PSEC - Prospect Capital Corporation
Chart Events
Performance Outlook
- Short Term2W - 6W
- Mid Term6W - 9M
- Long Term9M+
| Previous Close | 5.0100 |
| Open | 4.9900 |
| Bid | 4.9700 x 1400 |
| Ask | 4.9800 x 900 |
| Day's Range | 4.9650 - 5.0100 |
| 52 Week Range | 3.6800 - 6.7600 |
| Volume | 747,729 |
| Avg. Volume | 2,063,796 |
| Market Cap | 1.843B |
| Beta (5Y Monthly) | 0.94 |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | -0.3810 |
| Earnings Date | Aug 25, 2020 - Aug 31, 2020 |
| Forward Dividend & Yield | 0.72 (14.37%) |
| Ex-Dividend Date | Aug 28, 2020 |
| 1y Target Est | 4.25 |
- GlobeNewswire
Prospect Capital Corporation Announces Launch of Cash Tender Offer For its Outstanding 4.95% Senior Convertible Notes due 2022
NEW YORK, July 23, 2020 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (the “Company”) today announced that it has commenced a cash tender offer (the “Tender Offer”) to purchase up to $100,000,000 aggregate principal amount of outstanding 4.95% Senior Convertible Notes due 2022 (the “Notes”). The Tender Offer will expire at 12:00 midnight, New York City time, on August 20, 2020 (one minute after 11:59 p.m., New York City time, on August 19, 2020), or any other date and time to which the Company extends the 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 sets forth the terms and conditions of the Tender Offer. Title of Security CUSIP / ISIN Nos.Outstanding Principal AmountAggregate Principal Amount Sought 4.95% Senior Convertible Notes due 202274348T AR3 / US74348TAR32$258,240,000$100,000,000 The consideration to be paid for each $1,000 principal amount of Notes that are validly tendered and not validly withdrawn on or prior to the Expiration Date is $1,000.00, plus accrued and unpaid interest on the Notes, if any, from the last interest payment date up to, but not including, the Settlement Date (as defined herein).The Company will purchase any Notes that have been validly tendered at or prior to the Expiration Date and accepted for purchase, subject to all conditions to the Tender Offer having been either satisfied or waived by the Company, promptly following the Expiration Date (the date of such acceptance and purchase, the “Settlement Date”). If Notes with an aggregate principal amount in excess of $100,000,000 are validly tendered and not validly withdrawn at or prior to the Expiration Date, proration for each holder tendering Notes will be calculated with a proration factor of such amount so that the Company only accepts for purchase an aggregate principal amount of Notes of $100,000,000. The Settlement Date is expected to occur within three business days following the Expiration Date, assuming the conditions to the Tender Offer have been either satisfied or waived by the Company at or prior to the Expiration Date.As described in the Offer to Purchase, tendered Notes may be validly withdrawn from the Tender Offer at or prior to the Expiration Date. The Tender Offer is not conditioned on any minimum amount of Notes being tendered. The Company may amend, extend or, subject to certain conditions and applicable law, terminate the Tender Offer at any time in its sole discretion.If certain requirements set forth in the Offer to Purchase are met, the Company has agreed to pay a retail processing fee of $2.50 for each $1,000 principal amount of the Notes that are validly tendered and accepted for purchase pursuant to the Tender Offer to retail brokers that are appropriately designated by their tendering holder clients to receive this fee, provided that such fee will only be paid with respect to tenders by Holders whose aggregate principal amount of Notes validly tendered and accepted for purchase is $250,000 or less.The Company has retained D.F. King & Co., Inc. to serve as the Information and Tender Agent for the Notes in the Tender Offer.The Tender Offer is being made pursuant to the terms and conditions contained in the Offer to Purchase, a copy of which may be obtained from D.F. King & Co., Inc. at (212) 269-5550 (Banks and Brokers) or (800) 859-8509 (toll free), or via psec@dfking.com.Copies of the Offer to Purchase and the Retail Processing Fee Form are also available at the following web address: http://www.dfking.com/psecThis announcement is for informational purposes only and is not an offer to purchase or sell or a solicitation of an offer to purchase or sell, with respect to any securities. The solicitation of offers to buy the Notes is only being made pursuant to the terms of the Offer to Purchase, as it may be amended or supplemented. Holders should read the Company’s commencement Tender Offer statement on Schedule TO filed with the SEC in connection with the Tender Offer, which will include as an exhibit the Offer to Purchase and related materials, as well as any amendments or supplements to the Schedule TO when they become available, because they will contain important information. Each of these documents will be filed with the SEC, and, when available, holders may obtain them for free from the SEC at its website (www.sec.gov) or from the Company’s information and tender agent in connection with the Tender Offer. The Tender Offer is not being made in any state or jurisdiction in which such offer would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. None of the Company or the Information and Tender Agent are making any recommendation as to whether or not holders should tender their Notes in connection with the Tender Offer.About Prospect Capital CorporationProspect Capital Corporation is a business development company that focuses on lending to and investing in private businesses. Prospect's investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.Prospect has elected to be treated as a business development company under the Investment Company Act of 1940 (“1940 Act”). Prospect is required to comply with regulatory requirements under the 1940 Act as well as applicable NASDAQ, federal and state rules and regulations. We have elected to be treated as a regulated investment company under the Internal Revenue Code of 1986.Caution Concerning Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, whose safe harbor for forward-looking statements does not apply to business development companies. These forward-looking statements include statements regarding expectations as to the completion of the transactions contemplated by the Tender Offer. Any such statements, other than statements of historical fact, are highly likely to be affected by other unknowable future events and conditions, including elements of the future that are or are not under our control, and that we may or may not have considered; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. Actual developments and results are highly likely to vary materially from any forward-looking statements. Such statements speak only as of the time when made, and we undertake no obligation to update any such statement now or in the future.For further information, contact:Grier Eliasek, President and Chief Operating Officer grier@prospectcap.com Telephone (212) 448-0702
- Moody's
Prospect Capital Corporation -- Moody's announces completion of a periodic review of ratings of Prospect Capital Corporation
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Prospect Capital Corporation (PSEC) and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
- Insider Monkey
Prospect Capital Corporation (PSEC): Hedge Funds Are Dumping
We at Insider Monkey have gone over 821 13F filings that hedge funds and prominent investors are required to file by the SEC The 13F filings show the funds' and investors' portfolio positions as of March 31st, near the height of the coronavirus market crash. In this article, we look at what those funds think […]
- Zacks
Restructuring & Buyouts Aid Morgan Stanley (MS), Costs High
Morgan Stanley's (MS) restructuring efforts and strategic buyouts are likely to aid its financials. However, rising operating expenses and near-zero interest rates are headwinds.
- Thomson Reuters StreetEvents
Edited Transcript of PSEC earnings conference call or presentation 12-May-20 3:00pm GMT
Q3 2020 Prospect Capital Corp Earnings Call
- Zacks
Prospect Capital (PSEC) Up 8.5% on Q3 Earnings & Revenue Beat
Lower costs and robust originations support Prospect Capital's (PSEC) fiscal Q3 results.
- GlobeNewswire
Prospect CEO Writes Letter to Shareholders
Prospect Capital Corporation (“Prospect”) (PSEC) announced today that Prospect’s CEO issued a letter to shareholders. Since 1988, when Prospect Capital Management launched our first public fund, we have weathered stock market crashes, credit market dislocations, liquidity crunches, SARS, MERS, H1N1, and now the Wuhan virus. Starting two years ago, we began reducing debt at Prospect Capital Corporation (“Prospect”).
- Zacks
Prospect Capital (PSEC) Q3 Earnings and Revenues Beat Estimates
Prospect Capital (PSEC) delivered earnings and revenue surprises of 35.71% and 16.28%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
- GlobeNewswire
Prospect Reports Results for March 2020 Quarter and Declares Four More Months of Steady Cash Distributions to Shareholders
NEW YORK, May 11, 2020 -- Prospect Capital Corporation (NASDAQ: PSEC) (“Prospect”, “our”, or “we”) today announced financial results for our third fiscal quarter ended March.
- GlobeNewswire
Prospect Capital Schedules Third Quarter Earnings Release and Conference Call
Prospect Capital Corporation (PSEC) (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, 2020 on Monday, May 11, 2020 after the close of the markets. The Company also expects to issue its earnings press release on Monday, May 11, 2020 after the close of the markets. The Company will host a conference call on Tuesday, May 12, 2020 at 11:00 a.m. Eastern Time.
- InvestorPlace
10 High-Yield Monthly Dividend Stocks to Buy
[Editor's note: "10 High-Yield Monthly Dividend Stocks to Buy" was previously published in December 2019. It has since been updated to include the most relevant information available.]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.InvestorPlace - Stock Market News, Stock Advice & Trading TipsSuch 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. * 9 Asian Stocks to Buy for a Post-Coronavirus Recovery With that as the backdrop, here's a rundown of ten 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. Finally, many have taken a beating since the economic downturn.Still, in all ten cases, however, there's an attractive monthly payout in store for the foreseeable future. In no particular order… Capitala Finance (CPTA)Source: Shutterstock Dividend Yield: 28.4%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 availableCapitala'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 28.4% right now. Stellus Capital Investment (SCM)Source: Shutterstock Dividend Yield: 15.77%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.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. * 9 Robust Stocks to Buy to Survive a Bear Market 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: 12.14%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 12.14% thanks to the stock's 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: 7.06%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. * 7 Bank Stocks to Watch as Earnings Season Heats Up Whitestone's dividend yield is 7.06%, 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. Prospect Capital (PSEC)Source: Shutterstock Dividend Yield: 17.27%It's not the biggest business development company in the world, but somehow Prospect Capital (NASDAQ:PSEC) is still one of the best known.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 17.27%, PSEC may be a smart risk to take. Solar Senior Capital (SUNS)Dividend Yield: 11.88%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 Industrial Stocks To Buy For the Market Rebound The trade-off for safety is yield. Solar Senior is only paying out 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: 8.36%Source: Shutterstock 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).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. But it's rebounded 455 this year.And there's just something compelling about the growth potential in ownership rather than merely lending. Cross Timbers Royalty Trust (CRT)Source: Shutterstock Dividend Yield: 20.99%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.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 Retail Stocks to Keep Your Distance From 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: 11.72%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 11.72%, 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: 12.85%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 has not had any sustained trouble affording its dividend payment.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 * 2 Toxic Pot Stocks You Should Avoid * 10 2019 Losers That Will Be 2020 Winners * 7 Safe Dividend Stocks for Investors to Buy Right Now * 5 Artificial Intelligence Stocks to Consider The post 10 High-Yield Monthly Dividend Stocks to Buy appeared first on InvestorPlace.
- Moody's
Oaktree Specialty Lending Corporation -- Moody's affirms the ratings of nine business development companies, revises industry outlook to negative from stable
Moody's Investors Service (Moody's) has affirmed the ratings with a stable outlook of the following business development companies (BDCs): Goldman Sachs BDC, Inc. (Baa3 senior unsecured) and Owl Rock Capital Corporation (Baa3 senior unsecured). The ratings of Ares Capital Corporation (Baa3 senior unsecured) were affirmed, but the outlook was changed to stable from positive.
- Moody's
Oaktree Specialty Lending Corporation -- Moody's affirms the ratings of nine business developments companies, revises industry outlook to negative from stable
Moody's Investors Service (Moody's) has affirmed the ratings with a stable outlook of the following business development companies (BDCs): Goldman Sachs BDC, Inc. (Baa3 senior unsecured) and Owl Rock Capital Corporation (Baa3 senior unsecured). The ratings of Ares Capital Corporation (Baa3 senior unsecured) were affirmed, but the outlook was changed to stable from positive.
- Moody's
TPG Specialty Lending, Inc. -- Moody's affirms the ratings of nine business developments companies, revises industry outlook to negative from stable
Moody's Investors Service (Moody's) has affirmed the ratings with a stable outlook of the following business development companies (BDCs): Goldman Sachs BDC, Inc. (Baa3 senior unsecured) and Owl Rock Capital Corporation (Baa3 senior unsecured). The ratings of Ares Capital Corporation (Baa3 senior unsecured) were affirmed, but the outlook was changed to stable from positive.
- Moody's
Goldman Sachs BDC, Inc. -- Moody's affirms the ratings of nine business developments companies, revises industry outlook to negative from stable
Moody's Investors Service (Moody's) has affirmed the ratings with a stable outlook of the following business development companies (BDCs): Goldman Sachs BDC, Inc. (Baa3 senior unsecured) and Owl Rock Capital Corporation (Baa3 senior unsecured). The ratings of Ares Capital Corporation (Baa3 senior unsecured) were affirmed, but the outlook was changed to stable from positive.
- Insider Monkey
Hedge Funds Have Never Been This Bullish On Prospect Capital Corporation (PSEC)
Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […]
- GlobeNewswire
Prospect Capital Corporation Announces Results of Cash Tender Offer For Any and All of its Outstanding 6.25% Notes due 2024
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 March 20, 2020 (the “Offer to Purchase”), which set forth the terms and conditions of the Tender Offer. As of the previously announced expiration time of 5:00 p.m., New York City time, on March 26, 2020 (the “Expiration Time”), according to information provided by D.F. King & Co., Inc., the information and tender agent for the Tender Offer, a total of $654,600 aggregate principal amount of Notes (defined below) had been validly tendered and not validly withdrawn in the Tender Offer.
- PR Newswire
New study shows student recruitment going virtual fueled by coronavirus fears
March survey results by Thinking Cap Agency, a media partner for university enrollment marketing, show that the coronavirus is changing attitudes toward how students consider what schools to attend. The study of 1,900 college students found that just over half (52%) of transfer students are likely to take virtual tours instead of visiting open houses on campus. This is a dramatic shift to virtual information sessions that is a new challenge for college and university recruitment.
- GuruFocus.com
Largest Insider Trades of the Week
Insiders load up on Dell Technologies, dump XPO Logistics Continue reading...
- GlobeNewswire
Prospect Capital Corporation Announces Launch of Cash Tender Offer For Any and All of its Outstanding 6.25% Notes due 2024
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 March 26, 2020, or any other date and time to which the Company extends such 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, which set forth the terms and conditions of the Tender Offer.
- Thomson Reuters StreetEvents
Edited Transcript of PSEC earnings conference call or presentation 11-Feb-20 4:00pm GMT
Q2 2020 Prospect Capital Corp Earnings Call
- PR Newswire
Refuel Agency Moves Corporate Headquarters to Santa Barbara
Refuel Agency, the largest provider of Media + Marketing services specializing in and reaching select niche audiences throughout the United States, including Military, Teen, Gen Z, College and Multicultural markets, announced today that it has moved its Corporate Headquarters from New York to Santa Barbara.
- Zacks
Prospect Capital (PSEC) Meets Q2 Earnings Estimates
Prospect Capital (PSEC) delivered earnings and revenue surprises of 0.00% and 3.90%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?
- GlobeNewswire
Prospect Capital Reports December 2019 Quarterly Results and Declares Additional Monthly Distributions
NEW YORK, Feb. 10, 2020 -- Prospect Capital Corporation (NASDAQ: PSEC) (“Prospect”, “our”, or “we”) today announced financial results for our second fiscal quarter ended.
