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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Earnings data Q4 2024

Earnings data Q1 2025

Earnings data Q2 2025

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 covered its dividend with net investment income in the September quarter. The dividend for now appears to be safe, the pay-out ratio is close to 80%.

Prospect Capital: NAV Drop, Dangerous 9.5% Dividend Yield

NEW YORK, Nov. 14, 2022 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (the “Company”) today announced that it has commenced a cash tender offer (the “Tender Offer”) to purchase any and all of the outstanding notes listed below. The Tender Offer will expire at 5:00 p.m., New York City time, on November 18, 2022, or any other date and time to which the Company extends the Tender Offer (such date and time, as it may or may not be extended, the “Expiration Time”). The Tender Offer is made pursuant to an Offer to Purchase dated today and related notice of guaranteed delivery, which set forth the terms and conditions of the Tender Offer.

Prospect Capital Corporation Announces Launch of Cash Tender Offer For Any and All of its Outstanding 5.875% Senior Notes due 2023

Prospect Capital Corporation (NASDAQ:PSEC ) Q1 2023 Earnings Conference Call November 10, 2022 10:00 AM ET Company Participants John Barry – Chairman and Chief Executive Officer Grier Eliasek – President and Chief Operating Officer Kristin Van Dask – Chief Financial Officer Conference Call Participants Operator Good day and welcome to the Prospect Capital First Quarter Fiscal Year 2023 Earnings Release and Conference Call. All participants will be in a listen-only mode.

Prospect Capital Corporation (PSEC) Q1 2023 Earnings Call Transcript

Prospect Capital (PSEC) delivered earnings and revenue surprises of 25% and 3.62%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?

Prospect Capital (PSEC) Tops Q1 Earnings and Revenue Estimates

NEW YORK, Nov. 09, 2022 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ: PSEC) (“Prospect”, “our”, or “we”) today announced financial results for our fiscal quarter ended September 30, 2022.

Prospect Capital Announces September 2022 Results: $0.22 per Common Share Basic Net Investment Income and Stable Monthly $0.06 per Common Share Distributions

PSEC is a BDC with a growing private REIT inside of it, currently trading at a ~30% discount to NAV. Interest rate sensitivity suggests growing rates to be a net positive for the fund, which already covers the distribution.

Prospect Capital: It's Not Worth It

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NEW YORK, Oct. 24, 2022 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (the “Company”) today announced the results of its previously announced cash tender offer (the “Tender Offer”) to purchase any and all of the outstanding notes listed below. The Tender Offer was made pursuant to an Offer to Purchase dated October 17, 2022 (the “Offer to Purchase”), which set forth the terms and conditions of the Tender Offer.

Prospect Capital Corporation Announces Results of Cash Tender Offer For Any and All of its Outstanding 5.875% Senior Notes due 2023

NEW YORK, Oct. 07, 2022 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ: PSEC) (“Prospect”, “our”, or “we”) announced today that Prospect has added new 6.50% Series A3 and M3 Preferred Stock to our ongoing offering of up to $1.5 billion of non-traded preferred stock (the “Offering”), which is being raised in the private wealth, registered investment advisor, and institutional channels. The Offering has approximately $611 million now available for sale.

Prospect Capital Corporation Announces New 6.50% Series A3 and M3 for Current Non-Traded Preferred Stock Offering

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Where Prospect Capital Clearly Beats Ares Capital

Prospect Capital (PSEC) is technically in oversold territory now, so the heavy selling pressure might have exhausted. This along with strong agreement among Wall Street analysts in raising earnings estimates could lead to a trend reversal for the stock.

Down 15.7% in 4 Weeks, Here's Why Prospect Capital (PSEC) Looks Ripe for a Turnaround

Prospect Capital (PSEC) Loses 14.9% in 4 Weeks, Here's Why a Trend Reversal May be Around the Corner

Prospect Capital's portfolio is performing well (right now). The BDC's portfolio health remained solid in the last quarter, and non-accruals remained low.

Prospect Capital: I'll Love It At $5

NEW YORK, Sept. 09, 2022 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ: PSEC) (“Prospect”, “our”, or “we”) announced today that Prospect's preferred stock offerings (collectively, the “Preferred Stock”) have exceeded $1.0 billion in aggregate liquidation preference issuances since the initial closing in the quarter ending December 31, 2020. The ongoing offering of the Series A1, M1, and M2 Preferred Stock being raised in the private wealth, institutional, and Registered Investment Advisor channels has approximately $645 million now available for sale.

Prospect Capital Corporation Surpasses $1 Billion Preferred Fundraising Milestone and Upsizes Extended Credit Facility to $1.584 Billion

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Prospect Capital Corporation (NASDAQ:PSEC ) Q4 2022 Results Conference Call August 30, 2022 11:00 AM ET Company Participants John Barry - Chairman and CEO Grier Eliasek - President and COO Kristin Van Dask - CFO Conference Call Participants Finian O'Shea - Wells Fargo Robert Dodd - Raymond James Operator Good day. and welcome to the Prospect Capital Corporation Fiscal Year End and Fourth Quarter Earnings Release and Conference Call.

Prospect Capital Corporation (PSEC) Q4 2022 Earnings Call Transcript

NEW YORK, Aug. 29, 2022 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ: PSEC) (“Prospect”, “our”, or “we”) today announced financial results for our fiscal quarter and year ended June 30, 2022.

Prospect Capital Announces June 2022 Results: $0.21 per Common Share Basic Net Investment Income and Stable Monthly $0.06 per Common Share Distributions

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating (FSR) of B (Fair) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “bb” (Fair) of American Federated Insurance Company (AFIC). Concurrently, AM Best has affirmed the FSR of B (Fair) and the Long-Term ICR of “bb” (Fair) of American Federated Life Insurance Company (AFLIC). The outlook of these Credit Ratings (ratings) is negative. Both companies are known c

AM Best Revises Outlooks to Stable for American Federated Insurance Company, Affirms Credit Ratings of American Federated Life Insurance Company

NEW YORK, Aug. 24, 2022 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ: PSEC) (the “Company”) today announced that it has rescheduled its release of fourth-quarter financial results from Wednesday, August 24, 2022, to Monday August 29, 2022, when it plans to file its Annual Report on Form 10-K for the fiscal year ended June 30, 2022. The company also announced it has rescheduled its conference call to Tuesday, August 30, 2022 at 11:00 a.m. Eastern Time. The conference call dial-in number will be 888-338-7333. A recording of the conference call will be available for approximately 30 days. To hear a replay, call 877-344-7529 and use passcode 8638717.

Prospect Capital Reschedules Fiscal Year Earnings Release Date and Conference Call

Prospect Capital (PSEC) is expected to have witnessed a rise in expenses in the fourth quarter of fiscal 2022.

Prospect Capital (PSEC) to Post Q4 Earnings: What's in Store?

The bond market crash has driven many bargains, especially for investment grade bonds. Prospect Capital has many investment grade bonds with annual yields/returns between 4.1% (7 months) and 7.6% (6 years).

The Best Way To Invest In Prospect Capital

Prospect Capital's net investment income is on the rise and is now well above its payout level of 18 cents per quarter. This is another in a series of stock picks with a theme - Margin of Safety stocks for a weak global economy.

Prospect Capital: Deep Value Alert, Dividend Hike Could Come Soon

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News for Prospect Capital ETF (PSEC)