Blue Owl Capital Co. Declares Quarterly Dividend of $0.37 (NYSE:OBDC)

Blue Owl Capital Co. (NYSE:OBDC) announced a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Investors of record on Monday, March 31st will be paid a dividend of 0.37 per share on Tuesday, April 15th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 9.53%. The ex-dividend date is Monday, March 31st.

Blue Owl Capital has raised its dividend by an average of 5.6% per year over the last three years. Blue Owl Capital has a dividend payout ratio of 96.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Blue Owl Capital to earn $1.71 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 86.5%.

Blue Owl Capital Trading Down 0.7 %

Shares of Blue Owl Capital stock traded down $0.12 during trading on Thursday, reaching $15.53. 3,615,827 shares of the company were exchanged, compared to its average volume of 2,973,498. The firm has a market capitalization of $6.06 billion, a price-to-earnings ratio of 9.64 and a beta of 0.83. Blue Owl Capital has a twelve month low of $13.98 and a twelve month high of $16.91. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.30. The business has a 50-day moving average price of $15.10 and a 200-day moving average price of $14.97.

Blue Owl Capital (NYSE:OBDC) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.46 by $0.01. Blue Owl Capital had a return on equity of 12.59% and a net margin of 38.99%. The business had revenue of $394.39 million for the quarter, compared to the consensus estimate of $395.24 million. Sell-side analysts anticipate that Blue Owl Capital will post 1.9 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on OBDC shares. Wells Fargo & Company boosted their price target on Blue Owl Capital from $14.00 to $14.50 and gave the company an “underweight” rating in a report on Tuesday, October 29th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $17.00 price target on shares of Blue Owl Capital in a research report on Tuesday, November 19th. Citizens Jmp raised shares of Blue Owl Capital to a “strong-buy” rating in a research note on Monday, February 3rd. JMP Securities raised their price target on shares of Blue Owl Capital from $16.50 to $17.00 and gave the stock a “market outperform” rating in a research note on Tuesday, February 4th. Finally, Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $14.00 price target (down from $15.50) on shares of Blue Owl Capital in a research note on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.08.

Blue Owl Capital Company Profile

Blue Owl Capital Corporation is a business development company. It specializes in direct and fund of fund investments. The fund makes investments in senior secured, direct lending or unsecured loans, subordinated loans or mezzanine loans and also considers equity-related securities including warrants and preferred stocks also pursues preferred equity investments, first lien, unitranche, and second lien term loans and common equity investments.