended and increased total commitments for its revolving credit facility (the “Facility”) for Prospect Capital Funding LLC, a GAAP consolidated subsidiary of Prospect, with the most recent upsize in the quarter ended September 30, 2024.

Prospect Capital Celebrates its 20th Anniversary as a Leading Provider of Private Debt and Equity to U.S. Middle-Market Companies with Over $20 Billion Invested and More than 300 Portfolio Company Exits
globenewswire.com03 October 2024 Sentiment: POSITIVE

NEW YORK, Oct. 03, 2024 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ: PSEC) (“Prospect”) announced Prospect has surpassed its 20th anniversary as one of the largest ($7.9 billion in total assets as of the recently completed fiscal year end) and longest running publicly traded business development companies (“BDCs”).

Prospect Capital: The Yield Is Not Worth The Risk
seekingalpha.com02 October 2024 Sentiment: NEGATIVE

Prospect Capital has consistently failed to generate sufficient cash flow to cover dividends, leading to a significant risk of future dividend cuts. The company's NAV per share has declined substantially, eroding shareholder value due to poor financial management and unproductive investments. Issuing preferred stock has diluted common shareholders' value and further strained dividend coverage, with cash available for common dividends covering only 63% in FY 2024.

Prospect Capital Announces June 2024 Financial Results and Declares 86th Consecutive $0.06 Dividend
globenewswire.com28 August 2024 Sentiment: POSITIVE

NEW YORK, Aug. 28, 2024 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ: PSEC) (“Prospect”, “our”, or “we”) today announced financial results for our fiscal quarter and fiscal year ended June 30, 2024.

Prospect Capital Schedules Fiscal Year Earnings Release and Conference Call
globenewswire.com27 August 2024 Sentiment: POSITIVE

NEW YORK, Aug. 27, 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-K containing results for the fiscal year ended June 30, 2024 and to issue its earnings press release Wednesday, August 28, 2024 after the close of the markets.

Prospect Capital: Lack Of Distribution Increases Limits Appeal
seekingalpha.com28 June 2024 Sentiment: NEGATIVE

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 Is A Steal
seekingalpha.com26 May 2024 Sentiment: POSITIVE

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: Dividend Safety And Valuation Attractive, But Weaker Fundamentals Concerning
seekingalpha.com25 May 2024 Sentiment: NEUTRAL

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.

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What type of business is Prospect Capital?

Prospect Capital Corporation is a business development company. It specializes in middle market, mature, mezzanine finance, later stage, emerging growth, leveraged buyouts, refinancing, acquisitions, recapitalizations, turnaround, growth capital, development, capital expenditures and subordinated debt tranches of collateralized loan obligations, cash flow term loans, market place lending and bridge transactions. It also makes real estate investments particularly in multi-family residential real estate asset class. The fund makes secured debt, senior debt, senior and secured term loans, unitranche debt, first-lien and second lien, private debt, private equity, mezzanine debt, and equity investments in private and microcap public businesses. It focuses on both primary origination and secondary loans/portfolios and invests in situations like debt financings for private equity sponsors, acquisitions, dividend recapitalizations, growth financings, bridge loans, cash flow term loans, real estate financings/investments. It also focuses on investing in small-sized and medium-sized private companies rather than large public companies. The fund typically invests across all industry sectors, with a particular expertise in the energy and industrial sectors. It invests in aerospace and defense, chemicals, conglomerate services, consumer services, ecological, electronics, financial services, machinery, manufacturing, media, pharmaceuticals, retail, software, specialty minerals, textiles and leather, transportation, oil and gas production, coal production, materials, industrials, consumer discretionary, information technology, utilities, pipeline, storage, power generation and distribution, renewable and clean energy, oilfield services, healthcare, food and beverage, education, business services, and other select sectors. It prefers to invest in the United States and Canada. The fund seeks to invest between $10 million to $500 million per transaction in companies with EBITDA between $5 million and $150 million, sales value between $25 million and $500 million, and enterprise value between $5 million and $1000 million. It fund also co-invests for larger deals. The fund seeks control acquisitions by providing multiple levels of the capital structure. The fund focuses on sole, agented, club, or syndicated deals.

What sector is Prospect Capital in?

Prospect Capital is in the Financial Services sector

What industry is Prospect Capital in?

Prospect Capital is in the Asset Management industry

What country is Prospect Capital from?

Prospect Capital is headquartered in United States

When did Prospect Capital go public?

Prospect Capital initial public offering (IPO) was on 27 July 2004

What is Prospect Capital website?

https://www.prospectstreet.com/corporate-profile/

Is Prospect Capital in the S&P 500?

No, Prospect Capital is not included in the S&P 500 index

Is Prospect Capital in the NASDAQ 100?

No, Prospect Capital is not included in the NASDAQ 100 index

Is Prospect Capital in the Dow Jones?

No, Prospect Capital is not included in the Dow Jones index

When was Prospect Capital the previous earnings report?

No data

When does Prospect Capital earnings report?

The next expected earnings date for Prospect Capital is 08 November 2024