Thu, Aug. 27, 7:16 AM
- FQ4 net investment income of $89.5M or $0.25 per share vs. $84.1M and $0.25 one year ago. Dividends were $0.25. For the year ended June 2015, NII of $362.7M or $1.03 per share vs. $357.2M and $1.19 a year earlier. Dividends were $1.19.
- FQ4 increase in net assets from operations of $94.8M or $0.26 per share vs. $71.7M and $0.21 one year ago.
- Net asset value of $10.31 per share up one penny from last quarter.
- Conference call at 11 ET
- Previously: Prospect Capital NII in-line, misses on total investment income (Aug. 26)
- PSEC no trades premarket, but was higher by 3% after hours to $7.25.
Wed, Aug. 26, 5:35 PM
Wed, Aug. 26, 4:57 PM
Tue, Aug. 25, 5:35 PM
Tue, Aug. 25, 11:23 AM
Thu, Aug. 13, 8:11 AM
Fri, Jul. 24, 3:01 PM
- Just a 1% decline in the major averages (which are being helped by some high-profile earnings moves) is masking far greater carnage in a number of other sectors, notably healthcare (XLV -2.5%) and energy (XLE -2%).
- Business development companies and mortgage REITs are being socked again as well, suggesting the worry may go beyond interest rates and to credit in general, especially as commodity prices continue to tumble - to pick one, crude oil at $48.06 per barrel is at its lowest price in about four months.
- Among BDCs: Hercules Technology Growth (HTGC -4.2%), Triangle Capital (TCAP -3.3%), PennantPark Investment (PNNT -5.4%), Prospect Capital (PSEC -1.4%), Main Street Capital (MAIN -2.8%), TICC Capital (TICC -2.4%), KCAP Financial (KCAP -2.6%), THL Credit (TCRD -2.7%), FS Investment (FSIC -1.8%).
- Among mREITs: Armour Residential (ARR -3.1%), Two Harbors (TWO -0.9%), CYS Investments (CYS -2%), Invesco Mortgage (IVR -1.5%), Capstead Mortgage (CMO -1.2%), Apollo Residential (AMTG -2.6%), Arlington Asset (AI -3.7%), American Capital Mortgage (MTGE -0.9%), Orchid Island (ORC -5.8%).
- MReit ETFs: MORL, REM, MORT, LMBS
- BDC ETFs: BDCL, BDCS, BIZD, FGB
Tue, Jul. 14, 8:09 AM
- Prospect Capital (NASDAQ:PSEC) provides System One Holdings - a portfolio company of MidOcean Partners - with another $11.8M of first lien senior secured floating rate debt to support the purchase of AECOM's quality programs business.
- System One utilized a delayed draw term loan to which Prospect previously committed. Prospect now provides about $80M of financing to System One as the sole term lender.
- Source: Press Release
Tue, Jul. 7, 7:51 AM
Thu, Jul. 2, 7:31 AM
- Prospect (NASDAQ:PSEC) this quarter provided a commitment to support the acquisition of Bay Area Addiction Research and Treatment by Webster Capital Management. The financing is made up of an initial term loan, and then additional commitments in the form of a delayed draw term loan and a revolving credit line.
- The amounts were not disclosed.
- Source: Press Release
Wed, Jul. 1, 7:46 AM
Fri, Jun. 26, 3:43 PM
- Continued strong economic data (June consumer confidence beat expectations) and apparently optimism over a Greek deal getting inked this weekend make for good excuses for today's selling in fixed income.
- The U.S. 10-year yield is up seven basis points to 2.48%. Short-term rate futures continue to read more dovish than the Fed, predicting just one 25 basis point rate hike by year-end.
- TLT -1.2%, TBT +2.4%.
- Among the income favorites, utilities (XLU +0.6%) and equity REITs (IYR +0.2%) are being spared punishment today, leaving jittery investors to focus their selling in mortgage REITs.
- Also in the red are BDCs, led by Prospect Capital (PSEC -2.5%) and Fifth Street Finance (FSC -1.5%). American Capital (ACAS -1.3%), Medley Capital (MDLY +0.1%), THL Credit (TCRD -1.2%), PennantPark (PNNT -1%).
- ETFs: BDCL, BDCS, BIZD, FGB
Tue, Jun. 16, 7:24 AM
Wed, May 6, 5:22 PM
- Prospect Capital (NASDAQ:PSEC) declares $0.08333/share monthly dividend, in line with previous.
- Forward yield 12.84%
- Payable June 18; for shareholders of record May 29; ex-div May 27.
- Payable July 23; for shareholders of record June 30; ex-div June 26.
- Payable Aug. 20; for shareholders of record July 31; ex-div July 29.
Wed, May 6, 4:54 PM
- Q1 net investment income of $87.4M or $0.24 per share vs. $91.3M and $0.26 in Q4. Dividend is $0.25.
- "Our evolving origination mix has increased our percentage of recurring income with 96.7% of total investment income from interest income in the March 2015 quarter versus 82.2% in the March 2014 quarter."
- Net increase in net assets from operations of $81.5M or $0.23 per share vs. $86M and $0.24 in Q4.
- Net asset value per share of $10.30 slips from $10.35 in Q4.
- Conference call tomorrow at 11 ET
- PSEC +2.7% after hours
Wed, May 6, 4:38 PM
PSEC vs. ETF Alternatives
Prospect Capital Corporation is a closed-end investment company. It invests in senior and subordinated debt and equity of companies in need of capital for acquisitions, divestitures, growth, development, recapitalizations and other purposes.
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