Blue Owl Technology Finance Corp. (NYSE:OTF) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Blue Owl Technology Finance Corp. (NYSE:OTF) have earned an average recommendation of “Moderate Buy” from the seven research firms that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $13.60.

A number of brokerages recently commented on OTF. Royal Bank Of Canada restated a “sector perform” rating and set a $12.00 price objective on shares of Blue Owl Technology Finance in a report on Monday, August 17th. Keefe, Bruyette & Woods reduced their target price on shares of Blue Owl Technology Finance from $13.00 to $12.00 and set a “market perform” rating for the company in a research note on Tuesday, May 12th. Truist Financial lowered their target price on Blue Owl Technology Finance from $16.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Wells Fargo & Company dropped their price target on Blue Owl Technology Finance from $13.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Finally, Zacks Research upgraded Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 10th.

Institutional Investors Weigh In On Blue Owl Technology Finance

Several institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System bought a new stake in shares of Blue Owl Technology Finance in the first quarter worth $250,556,000. Orange County Employees Retirement System bought a new position in Blue Owl Technology Finance in the fourth quarter valued at $116,497,000. Capricorn Investment Group LLC bought a new position in Blue Owl Technology Finance in the fourth quarter valued at $78,915,000. Rivernorth Capital Management LLC increased its stake in Blue Owl Technology Finance by 12.5% in the 1st quarter. Rivernorth Capital Management LLC now owns 2,176,269 shares of the company’s stock valued at $26,964,000 after buying an additional 241,543 shares during the last quarter. Finally, Requisite Capital Management LLC increased its stake in Blue Owl Technology Finance by 50.8% in the 2nd quarter. Requisite Capital Management LLC now owns 1,885,709 shares of the company’s stock valued at $20,267,000 after buying an additional 635,531 shares during the last quarter.

Blue Owl Technology Finance Stock Performance

NYSE OTF opened at $11.19 on Wednesday. The stock has a market cap of $5.12 billion, a price-to-earnings ratio of 13.98 and a beta of -0.86. The business has a 50 day simple moving average of $10.58 and a 200 day simple moving average of $11.25. Blue Owl Technology Finance has a 52-week low of $9.75 and a 52-week high of $15.82.

Blue Owl Technology Finance (NYSE:OTF) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. The firm had revenue of $279.54 million for the quarter. Blue Owl Technology Finance had a net margin of 28.69% and a return on equity of 7.17%. During the same period in the previous year, the firm posted $0.45 EPS. On average, analysts predict that Blue Owl Technology Finance will post 1.25 EPS for the current year.

Blue Owl Technology Finance Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.35 per share. The ex-dividend date is Wednesday, September 30th. This is a boost from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. This represents a $1.40 dividend on an annualized basis and a dividend yield of 12.5%. Blue Owl Technology Finance’s dividend payout ratio is 175.00%.

About Blue Owl Technology Finance

Blue Owl Technology Finance (NYSE: OTF) is a publicly traded business development company (BDC) sponsored by alternative asset manager Blue Owl. The firm focuses on providing customized debt and structured capital solutions to technology and technology-enabled companies, with an emphasis on growth-stage and middle-market borrowers. As a BDC, its primary activities include originating, structuring and managing private credit investments tailored to the financing needs of fast-growing businesses.

Its investment approach typically centers on direct lending and credit-oriented products, including senior secured loans, unitranche and subordinated debt, as well as selective equity-linked instruments and structured financings.