Prospect Capital Corporation Stock News

Prospect Capital's dividend cut has improved payout safety, aligning distributions with lower net investment income and enhancing the margin of safety for passive income investors. The portfolio shift toward first-lien debt has stabilized credit quality, with non-accruals remaining low at 0.6%, despite a decline in overall income. High insider ownership (29%) and a 55% discount to NAV suggest t...

NEW YORK, June 03, 2025 (GLOBE NEWSWIRE) -- Prospect Capital Management L.P. (“Prospect”), investment adviser to Prospect Capital Corporation (NASDAQ: PSEC) and other funds, announced today that Prospect Capital Corporation's President and Chief Operating Officer, Grier Eliasek, is featured in the June 2025 Private Debt Investor (“PDI”) Middle Market Direct Lending Report. In the Q&A-format fea...

I am increasingly cautious on BDCs due to rising non-accruals, weaker earnings, and looser underwriting amid intense competition for private credit deals. Elevated interest rates are suppressing BDC valuations and making it harder for borrowers to service debt, leading to fewer quality investment opportunities. Dividend coverage is weakening across many BDCs, with higher non-accruals and PIK in...

NEW YORK, May 19, 2025 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ: PSEC) (“Prospect,” “our” or “we”) announced today that it will redeem all outstanding 3.706% Notes due 2026 (the “Notes”) at a price of 100% of the principal amount of the Notes to be redeemed, plus accrued but unpaid interest, to but excluding the Redemption Date (the “Redemption Price”). The redemption date will ...

NEW YORK, May 12, 2025 (GLOBE NEWSWIRE) -- Priority Income Fund, Inc. (“Priority Income Fund” or the “Fund”) announced today that it will redeem all outstanding shares of its 6.625% Series F Term Preferred Stock Due 2027 (CUSIP: 74274W 822; NYSE: PRIF PRF) (the “Series F Preferred Shares”) at a price of $25 per Series F Preferred Share, plus accrued but unpaid dividends per Series F Preferred S...

Prospect Capital (PSEC) has been a poor performer, trading at its largest discount to NAV in a decade due to earnings decline and poor financials. PSEC's heavy reliance on real estate makes it vulnerable to high interest rates, causing a significant NAV decline and underperformance against peers. Despite a high dividend yield of 14.9%, the long-term sustainability is questionable, with no signi...

We take a look at the action in business development companies through the first week of May and highlight some of the key themes we are watching. BDCs fell around 1.5% this week due to a couple of weak Q1 reports, with the sector still below pre-Liberation Day levels. Despite recent dips, historically resilient BDCs are showing strong ROE figures, suggesting selective opportunities for patient...

Prospect Capital's market cap has plummeted 31% over the last year, driven by a sustained decline in net asset value (NAV) and dividend cuts. The BDC's fiscal 2025 third-quarter NAV per share fell to $7.25, down from $7.84 in the previous quarter. PSEC was downgraded to junk status by both S&P and Moody's. Both agencies cited rising payment-in-kind (PIK) interest payments and declining credit q...