Priority Income Fund, Inc.
PRIF-PL
New York Stock Exchange24.21
USD
-0.10
(+0.37%)
CIK
0001554625
ISIN
US74274W7561
CUSIP
74274W756
Return %
Stock
S&P500
1Y
3.24
26.53
3Y
13.72
76.60
5Y
-1.55
80.11
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Michael Grier Eliasek
- Sector
- Financial Services
- Industry
- Asset Management - Income
- Address
- 10 East 40th Street New York City NY United States of America 10016
- IPO Date
- Feb 24, 2022
- CIK
- 0001554625
- Website
- priority-incomefund.com
- Similar Companies
- Business
- Priority Income Fund, Inc. (PRIF-PL) is an externally managed, non-diversified, closed-end management investment company that generates current income and, secondarily, long-term capital appreciation by investing at least 80% of its total assets in securitized pools of first-lien senior secured loans to large U.S. companies with below-investment-grade debt ratings or directly in such senior secured, floating-rate loans in primary or secondary markets; it also invests in equity and junior tranches of collateralized loan obligations (CLOs), which provide exposure to diversified underlying loans across multiple industries. Headquartered in New York and founded in 2012 under the sponsorship of Prospect Capital Management LLC and Behringer Harvard Holdings, LLC, the fund targets middle-market and large borrowers with average EBITDA exceeding $100 million, emphasizing capital preservation through a first-lien focus on assets of rated companies; its portfolio includes approximately 139 investments with exposure to over 2,400 senior secured loans totaling around $63.6 billion in aggregate balance. Geographically, operations center on U.S.-based private and public companies, with investments managed by Priority Senior Secured Income Management, LLC, an SEC-registered adviser affiliated with Prospect Capital, which oversees $6.4 billion in assets as of late 2018. Recent developments include ongoing quarterly tender offers, such as the April 2023 repurchase of up to 1,099,918 common shares at net asset value, charter amendment proposals in preparation for a potential public listing amid high demand exceeding 2.5% of outstanding shares per quarter, sustained monthly distributions with annualized rates reaching 12.0% for December 2024 through February 2025 (comprising base and bonus components fully covered by net investment income) and 22.0% as announced in September 2025, and a May 2025 redemption of outstanding preferred stock series. Total assets stand at approximately $606 million, supporting consecutive monthly distributions over 83 months at around 10% annualized yield, with a historical low default rate of 2.19% versus market averages.