Kayne Anderson BDC (NYSE:KBDC) Hits New 12-Month High – What’s Next?

Kayne Anderson BDC, Inc. (NYSE:KBDC) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $16.85 and last traded at $16.70, with a volume of 13732 shares. The stock had previously closed at $16.75.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada upped their price objective on shares of Kayne Anderson BDC from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.30.

Kayne Anderson BDC Trading Up 0.7 %

The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.66. The company has a 50-day moving average price of $16.26.

Kayne Anderson BDC Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 9.49%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Kayne Anderson BDC’s previous quarterly dividend of $0.10.

Institutional Investors Weigh In On Kayne Anderson BDC

A number of institutional investors have recently added to or reduced their stakes in KBDC. Franklin Resources Inc. boosted its holdings 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 acquiring an additional 11,289 shares during the period. BNP Paribas Financial Markets acquired a new stake in shares of Kayne Anderson BDC during the third quarter worth approximately $44,000. Finally, Confluence Investment Management LLC increased its holdings in shares of Kayne Anderson BDC by 15.3% during the third quarter. Confluence Investment Management LLC now owns 103,788 shares of the company’s stock worth $1,682,000 after buying an additional 13,788 shares in the last quarter.

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.