|Bid||6.55 x 28000|
|Ask||6.58 x 1100|
|Day's Range||6.41 - 6.53|
|52 Week Range||5.70 - 7.60|
|Beta (3Y Monthly)||0.89|
|PE Ratio (TTM)||10.85|
|Earnings Date||Aug 26, 2019 - Aug 30, 2019|
|Forward Dividend & Yield||0.72 (11.27%)|
|1y Target Est||6.00|
Prospect Capital Corporation (the “Company”) today announced that it has commenced a cash tender offer (the “Tender Offer”) to purchase up to $60,000,000 aggregate principal amount of its outstanding senior convertible notes listed below. The Tender Offer will expire at 12:00 midnight, New York City time, on September 10, 2019 (one minute after 11:59 p.m., New York City time, on September 9, 2019), or any other date and time to which the Company extends such Tender Offer (such date and time, as it may be extended, the “Expiration Date”).
[Editor's note: This story was previously published in June 2019. It has since been updated and republished.]Do you ever wish your dividend stocks paid out monthly rather than quarterly? For income-oriented investors who cover their monthly expenses with dividend income, it would certainly be a convenient option.Such stocks to buy actually do exist. In fact, they're more common than many investors may realize. They're also not crimped by catches and restrictions, and their underlying income is driven by very ordinary business models. They look just like their quarterly counterparts.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 8 of the Most Shorted Stocks in the Markets Right Now With that as the backdrop, here's a rundown of 10 high-yield monthly dividend stocks to buy from a variety of industries and sectors. Some are more familiar names than others, and some are bigger than others. Not all of them have been around for a great length of time either.In all ten cases, however, there's an attractive monthly payout in store for the foreseeable future. In no particular order… Capitala Finance (CPTA)Dividend Yield: 10.49%Capitala Finance (NASDAQ:CPTA) primarily provides capital to smaller companies, via a combination of loans and equity investments. Its average funding ranges between $10 million and $50 million, offering investors a chance to plug into small-company opportunities that wouldn't otherwise be availableSource: Shutterstock Capitala's strength is its diversity. It owns stakes in companies from the retailing, biotech, industrial, technology and consumer industries just to name a few. Its most recent investment was a piece of a human anatomy app company called Visible Body, which helps medical students and caregivers better understand how the human body physically fits together.More than that, Capitala Finance is yielding a hefty 10.49% right now. Stellus Capital Investment (SCM)Dividend Yield: 9.42%Also add Stellus Capital Investment (NYSE:SCM) to your list of monthly dividend stocks to scoop up if you're looking for regular monthly income.Source: Shutterstock Like Capitala Finance, Stellus is categorized as a business development company. And also like Capitala, Stellus is focused on so-called "middle market" outfits that may be too big or too risky for traditional loans but too small to raise funds by going public.Its portfolio includes food distributor GoodSource Solutions, home-health product provider Compass Health and business software outfit Valued Relationships Inc, just to name a few. * 7 A-Rated Stocks Under $10 It's arguably a little less risky than Capitala, in that most of its investment are in companies currently yielding a (very) positive EBITDA. The trade-off is a lower dividend yield. AGNC Investment (AGNC)Dividend Yield: 11.23%AGNC Investment (NASDAQ:AGNC) is a real estate investment trust, or REIT, primarily focused on the development of a mortgage portfolio.The bulk of the mortgages it owns are made by government-sponsored outfits like Fannie Mae and Freddie Mac. It's a lower-risk approach toward driving monthly income, though still an effective one.AGNC presently yields 11.23% thanks to the stock's 10.7% slide over the last year.That pullback was largely rooted in fears that rising interest rates would crimp AGNC Investment's future cash flows, as higher interest rates are presumed to tend to crimp overall lending activity.That's only partly accurate. Higher rates can do mortgage REITs more good than harm if the underlying reason for rising rates is a strong economy. Whitestone REIT (WSR)Dividend Yield: 8.89%REITs, by the way, are pools of money that allow individuals liquid access to real estate investments that wouldn't otherwise be available to most retail investors. And a portfolio of mortgages is hardly the only way to develop a REIT.Case in point: Whitestone REIT (NYSE:WSR). Whitestone owns a portfolio of consumer-oriented real estate, primarily in more affluent neighborhoods, providing space to "ecommerce-resistant" companies like Whole Foods Market, Verizon (wireless phone service) and True Food Kitchen restaurants.It's a brilliant strategy, as its more than 3o% top-line growth from 2016 to 2018 shows. Whitestone's forward yield is approaching 9%, which isn't the highest among the monthly dividend stocks in focus, though it's a solid return relative to the risk shareholders are assuming. * 7 Stocks to Buy With Over 20% Upside From Current Levels Prospect Capital (PSEC)Dividend Yield: 11.11%It's not the biggest business development company in the world, but somehow Prospect Capital (NASDAQ:PSEC) is still one of the best known.Source: Shutterstock Its portfolio includes several familiar names like JD Power, Capstone Logistics, ACE Cash Express and video media company Cinedigm, just to name a few.It's diversity that has helped smooth out the BDC's bottom line from time to time when it might otherwise be erratic.Either way, the market and analysts may be underestimating the true potential of Prospect. The company has met or topped earnings estimates in four of its past five quarters. Between that and its trailing dividend yield of 11.11%, PSEC may be a smart risk to take. Solar Senior Capital (SUNS)Dividend Yield: 8.49%Don't let the name fool you. Solar Senior Capital (NASDAQ:SUNS) doesn't specialize in providing capital to the solar power industry.It is another business development company, and like Prospect and Capitala, it's highly diversified in terms of industry exposure.There is a noteworthy difference between Solar Senior Capital and its BDC peers, however.The organization focuses primarily on senior secured loans of privately owned middle-market companies, which better positions it to, if nothing else, preserve capital. * 7 Semiconductor Stocks to Buy for Your Inner Geek The trade-off for safety is yield. Solar Senior is only paying out 8.8% of the stock's current price as an annualized dividend. And it's been paying it, and adding to it, faithfully since 2011. Gladstone Investment (GAIN)Dividend Yield: 7.19%Gladstone Investment (NASDAQ:GAIN) is a business development company, but it's unlike most other BDCs (and unlike any other monthly dividend stocks being discussed within this list).Source: Shutterstock Whereas most of these investment companies seek to make loans, Gladstone is ultimately aiming to acquire smaller but mature companies.It's a riskier proposition, as investors have learned the hard way. The company missed its quarterly earnings estimate at the end of 2018 and shareholders have paid the price. GAIN lost about 12.4% of its value last year and missed its Q2 earnings estimate. You've gotta be cautious.There's just something compelling about the growth potential in ownership rather than merely lending. Cross Timbers Royalty Trust (CRT)Dividend Yield: 10.42%They're a relatively rare breed these days, but oil and gas royalty investments are still around and still dishing out dividend income. Cross Timbers Royalty Trust (NYSE:CRT) is one of the remaining names of the ilk.Source: Shutterstock An investment in Cross Timbers is predominantly an investment in oil and gas producing properties found in Texas, Oklahoma and New Mexico. Yes, the fluctuating price of oil and natural gas can impact the trust's bottom line, although not as much as you might think. * 7 Oversold Stocks To Buy Right Now The organization is merely plugged into the production of established and operational wells, and isn't directly taking on the expensive risk of exploration. Global Net Lease (GNL)Dividend Yield: 10.75%Global Net Lease (NYSE:GNL) is another REIT, primarily serving the commercial market.It owns properties in the United States and Europe, and rents to quality tenants like FedEx, Family Dollar and ING Bank, organizations that can not only reliably pay their rent as it comes due, but outfits that tend to stay put once they establish roots.There's a bit of a twist Global Net Lease brings to the table that allows it to juice its payout to its current yield of 10.75%, however. It also acquires much of its rental real estate through an arrangement called a sale-leaseback.In simplest terms, a sale-leaseback lets a property-owning company free up the value of real estate by selling a space it owns to a landlord like Global Net Lease, and then remain in that space as a tenant. It's a win-win scenario, as the renter enjoys a big cash infusion and Global Net Lease has a tenant already lined up. Horizon Technology Finance (HRZN)Dividend Yield: 9.92%Finally, Horizon Technology Finance (NASDAQ:HRZN) has earned a spot on a list of monthly dividend stocks to buy.As the name suggests, Horizon Technology Finance provides capital to young, upcoming technology outfits, though it doesn't cater strictly to the tech sector.It's also heavily involved in the development of life science and biotechnology companies.Its portfolio includes biotech names like AccuVein and Celsion, along with traditional tech plays like cybersecurity company Control Scan and communications technology player Xtera.Its results are as erratic as what you'd expect from major technology names, but it's worth the wild ride. Horizon's yielding 10.3% at its current price, and it has not had any sustained trouble affording its dividend payment. * The 7 Best Tech Stocks to Buy for the Second Half of 2019 As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can follow him on Twitter, at @jbrumley. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 10 Stocks to Buy That Wall Street Expects to Soar for the Rest of 2019 * 7 Value Stocks That Are Flying Under the Radar * 6 Mouth-Watering Fast Food Stocks for Growth Investors The post 10 High-Yield Monthly Dividend Stocks to Buy appeared first on InvestorPlace.
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 senior convertible notes listed below. The Tender Offer was made pursuant to an Offer to Purchase dated June 28, 2019 (the “Offer to Purchase”), which set forth the terms and conditions of the Tender Offer. As of the previously announced expiration time of 12:00 midnight, New York City time, on July 27, 2019 (one minute after 11:59 p.m., New York City time, on July 26, 2019) (the “Expiration Time”), according to information provided by D.F. King & Co., Inc., the tender and information agent for the Tender Offer, a total of $32,948,000 aggregate principal amount of Notes had been validly tendered and not validly withdrawn in the Tender Offer.
Prospect Capital Corp NASDAQ/NGS:PSECView full report here! Summary * ETFs holding this stock are seeing positive inflows * Bearish sentiment is low * Economic output for the sector is expanding but at a slower rate Bearish sentimentShort interest | PositiveShort interest is low for PSEC with fewer than 5% of shares on loan. The last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment among investors who seek to profit from falling equity prices. Money flowETF/Index ownership | PositiveETF activity is positive. Over the last month, growth of ETFs holding PSEC is favorable, with net inflows of $6 million. This is among the highest net inflows seen over the last one-year and the rate of additional inflows appears to be increasing. Economic sentimentPMI by IHS Markit | NegativeAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Financials sector is rising. The rate of growth is weak relative to the trend shown over the past year, however, and is easing. Credit worthinessCredit default swapCDS data is not available for this security.Please send all inquiries related to the report to firstname.lastname@example.org.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
At Insider Monkey we track the activity of some of the best-performing hedge funds like Appaloosa Management, Baupost, and Tiger Global because we determined that some of the stocks that they are collectively bullish on can help us generate returns above the broader indices. Out of thousands of stocks that hedge funds invest in, small-caps […]
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 senior convertible notes listed below. The Tender Offer will expire at 12:00 midnight, New York City time, on July 27, 2019 (one minute after 11:59 p.m., New York City time, on July 26, 2019), or any other date and time to which the Company extends such Tender Offer (such date and time, as it may be extended, the “Expiration Date”). The Tender Offer is made pursuant to an Offer to Purchase dated today, which set forth the terms and conditions of the Tender Offer.
Rating Action: Moody's assigns Baa3 issuer and senior notes ratings to FS KKR Capital Corp. New York, June 20, 2019 -- Moody's Investors Service ("Moody's") assigned a Baa3 issuer rating to FS KKR Capital Corp (FSK), a publicly traded business development company (BDC) managed by FS/KKR Advisor, LLC (FS/KKR). Moody's also assigned Baa3 ratings to FSK's senior unsecured notes maturing July 2019, January 2020, May 2022 and June 2022.
NEW YORK, NY / ACCESSWIRE / May 9, 2019 / Prospect Capital Corp. (NASDAQ: PSEC ) will be discussing their earnings results in their 2019 Third Quarter Earnings to be held on May 9, 2019 at 11:00 AM Eastern ...
The New York-based company said it had profit of 24 cents per share. Earnings, adjusted for investment gains, were 21 cents per share. The business development company posted revenue of $171.1 million ...
NEW YORK, May 08, 2019 -- Prospect Capital Corporation (NASDAQ: PSEC) (“Prospect”, “our”, or “we”) today announced financial results for our third fiscal quarter ended March.
On Wednesday, May 8, Prospect Capital (NASDAQ: PSEC ) will release its latest earnings report. Here is Benzinga's outlook for the company. Earnings and Revenue Prospect Capital EPS will likely be near ...
Prospect Capital Corporation (PSEC) (“Prospect”, or “the Company”) today announced it expects to file with the Securities and Exchange Commission its report on Form 10-Q containing results for the fiscal third quarter ended March 31, 2019 on Wednesday, May 8, 2019 after the close of the markets. The Company also expects to issue its earnings press release on Wednesday, May 8, 2019 after the close of the markets. The Company will host a conference call on Thursday, May 9, 2019 at 11:00 a.m. Eastern Time.
Hedge funds are known to underperform the bull markets but that's not because they are terrible at stock picking. Hedge funds underperform because their net exposure in only 40-70% and they charge exorbitant fees. No one knows what the future holds and how market participants will react to the bountiful news that floods in each […]
Prospect Capital Corporation (PSEC) (“Prospect”) announced today the pricing of $175 million in aggregate principal amount of senior unsecured 6.375% Convertible Notes Due 2025 (the “Notes”). Prospect has granted the underwriters a 13-day over-allotment option to purchase up to an additional $26.25 million aggregate principal amount of Notes. The Notes will be convertible into shares of Prospect’s common stock based on an initial conversion rate of 110.7420 shares of Prospect’s common stock per $1,000 principal amount of Notes, which is equivalent to an initial conversion price of approximately $9.03 per share of common stock, representing a 30.68% conversion premium over the last reported sale price of Prospect’s common stock on February 26, 2019, which was $6.91 per share.
NEW YORK, Feb. 27, 2019 -- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors,.
Moody's Investors Service (Moody's) assigned a rating of Baa3 to Prospect Capital Corporation's (PSEC) senior unsecured convertible notes due 2025. Moody's assigned a Baa3 rating to PSEC's senior convertible notes based on PSEC's Baa3 issuer profile, as well as the notes' senior priority in PSEC's capital structure.
Prospect Capital Corporation (PSEC) (“Prospect”) today announced that it is offering, subject to market and other conditions, $150 million in aggregate principal amount of unsecured convertible notes due 2025 (the “Notes”) in an underwritten public offering. Prospect also intends to grant the underwriters for the offering a 13-day overallotment option to purchase up to an additional $22.5 million aggregate principal amount of the Notes. Prospect expects to use a portion of the net proceeds from the sale of the Notes to repurchase from time to time a portion of its 4.75% senior convertible notes due 2020 (the "2020 Notes").
Prospect Capital (PSEC) delivered earnings and revenue surprises of 0.00% and 2.27%, respectively, for the quarter ended December 2018. Do the numbers hold clues to what lies ahead for the stock?