Kayne Anderson BDC (NYSE:KBDC) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Kayne Anderson BDC (NYSE:KBDC) had its target price upped by Royal Bank of Canada from $17.00 to $18.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Kayne Anderson BDC Stock Down 1.0 %

KBDC stock opened at $16.46 on Monday. Kayne Anderson BDC has a 1 year low of $15.69 and a 1 year high of $16.80. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.53 and a current ratio of 1.36. The company has a 50 day moving average of $16.21.

Kayne Anderson BDC Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.60 dividend on an annualized basis and a yield of 9.72%. This is a positive change from Kayne Anderson BDC’s previous quarterly dividend of $0.10.

Institutional Investors Weigh In On Kayne Anderson BDC

A hedge fund recently bought a new stake in Kayne Anderson BDC stock. BNP Paribas Financial Markets purchased a new stake in Kayne Anderson BDC, Inc. (NYSE:KBDC) in the 3rd quarter, according to its most recent filing with the SEC. The fund purchased 2,722 shares of the company’s stock, valued at approximately $44,000.

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.