Key Details
Price
$4.74Last Dividend
$0.04Annual ROE
7.06%Beta
0.55Events Calendar
Next earnings date:
Feb 07, 2025Recent quarterly earnings:
Nov 08, 2024Recent annual earnings:
Aug 28, 2024Next ex-dividend date:
Jan 29, 2025Recent ex-dividend date:
Nov 26, 2024Next split:
N/ARecent split:
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Recent major analysts updates
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Institutional Ownership
NEW YORK, Nov. 22, 2024 (GLOBE NEWSWIRE) -- Priority Income Fund, Inc. (“Priority Income Fund” or the “Fund”) announced today that it will redeem all outstanding shares of its 6.250% Series G Term Preferred Stock Due 2026 (CUSIP: 74274W 814; NYSE: PRIF PRG) (the “Series G Preferred Shares”) at a price of $25 per Series G Preferred Share, plus accrued but unpaid dividends per Series G Preferred Share from September 30, 2024, to but excluding, the Redemption Date (the “Redemption Price”). The redemption date will be December 23, 2024 (the “Redemption Date”).
NEW YORK, Nov. 21, 2024 (GLOBE NEWSWIRE) -- National Property REIT Corp. (“NPRC”) announced today it recently sold its Dylan at Grayson (“Dylan”) multifamily residential property in Grayson, Georgia, for $56.7 million, achieving a 1.7 times cash on cash return on the investment acquired in December 2020.
NEW YORK, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ: PSEC) (“Prospect”) announced today that Grier Eliasek, President and Chief Operating Officer is scheduled to participate at the Markets Group Private Credit Conference. Mr. Eliasek is planned to present on the panel “New Ways to Counter Today's Headwinds with Opportunistic and Niche Credit Strategies” on Wednesday, December 4, 2024, at 10:10am.
NEW YORK, Nov. 08, 2024 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ: PSEC) (“Prospect”, “our”, or “we”) today announced financial results for our fiscal quarter ended September 30, 2024.
NEW YORK, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ: PSEC) (the “Company” or “Prospect”) 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 September 30, 2024 on Friday, November 8, 2024. The Company also expects to issue its earnings press release on Friday, November 8, 2024, before the opening of the markets.
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.
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.
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.
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 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.
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