Another beaten-up income favorite puts the sellers on notice (CYS on Monday) with Prospect...


Another beaten-up income favorite puts the sellers on notice (CYS on Monday) with Prospect Capital (PSEC) guiding Q2 estimated NII to $0.35/share from $0.31 previously. The company also announces a new $112M senior loan to a leading 3rd party logistics company servicing shippers globally. With no borrowing under its credit line, Prospect has $800M in new investment capacity. Shares +2% premarket. (PR)

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Comments (6)
  • growthguy
    , contributor
    Comments (138) | Send Message
     
    Positive news at last. Nice to see some guidance between quarters which is much needed for shareholders.
    12 Jun 2013, 09:15 AM Reply Like
  • Phasmida Capital
    , contributor
    Comments (33) | Send Message
     
    Yep.. now my only remaining question mark is how much of a book value loss will we see for this quarter considering that bonds have lost value. It would be much easier to estimate that if I knew the average duration of the debt investments in PSEC's portfolio.
    12 Jun 2013, 09:59 AM Reply Like
  • jamesfletcher2
    , contributor
    Comments (8) | Send Message
     
    PSEC may very well have the best BDC management team in the business when the primary measure is old fashion make $$$ without undue risk. The one thing that the nay-sayers lose sight of is that if PSEC keeps their profit machine on the course it has been on they may eventually have to pay a big special dividend to distribute their bulging profit machine. If a special dividend id declared the shorts will lose their shirts and then some. Of course, all investors should always keep a close watch on their portfolio investments for any signs of negative change.
    12 Jun 2013, 10:43 AM Reply Like
  • Chancer
    , contributor
    Comments (4193) | Send Message
     
    The high yield business for BDC's and mortgage REIT's is tough. But PSEC appears to have some of the best management in BDC's. I also like TICC and KCAP.
    12 Jun 2013, 12:26 PM Reply Like
  • mrmedusa
    , contributor
    Comments (579) | Send Message
     
    $PFLT could find a place here, too. Floating rate, monthly dividends, not quite so volatile and conservative management.
    12 Jun 2013, 01:21 PM Reply Like
  • Interesting Times
    , contributor
    Comments (15020) | Send Message
     
    http://seekingalpha.co...

     

    PSEC is one of my favorites and I have a blog that is now a TOP 10 because of posters like you folks. So if interested at least check it out as we converse rather then just leave a comment. The subjects change daily and REITS and BDC'S were recently discussed.

     

    Hope a few of you either follow me as I use stocktalk to keep people abreast of topics and have Authors, investors, Financial advisors always on line to comment.

     

    Looking forward to seeing a few of you posting!!
    12 Jun 2013, 05:38 PM Reply Like
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