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 the stock is undervalued, offering a compelling risk/reward for patient investors.
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 feature, Mr. Eliasek highlights the attractive opportunities in the lower and core middle-market, where lenders have the potential to secure favorable deal terms and pursue higher risk-adjusted returns.
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 be June 18, 2025 (the “Redemption Date”).
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Asset Management Industry | Financial Services Sector | Mr. John Francis Barry III, J.D. CEO | XSTU Exchange | US74348T1025 ISIN |
US Country | - Employees | 27 Aug 2025 Last Dividend | - Last Split | 27 Jul 2004 IPO Date |
Prospect Capital Corporation operates as a business development company, focusing primarily on the middle market and aiming to provide a broad range of financial solutions. It targets mature companies, as well as those in later stage and emerging growth phases, engaging in leveraged buyouts, refinancing, acquisitions, recapitalizations, and turnaround situations. The company places a strong emphasis on generating growth capital and addressing the needs for development, capital expenditures, and structured subordinated debt tranches, including those of collateralized loan obligations. Prospect Capital invests in secured debt, senior debt, equity, and a variety of loan formats, catering to a diverse portfolio of business needs. With a strategic eye on real estate, especially multi-family residential properties, the company encompasses a comprehensive investment approach. It primarily serves the United States and Canada, focusing on small to medium-sized private companies across multiple sectors.
Specializing in providing mezzanine finance and capital for companies in their later stages, focusing on growth and transitional phases.
Offering financial solutions for leveraged buyouts, refinancing existing debts, and facilitating acquisitions to drive business expansion and consolidation.
Engaging in recapitalization efforts and providing necessary support for turnaround situations to revitalize companies.
Funding the growth capital and development needs of companies, supporting their expansion and operational advancements.
Offering financing options for capital expenditures, enabling companies to invest in physical assets for their long-term benefit.
Providing subordinated debt options and investing in collateralized loan obligation tranches to offer layered financial solutions.
Engaging in marketplace lending and offering bridge loans to support companies during transitional funding periods.
Making targeted investments in the real estate sector, with a particular focus on the multi-family residential real estate asset class.
Investing in private debt and equity stakes in private and microcap public businesses, across various industry sectors.
Focusing on both the origination of primary loans and the acquisition of secondary loan portfolios, catering to diverse financing needs.
Targeting investments across all industry sectors with expertise in energy and industrial sectors, including aerospace, defense, financial services, healthcare, and technology among others.