Strs Ohio Acquires 8,802,373 Shares of Blue Owl Capital Corporation $OBDC

Strs Ohio increased its holdings in Blue Owl Capital Corporation (NYSE:OBDC) by 411.4% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 10,941,976 shares of the company’s stock after acquiring an additional 8,802,373 shares during the quarter. Strs Ohio’s holdings in Blue Owl Capital were worth $121,018,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in OBDC. Van ECK Associates Corp increased its holdings in Blue Owl Capital by 6.0% during the third quarter. Van ECK Associates Corp now owns 13,364,378 shares of the company’s stock valued at $170,663,000 after buying an additional 757,203 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Blue Owl Capital by 6.5% during the 3rd quarter. Bank of America Corp DE now owns 13,275,411 shares of the company’s stock worth $169,527,000 after acquiring an additional 811,973 shares during the last quarter. UBS Group AG boosted its stake in shares of Blue Owl Capital by 40.6% during the 4th quarter. UBS Group AG now owns 8,528,672 shares of the company’s stock worth $106,011,000 after acquiring an additional 2,463,080 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Blue Owl Capital by 13.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,454,128 shares of the company’s stock valued at $69,005,000 after acquiring an additional 659,025 shares during the period. Finally, Sound Income Strategies LLC grew its position in shares of Blue Owl Capital by 11.4% during the 4th quarter. Sound Income Strategies LLC now owns 3,779,901 shares of the company’s stock valued at $47,665,000 after acquiring an additional 387,347 shares during the period. 42.83% of the stock is currently owned by institutional investors.

Blue Owl Capital Price Performance

Shares of NYSE:OBDC opened at $10.81 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.24 and a quick ratio of 1.24. Blue Owl Capital Corporation has a 1-year low of $10.52 and a 1-year high of $15.19. The company has a market capitalization of $5.37 billion, a P/E ratio of 15.45 and a beta of 0.62. The firm’s 50 day simple moving average is $11.14 and its two-hundred day simple moving average is $11.57.

Blue Owl Capital (NYSE:OBDC) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.04). The firm had revenue of $391.00 million during the quarter, compared to analysts’ expectations of $422.02 million. Blue Owl Capital had a return on equity of 9.76% and a net margin of 20.21%. Research analysts expect that Blue Owl Capital Corporation will post 1.27 EPS for the current fiscal year.

Blue Owl Capital Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.24 annualized dividend and a yield of 11.5%. Blue Owl Capital’s dividend payout ratio is currently 177.14%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on OBDC shares. Keefe, Bruyette & Woods reduced their price objective on Blue Owl Capital from $12.50 to $12.00 and set a “market perform” rating for the company in a research note on Thursday, April 16th. Wall Street Zen upgraded Blue Owl Capital from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Truist Financial cut their price target on Blue Owl Capital from $15.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Finally, Wells Fargo & Company reduced their price target on Blue Owl Capital from $12.00 to $11.00 and set an “equal weight” rating for the company in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $13.00.

About Blue Owl Capital

Blue Owl Capital Corporation (NYSE: OBDC) is a publicly traded business development company sponsored by Blue Owl Capital, a global alternative asset manager. Launched in 2020, the firm provides customized financing solutions to middle-market companies across various industries. As an externally managed BDC, Blue Owl Capital Corporation leverages the deep credit‐investment capabilities of its sponsor to deliver flexible capital tailored to the needs of growing businesses.

The company’s investment activities span a range of private credit products, including first‐lien senior secured loans, unitranche facilities, second‐lien financings, mezzanine debt, and minority equity co-investments.