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

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 given a dividend of 0.37 per share on Tuesday, April 15th. This represents a $1.48 annualized dividend and a dividend yield of 9.84%. The ex-dividend date is Monday, March 31st.

Blue Owl Capital has raised its dividend payment by an average of 5.6% annually over the last three years. Blue Owl Capital has a payout ratio of 91.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research 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 1.7 %

Blue Owl Capital stock opened at $15.05 on Friday. Blue Owl Capital has a twelve month low of $13.98 and a twelve month high of $16.91. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.28 and a current ratio of 1.19. The firm has a market cap of $7.69 billion, a PE ratio of 9.83 and a beta of 0.85. The firm’s 50 day moving average price is $15.05 and its two-hundred day moving average price is $15.02.

Blue Owl Capital (NYSE:OBDC) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The business had revenue of $394.39 million for the quarter, compared to the consensus estimate of $395.24 million. Blue Owl Capital had a net margin of 37.26% and a return on equity of 12.38%. On average, research analysts predict that Blue Owl Capital will post 1.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company upgraded Blue Owl Capital from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $14.00 to $15.00 in a report on Monday, March 17th. JMP Securities reiterated an “outperform” rating on shares of Blue Owl Capital in a research note on Tuesday, February 4th. Keefe, Bruyette & Woods upgraded shares of Blue Owl Capital from a “moderate sell” rating to a “hold” rating in a research note on Friday, February 21st. Finally, Citizens Jmp upgraded shares of Blue Owl Capital to a “strong-buy” rating in a report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $16.17.

Insider Activity

In other Blue Owl Capital news, Director Chris Temple purchased 15,000 shares of the stock in a transaction dated Thursday, March 6th. The shares were bought at an average cost of $14.80 per share, with a total value of $222,000.00. Following the completion of the transaction, the director now owns 51,000 shares in the company, valued at $754,800. This trade represents a 41.67 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.12% of the company’s stock.

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.