Kayne Anderson BDC’s (KBDC) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Kayne Anderson BDC (NYSE:KBDC) in a research note published on Monday morning,Benzinga reports. They currently have a $17.00 price objective on the stock.

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

Kayne Anderson BDC Trading Down 0.1%

KBDC stock opened at $16.33 on Monday. The firm has a fifty day moving average price of $15.99 and a 200 day moving average price of $16.53. Kayne Anderson BDC has a fifty-two week low of $13.93 and a fifty-two week high of $17.99. The firm has a market cap of $1.16 billion and a PE ratio of 9.07. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.36 and a current ratio of 1.36.

Kayne Anderson BDC (NYSE:KBDC) last issued its quarterly earnings data on Monday, May 12th. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.02). The company had revenue of $55.25 million for the quarter, compared to the consensus estimate of $58.43 million. Kayne Anderson BDC had a return on equity of 12.65% and a net margin of 59.80%. Sell-side analysts anticipate that Kayne Anderson BDC will post 2.06 earnings per share for the current fiscal year.

Kayne Anderson BDC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 16th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 9.80%. The ex-dividend date of this dividend is Monday, June 30th. Kayne Anderson BDC’s payout ratio is 88.89%.

Institutional Investors Weigh In On Kayne Anderson BDC

Large investors have recently modified their holdings of the business. Requisite Capital Management LLC bought a new position in Kayne Anderson BDC in the fourth quarter worth approximately $5,589,000. Summit Trail Advisors LLC purchased a new stake in shares of Kayne Anderson BDC during the 4th quarter worth $900,000. Franklin Resources Inc. boosted its position in Kayne Anderson BDC by 21.1% during the third quarter. Franklin Resources Inc. now owns 64,680 shares of the company’s stock valued at $1,033,000 after purchasing an additional 11,289 shares in the last quarter. Cerity Partners LLC purchased a new position in Kayne Anderson BDC in the fourth quarter valued at about $170,000. Finally, Invesco Ltd. bought a new position in Kayne Anderson BDC in the fourth quarter worth about $712,000.

About Kayne Anderson BDC

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.