Kayne Anderson BDC (NYSE:KBDC) Price Target Lowered to $17.00 at Royal Bank of Canada

Kayne Anderson BDC (NYSE:KBDC) had its price target cut by Royal Bank of Canada from $18.00 to $17.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also issued reports on the stock. Wells Fargo & Company decreased their target price on shares of Kayne Anderson BDC from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday, April 28th. UBS Group reduced their price objective on Kayne Anderson BDC from $16.50 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Finally, Keefe, Bruyette & Woods dropped their target price on Kayne Anderson BDC from $17.00 to $16.50 and set a “market perform” rating on the stock in a research report on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Kayne Anderson BDC has a consensus rating of “Moderate Buy” and an average target price of $16.60.

Kayne Anderson BDC Trading Down 1.6 %

Shares of KBDC stock opened at $15.73 on Monday. Kayne Anderson BDC has a 1-year low of $13.93 and a 1-year high of $17.99. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.66. The stock’s fifty day simple moving average is $16.12 and its 200-day simple moving average is $16.54.

Kayne Anderson BDC (NYSE:KBDC) last released its earnings results on Monday, March 3rd. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.03). The business had revenue of $56.34 million for the quarter, compared to analysts’ expectations of $53.01 million. Kayne Anderson BDC had a net margin of 59.80% and a return on equity of 12.65%. On average, sell-side analysts expect that Kayne Anderson BDC will post 2.06 earnings per share for the current fiscal year.

Kayne Anderson BDC Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.60 annualized dividend and a yield of 10.17%.

Institutional Investors Weigh In On Kayne Anderson BDC

A number of large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its stake in shares of Kayne Anderson BDC by 4,201.5% in the fourth quarter. Bank of America Corp DE now owns 989,008 shares of the company’s stock worth $16,358,000 after buying an additional 966,016 shares during the last quarter. Sage Mountain Advisors LLC raised its holdings in Kayne Anderson BDC by 166.5% in the 1st quarter. Sage Mountain Advisors LLC now owns 541,109 shares of the company’s stock worth $8,777,000 after acquiring an additional 338,043 shares during the period. Requisite Capital Management LLC boosted its holdings in Kayne Anderson BDC by 10.9% during the first quarter. Requisite Capital Management LLC now owns 365,783 shares of the company’s stock valued at $6,083,000 after acquiring an additional 35,843 shares during the period. Corient Private Wealth LLC acquired a new stake in shares of Kayne Anderson BDC in the fourth quarter valued at about $4,205,000. Finally, Renaissance Technologies LLC grew its position in shares of Kayne Anderson BDC by 584.4% in the fourth quarter. Renaissance Technologies LLC now owns 145,100 shares of the company’s stock valued at $2,400,000 after purchasing an additional 123,900 shares during the last quarter.

Kayne Anderson BDC Company Profile

Kayne Anderson BDC Inc is a business development company which invests primarily in first lien senior secured loans, with a secondary focus on unitranche and split-lien loans to middle market companies. Kayne Anderson BDC Inc is based in CHICAGO.