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Prospect Capital Corporation - PSEC STOCK NEWS

Welcome to our dedicated page for Prospect Capital Corporation news (Ticker: PSEC), a resource for investors and traders seeking the latest updates and insights on Prospect Capital Corporation stock.

Prospect Capital Corporation (NASDAQ: PSEC) is a leading closed-end investment company based in the United States, focusing on generating current income and long-term capital appreciation through flexible private debt and equity investments. As an investment advisor, Prospect Capital Management L.P. guides PSEC under the Investment Company Act of 1940, making it a Business Development Company (BDC).

Prospect Capital Corporation primarily invests in senior and subordinated debt and equity of private companies for a variety of financial situations. These include acquisitions, divestitures, growth, development, and recapitalizations. The company's investment portfolio is diverse, encompassing private equity, sponsored transactions, direct company investments, structured credit, real estate, and syndicated debt.

In recent developments, PSEC has reported financial results for the fiscal quarter ended September 30, 2023. The company announced monthly distributions to its 6.50% preferred shareholders at an annual rate of 6.50% of the stated value of $25.00 per share. As of September 30, 2023, PSEC held over $1.6 billion in preferred stock outstanding, demonstrating substantial financial strength and liquidity.

In its portfolio, PSEC has invested in subordinated structured notes benefiting from individual standalone financings non-recourse to Prospect. This strategy limits risk to the net investment. For the September 2023 quarter, PSEC showcased substantial term debt issuance and repurchase/repayment activity, bolstering its capital and liquidity position. Additionally, PSEC's middle-market loan portfolio continues to perform well, with weighted average EBITDA and net leverage metrics indicating strong financial health.

Prospect Capital Corporation maintains active communication with its investors. For instance, the company hosts regular earnings conference calls, providing detailed updates on financial performance and investment activities. The next earnings call is scheduled for November 9, 2023, at 10:30 a.m. Eastern Time.

Overall, Prospect Capital Corporation stands out for its robust investment strategies and commitment to delivering value to its shareholders through disciplined financial management and strategic investment decisions.

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Prospect Capital (NASDAQ: PSEC) announced its financial results for the quarter ended March 31, 2024, including NII of $94.4 million and a net loss per common share of $0.27. The company declared its 84th consecutive $0.06 dividend to common shareholders, with total assets of $7.9 billion and total liabilities of $2.6 billion. Prospect's strategic focus includes growing NII and NAV through various investment initiatives.

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Prospect Capital (NASDAQ: PSEC) announced its upcoming earnings release for the fiscal quarter ended March 31, 2024, scheduled for May 8, 2024. The company will host a conference call on May 9, 2024, providing investors with an opportunity to learn more about the financial results.

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Prospect Capital Corporation (PSEC) announced its financial results for the fiscal quarter ended December 31, 2023, with a net investment income of $96,927 and a net loss applicable to common shareholders of $(51,436). The company declared monthly cash distributions to common shareholders and expects to declare more in May 2024, June 2024, July 2024, and August 2024. Prospect's closing stock price of $5.81 at February 7, 2024, delivers an annualized distribution yield of 12.4% to common shareholders.
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Prospect Capital Corporation (PSEC) announced the filing of its report on Form 10-Q for the fiscal quarter ended December 31, 2023, and the issuance of its earnings press release on February 8, 2024. The company will host a conference call on February 9, 2024, and the call will be available via live webcast on the company's website. A recording of the call will be available for approximately 30 days.
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Prospect Capital Corporation (NASDAQ: PSEC) held its annual meeting of stockholders on December 18, 2023. The company's common stock outstanding is 408,132,468 shares, with various series of preferred stock also outstanding. The Annual Meeting has been adjourned until December 22, 2023, to solicit stockholder votes for the proposal found in the Proxy.
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Prospect Capital Corporation (NASDAQ: PSEC) announced financial results for the fiscal quarter ended September 30, 2023, reporting a net investment income of $125.6 million and a basic NII per common share of $0.25. The company declared monthly cash distributions to common shareholders and preferred shareholders, with an annualized distribution yield of 13.5% for common shareholders and 5.50% for preferred shareholders. The company also highlighted its investment activity, portfolio update, and capital and liquidity position.
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Prospect Capital Corporation (NASDAQ: PSEC) announced that it will file its report on Form 10-Q for the fiscal quarter ended September 30, 2023, on November 8, 2023. The company will also issue its earnings press release on the same day. A conference call will be held on November 9, 2023, at 10:30 a.m. Eastern Time, with a dial-in number provided. A recording of the call will be available for approximately 30 days, and a replay of the audio webcast will be available on the company's website.
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Prospect Capital Corporation has announced a cash tender offer to purchase all of its outstanding 5.35% Series A Fixed Rate Cumulative Perpetual Preferred Stock. The offer will expire on November 29, 2023, and the purchase price per share is $15.877396. Holders of tendered shares will also receive accrued dividends up to the Settlement Date, which is expected to occur within three business days following the expiration date.
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Prospect Capital Corporation announces financial results for Q2 and FY2023
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Prospect Capital Corporation expects to issue its earnings press release on August 29, 2023. The company will host a conference call on August 30, 2023. A recording of the conference call will be available for approximately 30 days. The conference call will also be available via a live listen-only webcast on the Company’s website.
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FAQ

What is Prospect Capital Corporation (PSEC)?

Prospect Capital Corporation is a closed-end investment company that focuses on generating income and capital appreciation through private debt and equity investments.

What types of investments does PSEC make?

PSEC invests in senior and subordinated debt and equity of private companies for acquisitions, growth, development, recapitalizations, and other financial needs.

How does PSEC manage its risk?

PSEC mitigates risk by investing in subordinated structured notes that benefit from individual standalone financings non-recourse to Prospect, limiting risk to the net investment.

What is the purpose of PSEC's monthly distributions?

The monthly distributions to 6.50% preferred shareholders aim to provide consistent income, calculated at an annual rate of 6.50% of the stated value of $25.00 per share.

What were PSEC's financial highlights for the quarter ended September 30, 2023?

For the quarter ended September 30, 2023, PSEC reported over $1.6 billion in preferred stock outstanding and showed substantial term debt issuance and repayment activity.

When is PSEC's next earnings call?

PSEC's next earnings call is scheduled for November 9, 2023, at 10:30 a.m. Eastern Time.

Who is the investment advisor for Prospect Capital Corporation?

Prospect Capital Management L.P. serves as the investment advisor for Prospect Capital Corporation.

What is PSEC's primary investment objective?

PSEC's primary investment objective is to generate current income and long-term capital appreciation for its shareholders.

In which regions does PSEC primarily operate?

PSEC primarily operates in the United States and Canada, providing flexible private debt and equity capital to middle-market companies.

How does PSEC communicate with its investors?

PSEC maintains active communication with its investors through regular earnings calls and updates on their website, providing detailed information on financial performance and investment activities.

Prospect Capital Corporation

Nasdaq:PSEC

PSEC Rankings

PSEC Stock Data

2.29B
417.76M
26.72%
9.78%
5.63%
Securities and Commodity Exchanges
Finance and Insurance
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United States of America
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