The fact ASSETS in the portfolio have nearly DOUBLED. Everything I have seen and or read , all the seeking alpha posts, all the commentary of analyst etc etc etc.. The discussion of Prospect always seem to start with Q1 results. While I realize Q2 is a week away it amazes me there is little talk of all the capital raised and put to work in Q2.
This is such an amazing chance, get in prior to earnings, prior to everyone being clued in. Valuation is going to move up and so is the dividend. Sure perhaps the billion dollars has not generated a dime, but I am betting it has. Asset quality, improved. Asset value, rising.
Translation: This is trading at HUGE discount to its peers.
AH FEB 7th it will be known and buyers will put pressure on this equity like it has never seen
a large amount of the increase in assets was because of the offering and that does nothing for per share appreciation as you have more shares, so it isn't at that big of a discount as you would lead some to believe.
The offering dropped the PPS of PSEC to 10.86 from 11.92. The shares(35 million) have appreciated from the offer price a few months ago. Also you have earned .42. Total return is over 10% since the offering.
Assets end of calendar year 2011 1,114,357 Assets 2012 2,326,635
That looks like a net double. You are correct however shares also doubled. However net income was way up and roi @ 18% .
So the statement while incomplete is not inaccurate on its face.