Pallas Capital Advisors LLC Cuts Position in Blue Owl Capital Co. (NYSE:OBDC)

Pallas Capital Advisors LLC decreased its position in Blue Owl Capital Co. (NYSE:OBDC) by 31.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,510 shares of the company’s stock after selling 15,862 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Blue Owl Capital were worth $522,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Adams Asset Advisors LLC raised its holdings in shares of Blue Owl Capital by 6.2% in the 4th quarter. Adams Asset Advisors LLC now owns 69,555 shares of the company’s stock valued at $1,052,000 after purchasing an additional 4,039 shares in the last quarter. Brookstone Capital Management raised its stake in Blue Owl Capital by 13.4% in the fourth quarter. Brookstone Capital Management now owns 99,820 shares of the company’s stock valued at $1,509,000 after buying an additional 11,813 shares in the last quarter. Winthrop Advisory Group LLC acquired a new stake in Blue Owl Capital in the fourth quarter valued at $870,000. Trinity Financial Advisors LLC lifted its holdings in Blue Owl Capital by 7.0% during the 4th quarter. Trinity Financial Advisors LLC now owns 945,289 shares of the company’s stock worth $14,784,000 after buying an additional 62,015 shares during the last quarter. Finally, Sterneck Capital Management LLC acquired a new position in shares of Blue Owl Capital during the 4th quarter worth about $256,000. Hedge funds and other institutional investors own 42.83% of the company’s stock.

Blue Owl Capital Trading Up 1.1 %

OBDC opened at $15.00 on Wednesday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.30. Blue Owl Capital Co. has a 52 week low of $13.98 and a 52 week high of $16.91. The business’s 50 day moving average is $15.12 and its two-hundred day moving average is $15.05. The firm has a market cap of $5.85 billion, a price-to-earnings ratio of 9.32 and a beta of 0.84.

Blue Owl Capital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.37 dividend. This is an increase from Blue Owl Capital’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 9.87%. Blue Owl Capital’s dividend payout ratio is 91.93%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on OBDC. Royal Bank of Canada reissued an “outperform” rating and set a $17.00 target price on shares of Blue Owl Capital in a research report on Tuesday, November 19th. Wells Fargo & Company raised their price objective on shares of Blue Owl Capital from $14.00 to $14.50 and gave the stock an “underweight” rating in a report on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods restated an “underperform” rating and issued a $14.00 target price (down previously from $15.50) on shares of Blue Owl Capital in a report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Blue Owl Capital presently has a consensus rating of “Moderate Buy” and an average target price of $15.92.

Blue Owl Capital 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.