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

Blue Owl Capital Co. (NYSE:OBDC) declared a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Stockholders of record on Monday, March 31st will be given 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 of this dividend is Monday, March 31st.

Blue Owl Capital has increased its dividend payment by an average of 5.6% per year over the last three years. Blue Owl Capital has a payout ratio of 96.1% 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 Stock Down 0.7 %

Shares of NYSE OBDC traded down $0.12 during trading hours on Thursday, hitting $15.53. The stock had a trading volume of 3,615,827 shares, compared to its average volume of 2,973,498. The company has a market capitalization of $6.06 billion, a P/E ratio of 9.64 and a beta of 0.83. The firm’s 50-day moving average price is $15.10 and its two-hundred day moving average price is $14.97. Blue Owl Capital has a 52 week low of $13.98 and a 52 week high of $16.91. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.28 and a current ratio of 1.28.

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

Wall Street Analyst Weigh In

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

About Blue Owl Capital

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.