Prospect Capital Corporation offers preferred shares with a 5.35% coupon and 7.9% yield, but these trade at a significant discount to net asset value due to concerns over balance sheet and portfolio quality. The preferred shares yield less than the company's long-dated bonds, despite carrying greater bankruptcy risk, making them unattractive on a risk/reward basis. Analysts recommend selling the preferred shares and switching to the bonds for better yield and capital structure protection. This is notable as Prospect Capital is among the few business development companies with outstanding preferred shares.
Prospect Floating Rate and Alternative Income Fund announced a total annualized cash distribution rate of 14.96% based on its net asset value as of March 31, 2026. The Fund declared a monthly base cash distribution of $0.02924 per share and a quarter...
Prospect Capital Corporation held a special meeting of stockholders on June 23, 2026, to consider a proposal detailed in their proxy statement. However, the meeting was adjourned to July 7, 2026, to allow additional time to solicit votes from stockho...
Prospect Capital Corporation (PSEC) is currently trading at a deep 63% discount to its net asset value, near historical lows. Its portfolio is largely senior and secured debt diversified across 31 industries. Despite offering high yields around 8.18%...
