Blue Owl Capital Co. (OBDC) To Go Ex-Dividend on March 31st

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 yield of 9.84%. The ex-dividend date is Monday, March 31st.

Blue Owl Capital has increased its dividend by an average of 5.6% per year over the last three years. Blue Owl Capital has a payout ratio of 91.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. 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 Price Performance

Shares of OBDC opened at $15.05 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.19 and a quick ratio of 1.28. The company has a market cap of $7.69 billion, a P/E ratio of 9.83 and a beta of 0.85. Blue Owl Capital has a 12 month low of $13.98 and a 12 month high of $16.91. The stock has a fifty day moving average price of $15.05 and a 200 day moving average price of $15.02.

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

Analysts Set New Price Targets

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

Insider Activity

In related news, Director Chris Temple bought 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were acquired at an average cost of $14.80 per share, for a total transaction of $222,000.00. Following the acquisition, the director now directly owns 51,000 shares of the company’s stock, valued at $754,800. The trade was a 41.67 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.12% of the company’s stock.

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.