Prospect Capital Corporation is a business development company. It specializes in middle market, mature, mezzanine finance, later stage, emerging growth, leveraged buyouts, refinancing, acquisitions, recapitalizations, turnaround, growth capital, development, capital expenditures and subordinated debt tranches of collateralized loan obligations, cash flow term loans, market place lending and bridge transactions. It also makes real estate investments particularly in multi-family residential real estate asset class. The fund makes secured debt, senior debt, senior and secured term loans, unitranche debt, first-lien and second lien, private debt, private equity, mezzanine debt, and equity investments in private and microcap public businesses. It focuses on both primary origination and secondary loans/portfolios and invests in situations like debt financings for private equity sponsors, acquisitions, dividend recapitalizations, growth financings, bridge loans, cash flow term loans, real estate financings/investments. It also focuses on investing in small-sized and medium-sized private companies rather than large public companies. The fund typically invests across all industry sectors, with a particular expertise in the energy and industrial sectors. It invests in aerospace and defense, chemicals, conglomerate services, consumer services, ecological, electronics, financial services, machinery, manufacturing, media, pharmaceuticals, retail, software, specialty minerals, textiles and leather, transportation, oil and gas production, coal production, materials, industrials, consumer discretionary, information technology, utilities, pipeline, storage, power generation and distribution, renewable and clean energy, oilfield services, healthcare, food and beverage, education, business services, and other select sectors. It prefers to invest in the United States and Canada. The fund seeks to invest between $10 million to $500 million per transaction in companies with EBITDA between $5 million and $150 million, sales value between $25 million and $500 million, and enterprise value between $5 million and $1000 million. It fund also co-invests for larger deals. The fund seeks control acquisitions by providing multiple levels of the capital structure. The fund focuses on sole, agented, club, or syndicated deals.
IPO Year: 2004
Exchange: NASDAQ
Website: prospectstreet.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/9/2021 | Underperform → Market Perform | Raymond James | |
| 8/26/2021 | $6.00 → $6.50 | Underweight | Wells Fargo |
Catalent, Inc. (NYSE:CTLT), the leader in enabling the development and supply of better treatments for patients worldwide, today announced the appointment of Joseph A. Ferraro as Senior Vice President, General Counsel, Chief Compliance Officer, and Secretary. Mr. Ferraro will be responsible for managing Catalent's global legal and compliance operations. He will be based at the company's headquarters in Somerset, New Jersey, head up the company's Legal Leadership Team, and serve on its Executive Leadership Team, reporting directly to Catalent's Executive Vice President and Chief Administrative Officer, Steven Fasman. This press release features multimedia. View the full release here: https:/
8-K - PROSPECT CAPITAL CORP (0001287032) (Filer)
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8-K - PROSPECT CAPITAL CORP (0001287032) (Filer)
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POS EX - PROSPECT CAPITAL CORP (0001287032) (Filer)
8-K - PROSPECT CAPITAL CORP (0001287032) (Filer)
10-K/A - PROSPECT CAPITAL CORP (0001287032) (Filer)
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POS EX - PROSPECT CAPITAL CORP (0001287032) (Filer)
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Raymond James upgraded Prospect Capital from Underperform to Market Perform
Wells Fargo reiterated coverage of Prospect Capital with a rating of Underweight and set a new price target of $6.50 from $6.00 previously
Wells Fargo reiterated coverage of Prospect Capital with a rating of Underweight and set a new price target of $6.00 from $5.75 previously
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ATLANTA, Dec. 19, 2024 /PRNewswire/ -- NEWSTAR Exchange, a subsidiary of NEWSTAR, announced today that it has acquired Hadley Crossing by Stella Homes, a single-family rental subdivision located in Charlotte, North Carolina, and launched a new Delaware Statutory Trust offering for accredited investors seeking to complete like-kind exchanges under IRC Section 1031. www.newstar-am.com (PRNewsfoto/NewStar Asset Management)" alt="NEWSTAR | www.newstar-am.com (PRNewsfoto/NewStar Asset Management)"> The property was developed by NEWSTAR and features 44, 4-bedroom detached homes with
NEW YORK, Dec. 13, 2024 (GLOBE NEWSWIRE) -- Keefe, Bruyette & Woods, Inc., a leading specialist investment bank to the financial services and fintech sectors, and a wholly owned subsidiary of Stifel Financial Corp. (NYSE:SF), announces the upcoming index rebalancing for the fourth quarter of 2024. This quarter, there are constituent changes within four of our indexes: the KBW Nasdaq Capital Markets Index (Index Ticker: KSX, ETF Ticker:N/A), KBW Nasdaq Financial Technology Index (Index Ticker: KFTX, ETF Ticker: FTEK.LN), KBW Nasdaq Financial Sector Dividend Yield Index (Index Ticker: KDX, ETF Ticker: KBWD), and KBW Nasdaq Premium Yield Equity REIT Index (Index Ticker: KYX, ETF Ticker: KBWY
NEW YORK, Dec. 09, 2024 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ:PSEC) ("Prospect", "our", or "we") is pleased to host an upcoming webinar for financial professionals titled "Preferred Stock as a Low Volatility, Downside Protected, and Income Generating Asset Class". The webinar will provide attendees an overview of the preferred stock asset class and what makes such asset class different than other fixed income investments. Please join us for the presentation on December 12, 2024, at 2:00pm ET. Registration is available here. This webinar is accepted for 1 CFP® / IWI / CFA CE Credit. Prospect and its affiliates are hosting the third webinar of its ongoing investor educati
NEW YORK, Nov. 25, 2024 (GLOBE NEWSWIRE) -- National Property REIT Corp. ("NPRC") announced today it recently sold its Arlington Park ("Arlington") multifamily residential property in Marietta, Georgia, for $20.0 million, achieving a 2.4 times cash on cash return on the investment. Since inception, NPRC has invested in 110 real estate properties, including 83 multifamily residential apartment properties (representing 32,073 multifamily units), 12 self-storage properties, 8 student housing properties, 4 senor living residential properties, and 3 single tenant net lease facilities, totaling 36 million rentable square feet. "The successful sale of two Georgia properties earlier this mon
NEW YORK, Nov. 22, 2024 (GLOBE NEWSWIRE) -- Priority Income Fund, Inc. ("Priority Income Fund" or the "Fund") announced today that it will redeem all outstanding shares of its 6.250% Series G Term Preferred Stock Due 2026 ((CUSIP: 74274W 814, NYSE:PRIF) (the "Series G Preferred Shares") at a price of $25 per Series G Preferred Share, plus accrued but unpaid dividends per Series G Preferred Share from September 30, 2024, to but excluding, the Redemption Date (the "Redemption Price"). The redemption date will be December 23, 2024 (the "Redemption Date"). On the Redemption Date, the Redemption Price will become due and payable on the Series G Preferred Shares and any dividends shall cease to
NEW YORK, Nov. 21, 2024 (GLOBE NEWSWIRE) -- National Property REIT Corp. ("NPRC") announced today it recently sold its Dylan at Grayson ("Dylan") multifamily residential property in Grayson, Georgia, for $56.7 million, achieving a 1.7 times cash on cash return on the investment acquired in December 2020. Since inception, NPRC has invested in 110 real estate properties, including 83 multifamily residential apartment properties (representing 32,073 multifamily units), 12 self-storage properties, 8 student housing properties, 4 senior living residential properties, and 3 single tenant net lease facilities, totaling 36 million rentable square feet. "The Dylan sale demonstrates the strong
NEW YORK, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ:PSEC) ("Prospect") announced today that Grier Eliasek, President and Chief Operating Officer is scheduled to participate at the Markets Group Private Credit Conference. Mr. Eliasek is planned to present on the panel "New Ways to Counter Today's Headwinds with Opportunistic and Niche Credit Strategies" on Wednesday, December 4, 2024, at 10:10am. About Prospect Capital Corporation Prospect is a business development company lending to and investing in private businesses. Prospect's investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.
NEW YORK, Nov. 08, 2024 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ:PSEC) ("Prospect", "our", or "we") today announced financial results for our fiscal quarter ended September 30, 2024. "We are rightsizing our common shareholder distribution rate as we continue to execute our long-term income and total return strategy by rotating structured credit CLO equity and real estate investments into our core business of first lien senior secured middle market loans, including sometimes with selected equity co-investments," said John Barry, Chairman and Chief Executive Officer of Prospect. "Our preferred shareholder cash distributions continue at the contractual rates of such distribu
NEW YORK, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ:PSEC) (the "Company" or "Prospect") today announced it expects to file with the Securities and Exchange Commission its report on Form 10-Q containing results for the fiscal quarter ended September 30, 2024 on Friday, November 8, 2024. The Company also expects to issue its earnings press release on Friday, November 8, 2024, before the opening of the markets. The Company will host a conference call on Friday, November 8, 2024 at 9:00 a.m. Eastern Time. The conference call dial-in number will be 888-338-7333. A recording of the conference call will be available for approximately 30 days. To hear a replay, call
NEW YORK, Oct. 21, 2024 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ:PSEC) ("Prospect", "our", or "we") announced today an upsize to Prospect's preferred stock offering (the "Preferred Stock" or the "Offering") with Preferred Capital Securities ("PCS"). The Offering has seen strong demand from the private wealth, institutional, and Registered Investment Advisor channels, with $1.8 billion in aggregate liquidation preference issuances since the initial closing in the quarter ending December 31, 2020. "Prospect's non-traded preferred stock offers investors recurring cash income with a stable stated value, ongoing liquidity, management alignment, leverage caps, and over $3.7 bill
ATLANTA, Dec. 19, 2024 /PRNewswire/ -- NEWSTAR Exchange, a subsidiary of NEWSTAR, announced today that it has acquired Hadley Crossing by Stella Homes, a single-family rental subdivision located in Charlotte, North Carolina, and launched a new Delaware Statutory Trust offering for accredited investors seeking to complete like-kind exchanges under IRC Section 1031. www.newstar-am.com (PRNewsfoto/NewStar Asset Management)" alt="NEWSTAR | www.newstar-am.com (PRNewsfoto/NewStar Asset Management)"> The property was developed by NEWSTAR and features 44, 4-bedroom detached homes with
NEW YORK, Dec. 13, 2024 (GLOBE NEWSWIRE) -- Keefe, Bruyette & Woods, Inc., a leading specialist investment bank to the financial services and fintech sectors, and a wholly owned subsidiary of Stifel Financial Corp. (NYSE:SF), announces the upcoming index rebalancing for the fourth quarter of 2024. This quarter, there are constituent changes within four of our indexes: the KBW Nasdaq Capital Markets Index (Index Ticker: KSX, ETF Ticker:N/A), KBW Nasdaq Financial Technology Index (Index Ticker: KFTX, ETF Ticker: FTEK.LN), KBW Nasdaq Financial Sector Dividend Yield Index (Index Ticker: KDX, ETF Ticker: KBWD), and KBW Nasdaq Premium Yield Equity REIT Index (Index Ticker: KYX, ETF Ticker: KBWY
NEW YORK, Nov. 25, 2024 (GLOBE NEWSWIRE) -- National Property REIT Corp. ("NPRC") announced today it recently sold its Arlington Park ("Arlington") multifamily residential property in Marietta, Georgia, for $20.0 million, achieving a 2.4 times cash on cash return on the investment. Since inception, NPRC has invested in 110 real estate properties, including 83 multifamily residential apartment properties (representing 32,073 multifamily units), 12 self-storage properties, 8 student housing properties, 4 senor living residential properties, and 3 single tenant net lease facilities, totaling 36 million rentable square feet. "The successful sale of two Georgia properties earlier this mon
NEW YORK, Nov. 22, 2024 (GLOBE NEWSWIRE) -- Priority Income Fund, Inc. ("Priority Income Fund" or the "Fund") announced today that it will redeem all outstanding shares of its 6.250% Series G Term Preferred Stock Due 2026 ((CUSIP: 74274W 814, NYSE:PRIF) (the "Series G Preferred Shares") at a price of $25 per Series G Preferred Share, plus accrued but unpaid dividends per Series G Preferred Share from September 30, 2024, to but excluding, the Redemption Date (the "Redemption Price"). The redemption date will be December 23, 2024 (the "Redemption Date"). On the Redemption Date, the Redemption Price will become due and payable on the Series G Preferred Shares and any dividends shall cease to
NEW YORK, Nov. 21, 2024 (GLOBE NEWSWIRE) -- National Property REIT Corp. ("NPRC") announced today it recently sold its Dylan at Grayson ("Dylan") multifamily residential property in Grayson, Georgia, for $56.7 million, achieving a 1.7 times cash on cash return on the investment acquired in December 2020. Since inception, NPRC has invested in 110 real estate properties, including 83 multifamily residential apartment properties (representing 32,073 multifamily units), 12 self-storage properties, 8 student housing properties, 4 senior living residential properties, and 3 single tenant net lease facilities, totaling 36 million rentable square feet. "The Dylan sale demonstrates the strong
NEW YORK, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ:PSEC) (the "Company" or "Prospect") today announced it expects to file with the Securities and Exchange Commission its report on Form 10-Q containing results for the fiscal quarter ended September 30, 2024 on Friday, November 8, 2024. The Company also expects to issue its earnings press release on Friday, November 8, 2024, before the opening of the markets. The Company will host a conference call on Friday, November 8, 2024 at 9:00 a.m. Eastern Time. The conference call dial-in number will be 888-338-7333. A recording of the conference call will be available for approximately 30 days. To hear a replay, call
NEW YORK, Oct. 21, 2024 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ:PSEC) ("Prospect", "our", or "we") announced today an upsize to Prospect's preferred stock offering (the "Preferred Stock" or the "Offering") with Preferred Capital Securities ("PCS"). The Offering has seen strong demand from the private wealth, institutional, and Registered Investment Advisor channels, with $1.8 billion in aggregate liquidation preference issuances since the initial closing in the quarter ending December 31, 2020. "Prospect's non-traded preferred stock offers investors recurring cash income with a stable stated value, ongoing liquidity, management alignment, leverage caps, and over $3.7 bill
NEW YORK, Aug. 28, 2024 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ:PSEC) ("Prospect", "our", or "we") today announced financial results for our fiscal quarter and fiscal year ended June 30, 2024. Prospect Capital Corporation celebrates its 20th anniversary as a leading provider of private debt and equity to U.S. middle-market companies Long History and Large Scale: Prospect is one of the largest ($7.9B in total assets) and oldest publicly traded BDCs. Founded in 2004, Prospect's 20-year history began before and invested during and across the Great Financial Crisis, unlike the vast bulk of other BDCs with much shorter histories. Downside Protection Focus: 81% of portf
NEW YORK, Aug. 27, 2024 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ:PSEC) (the "Company") today announced it expects to file with the Securities and Exchange Commission its report on Form 10-K containing results for the fiscal year ended June 30, 2024 and to issue its earnings press release Wednesday, August 28, 2024 after the close of the markets. The Company will host a conference call on Thursday, August 29, 2024 at 9:00 a.m. Eastern Time. The conference call dial-in number will be 888-338-7333. A recording of the conference call will be available for approximately 30 days. To hear a replay, call 877-344-7529 and use passcode 2929037. The conference call will also be avai
NEW YORK, May 08, 2024 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ:PSEC) ("Prospect", "our", or "we") today announced financial results for our fiscal quarter ended March 31, 2024. FINANCIAL RESULTS All amounts in $000's exceptper share amounts (on weighted averagebasis for period numbers)Quarter EndedMarch 31, 2024Quarter EndedDecember 31, 2023Quarter EndedMarch 31, 2023 Net Investment Income ("NII")$94,375$96,927$102,180NII per Common Share$0.23$0.24$0.26Interest as % of Total Investment Income91.0%92.3%92.1% Net Income (Loss) Applicable to Common Shareholders$113,891$(51,436)$(108,947)Net Income (Loss) per Common Share$0.27$(0.13)$(0.27) Distributions to Common