Prospect Capital Corporation (PSEC) To Go Ex-Dividend on January 28th

Prospect Capital Corporation (NASDAQ:PSEC) declared a monthly dividend on Tuesday, November 4th. Stockholders of record on Wednesday, January 28th will be paid a dividend of 0.045 per share by the financial services provider on Wednesday, February 18th. This represents a c) dividend on an annualized basis and a dividend yield of 18.7%. The ex-dividend date is Wednesday, January 28th.

Prospect Capital has decreased its dividend payment by an average of 0.0%per year over the last three years. Prospect Capital has a dividend payout ratio of 114.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Prospect Capital Trading Up 1.0%

Shares of PSEC stock opened at $2.89 on Monday. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of -3.36 and a beta of 0.85. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.64. The firm has a 50-day moving average price of $2.66 and a 200 day moving average price of $2.80. Prospect Capital has a twelve month low of $2.45 and a twelve month high of $4.47.

Prospect Capital (NASDAQ:PSEC) last posted its quarterly earnings data on Thursday, November 6th. The financial services provider reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.06. The business had revenue of $119.44 million during the quarter, compared to analyst estimates of $169.53 million. Prospect Capital had a negative net margin of 42.50% and a positive return on equity of 12.29%.

Institutional Investors Weigh In On Prospect Capital

Several hedge funds have recently modified their holdings of PSEC. Private Trust Co. NA raised its position in shares of Prospect Capital by 38.5% during the 2nd quarter. Private Trust Co. NA now owns 11,639 shares of the financial services provider’s stock worth $37,000 after buying an additional 3,238 shares in the last quarter. Raymond James Financial Inc. increased its stake in shares of Prospect Capital by 0.5% during the second quarter. Raymond James Financial Inc. now owns 844,465 shares of the financial services provider’s stock valued at $2,685,000 after acquiring an additional 3,880 shares during the period. Inspire Advisors LLC increased its stake in shares of Prospect Capital by 17.1% during the second quarter. Inspire Advisors LLC now owns 27,432 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 4,015 shares during the period. D.A. Davidson & CO. raised its holdings in Prospect Capital by 1.3% during the second quarter. D.A. Davidson & CO. now owns 351,494 shares of the financial services provider’s stock worth $1,118,000 after purchasing an additional 4,613 shares in the last quarter. Finally, Cetera Investment Advisers lifted its position in Prospect Capital by 1.9% in the second quarter. Cetera Investment Advisers now owns 262,719 shares of the financial services provider’s stock worth $835,000 after purchasing an additional 4,978 shares during the period. 9.06% of the stock is currently owned by hedge funds and other institutional investors.

About Prospect Capital

Prospect Capital Corporation is a publicly traded business development company listed on the Nasdaq stock exchange that specializes in providing private debt and equity financing solutions to middle-market companies across the United States. Structured as a closed-end, non-diversified management investment company under the Investment Company Act of 1940, Prospect Capital offers investors access to a diversified portfolio of senior secured loans, subordinated debt and selective equity interests in privately held businesses.

Since its founding in 2004, Prospect Capital has focused on tailoring financing structures to meet the growth, acquisition and recapitalization needs of its portfolio companies.