Prospect Capital Corporation (NASDAQ:PSEC) that Prospect has declared monthly cash distributions to shareholders in the following amounts and with the following record and payment dates:
8.333 cents per share for November 2015 (record date of November 30, 2015 and payment date of December 24, 2015);
8.333 cents per share for December 2015 (record date of December 31, 2015 and payment date of January 21, 2016);
8.333 cents per share for January 2016 (record date of January 29, 2016 and payment date of February 18, 2016).
These distributions mark Prospect’s 88th, 89th, and 90th consecutive cash distributions to shareholders.
Prospect’s closing stock price of $7.30 as of November 2, 2015 delivers to shareholders a current dividend yield of 13.7%.
Based on past distributions and assuming its current share count for upcoming distributions, Prospect since inception through its January 2016 distribution will have distributed more than $14.37 per share to original shareholders and over $1.7 billion in cumulative distributions to all shareholders.
Prospect expects to declare its February, March and April 2016 distributions in February 2016. (Original Source)
Shares of Prospect Capital closed yesterday at $7.4 . PSEC has a 1-year high of $9.78 and a 1-year low of $5.30. The stock’s 50-day moving average is $7.42 and its 200-day moving average is $7.33.
On the ratings front, Prospect Capital has been the subject of a number of recent research reports. In a report issued on August 28, Wunderlich Securities analyst Merrill Ross maintained a Buy rating on PSEC, with a price target of $10.50, which implies an upside of 41.9% from current levels. Separately, on August 27, Cantor Fitzgerald’s David Chiaverini maintained a Hold rating on the stock and has a price target of $8.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Merrill Ross and David Chiaverini have a total average return of -1.5% and 6.8% respectively. Ross has a success rate of 44.3% and is ranked #3035 out of 3824 analysts, while Chiaverini has a success rate of 59.2% and is ranked #929.
Prospect Capital Corporation is a closed-end investment company. It invests in senior and subordinated debt and equity of companies in need of capital for acquisitions, divestitures, growth, development, recapitalizations and other purposes.