Blackrock Capital Investment Corp (NASDAQ:BKCC) announced a quarterly dividend on Thursday, March 7th, Wall Street Journal reports. Investors of record on Monday, March 18th will be given a dividend of 0.18 per share by the asset manager on Monday, April 8th. This represents a $0.72 annualized dividend and a yield of 11.61%. The ex-dividend date of this dividend is Friday, March 15th.
Blackrock Capital Investment has decreased its dividend by an average of 5.0% per year over the last three years. Blackrock Capital Investment has a payout ratio of 110.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Blackrock Capital Investment to earn $0.70 per share next year, which means the company may not be able to cover its $0.72 annual dividend with an expected future payout ratio of 102.9%.
BKCC stock opened at $6.20 on Thursday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.09 and a current ratio of 1.09. Blackrock Capital Investment has a 12-month low of $5.06 and a 12-month high of $6.64. The stock has a market capitalization of $417.84 million, a P/E ratio of 9.34, a PEG ratio of 8.86 and a beta of 0.80.
Several equities research analysts recently issued reports on the company. BidaskClub cut Blackrock Capital Investment from a “hold” rating to a “sell” rating in a report on Tuesday. Zacks Investment Research cut Blackrock Capital Investment from a “hold” rating to a “sell” rating in a report on Tuesday, March 5th. Finally, JPMorgan Chase & Co. cut Blackrock Capital Investment from a “neutral” rating to an “underweight” rating and set a $6.00 price objective on the stock. in a report on Wednesday, January 16th. Three research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The stock has a consensus rating of “Sell” and a consensus price target of $6.00.
An institutional investor recently raised its position in Blackrock Capital Investment stock. Geode Capital Management LLC lifted its stake in shares of Blackrock Capital Investment Corp (NASDAQ:BKCC) by 66.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,927 shares of the asset manager’s stock after purchasing an additional 11,564 shares during the period. Geode Capital Management LLC’s holdings in Blackrock Capital Investment were worth $153,000 as of its most recent SEC filing. Institutional investors own 31.14% of the company’s stock.
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Blackrock Capital Investment Company Profile
BlackRock Capital Investment Corporation, formerly known as BlackRock Kelso Capital Corporation, is a Business Development Company specializing in investments in middle market companies. The fund invests in all industries. It prefers to invest between $10 million and $50 million and can invest more or less in companies with EBITDA or operating cash flow between $10 million and $50 million.
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