Prospect Capital Corp

PSEC

Equity

ISIN US74348T1025 / Valor 1916685

NASDAQ (2024-12-24)

USD 4.36+4.81%

Prospect Capital Corp
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About company

Prospect Capital Corporation operates as a prominent Business Development Company (BDC) that is publicly traded. The company specializes in providing both debt and equity investments to middle market businesses within the United States, spanning a diverse range of industries. Prospect Capital aims to generate consistent and attractive returns for its shareholders through these investments. The firm's portfolio includes investments in collateralized loan obligations (CLOs), among other financial instruments, reflecting its strategy to diversify across different asset classes. While Prospect Capital has been recognized with awards for its performance, it's important for investors to consider that such accolades are based on past achievements and may not necessarily predict future success.

Summarized from source with an LLMView SourceSector: Finance

Income Growth

Prospect Capital Corp reported a significant increase in net investment income for the quarter ended December 31, 2023. The company's net investment income rose to $63.1 million, reflecting a robust performance in its investment portfolio. This growth was driven by higher interest income from its diversified investment holdings.

Revenue Performance

For the quarter ended December 31, 2023, Prospect Capital Corp achieved total revenues of $171.7 million. This marks a substantial increase compared to the previous quarter, showcasing the company's ability to generate consistent revenue streams from its investments in middle-market lending, real estate, and structured notes.

Dividend Distribution

Prospect Capital Corp declared a dividend of $0.06 per share for the quarter ended December 31, 2023. The company continues to maintain a steady dividend payout, reflecting its commitment to returning value to shareholders. The dividend was supported by the company's strong earnings and cash flow generation.

Investment Portfolio

As of December 31, 2023, Prospect Capital Corp's total investments at fair value stood at $7.63 billion. The portfolio comprised 126 companies, with a mix of first lien debt, second lien debt, subordinated structured notes, unsecured debt, and equity investments. The company continues to focus on optimizing its portfolio performance and achieving attractive risk-adjusted returns.

Outlook and Strategy

Looking ahead, Prospect Capital Corp remains focused on growing its net investment income and net asset value per share. The company plans to leverage its $2.25 billion targeted preferred stock offerings, utilize its cost-efficient revolving credit facility, and capitalize on elevated short-term SOFR rates. Additionally, Prospect aims to enhance portfolio company performance and increase primary and secondary originations of senior secured debt and selected equity investments.

Summarized from source with an LLMView Source

Key figures

-29.4%1Y

-48.3%3Y

-33.7%5Y

Performance

27.8%1Y

27.5%3Y

31.2%5Y

Volatility