Blue Owl Capital Inc. (NYSE:OWL) Plans Quarterly Dividend of $0.18

Blue Owl Capital Inc. (NYSE:OWL) declared a quarterly dividend on Thursday, October 31st,Zacks Dividends reports. Shareholders of record on Monday, November 11th will be paid a dividend of 0.18 per share on Friday, November 22nd. This represents a $0.72 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend is Friday, November 8th.

Blue Owl Capital has a dividend payout ratio of 75.0% 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 $0.94 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 76.6%.

Blue Owl Capital Stock Down 2.8 %

Shares of NYSE OWL traded down $0.65 during midday trading on Thursday, hitting $22.75. The stock had a trading volume of 13,068,543 shares, compared to its average volume of 5,411,381. The company has a market capitalization of $33.29 billion, a PE ratio of 137.65, a P/E/G ratio of 1.39 and a beta of 1.14. The stock has a 50 day simple moving average of $20.07 and a 200-day simple moving average of $18.76. Blue Owl Capital has a 1 year low of $12.95 and a 1 year high of $24.17.

Blue Owl Capital (NYSE:OWL) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.20 EPS for the quarter, meeting the consensus estimate of $0.20. The firm had revenue of $600.88 million during the quarter, compared to analysts’ expectations of $565.93 million. Blue Owl Capital had a return on equity of 20.61% and a net margin of 4.95%. During the same quarter last year, the firm earned $0.16 earnings per share. As a group, analysts expect that Blue Owl Capital will post 0.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on OWL shares. Oppenheimer lifted their target price on Blue Owl Capital from $21.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Evercore ISI lifted their target price on Blue Owl Capital from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft lifted their price target on Blue Owl Capital from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Wells Fargo & Company lifted their price target on Blue Owl Capital from $18.50 to $21.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. Finally, Piper Sandler lifted their price target on Blue Owl Capital from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.15.

About Blue Owl Capital

Blue Owl Capital Inc operates as an asset manager in the United States. The company offers permanent capital base solutions that enables it to offer holistic framework of capital solutions to middle market companies, large alternative asset managers, and corporate real estate owners and tenants. It also provides direct lending products that offer private credit products comprising diversified, technology, first lien, and opportunistic lending to middle-market companies; liquid credit; GP strategic capital products, which offers capital solutions, including GP minority stakes, GP debt financing, and professional sports minority stakes; and real estate products that focuses on acquiring triple net lease real estate by investment grade or creditworthy tenants.