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

Blue Owl Capital Co. (NYSE:OBDC) announced a quarterly dividend on Thursday, August 8th, Wall Street Journal reports. Shareholders of record on Monday, September 30th will be paid a dividend of 0.37 per share on Tuesday, October 15th. This represents a $1.48 annualized dividend and a yield of 9.87%. The ex-dividend date of this dividend is Monday, September 30th. This is an increase from Blue Owl Capital’s previous quarterly dividend of $0.05.

Blue Owl Capital has raised its dividend payment by an average of 2.6% per year over the last three years. Blue Owl Capital has a dividend payout ratio of 85.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 Up 0.7 %

Shares of NYSE:OBDC opened at $15.00 on Friday. The business’s 50 day moving average price is $14.89 and its 200-day moving average price is $15.50. Blue Owl Capital has a 1 year low of $12.99 and a 1 year high of $16.91. The firm has a market capitalization of $5.85 billion, a price-to-earnings ratio of 7.58 and a beta of 0.87. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.84 and a quick ratio of 0.84.

Blue Owl Capital (NYSE:OBDC) last announced its earnings results on Wednesday, August 7th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.01. Blue Owl Capital had a net margin of 43.61% and a return on equity of 12.66%. The business had revenue of $396.76 million for the quarter, compared to analyst estimates of $388.84 million. On average, equities research analysts forecast that Blue Owl Capital will post 1.91 earnings per share for the current fiscal year.

Insider Transactions at Blue Owl Capital

In related news, Director Edward H. Dalelio bought 2,500 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were bought at an average price of $15.02 per share, with a total value of $37,550.00. Following the completion of the transaction, the director now directly owns 9,016 shares of the company’s stock, valued at approximately $135,420.32. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Royal Bank of Canada restated an “outperform” rating and issued a $17.00 target price on shares of Blue Owl Capital in a research report on Monday, August 12th. Truist Financial decreased their price objective on Blue Owl Capital from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Keefe, Bruyette & Woods reduced their target price on shares of Blue Owl Capital from $16.00 to $15.50 and set a “market perform” rating for the company in a research report on Tuesday, August 20th. Compass Point upgraded shares of Blue Owl Capital to a “strong-buy” rating in a research report on Monday, August 19th. Finally, Raymond James downgraded shares of Blue Owl Capital from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.94.

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.