Blue Owl Technology Finance Corp. (NYSE:OTF) Receives $13.60 Consensus Target Price from Analysts

Blue Owl Technology Finance Corp. (NYSE:OTF) has been assigned an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the stock, MarketBeat.com reports. Three equities research 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 brokerages that have issued ratings on the stock in the last year is $13.60.

OTF has been the subject of several recent analyst reports. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $12.00 price target on shares of Blue Owl Technology Finance in a research report on Monday, August 17th. Citigroup restated an “outperform” rating on shares of Blue Owl Technology Finance in a research note on Friday, August 7th. Citizens Jmp lifted their target price on shares of Blue Owl Technology Finance from $16.00 to $17.00 and gave the stock a “market outperform” rating in a report on Friday, August 7th. Finally, Zacks Research upgraded shares of Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th.

Institutional Trading of Blue Owl Technology Finance

Institutional investors have recently added to or reduced their stakes in the business. Integrity Financial Corp WA purchased a new stake in Blue Owl Technology Finance in the second quarter worth approximately $123,000. Clearstead Advisors LLC bought a new stake in Blue Owl Technology Finance in the 4th quarter worth approximately $124,000. Abel Hall LLC purchased a new stake in Blue Owl Technology Finance during the 1st quarter valued at $124,000. Keybank National Association OH bought a new position in shares of Blue Owl Technology Finance during the 1st quarter valued at $148,000. Finally, Kestra Advisory Services LLC lifted its holdings in shares of Blue Owl Technology Finance by 39.1% during the 1st quarter. Kestra Advisory Services LLC now owns 12,241 shares of the company’s stock valued at $152,000 after buying an additional 3,443 shares during the period.

Blue Owl Technology Finance Stock Down 1.5%

Shares of OTF opened at $10.48 on Friday. The business’s 50 day moving average price is $10.82 and its 200-day moving average price is $11.09. Blue Owl Technology Finance has a 52 week low of $9.75 and a 52 week high of $15.00. The stock has a market cap of $4.80 billion, a P/E ratio of 13.11 and a beta of -0.73.

Blue Owl Technology Finance (NYSE:OTF) last posted its quarterly earnings data 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 company had revenue of $338.03 million during the quarter. Blue Owl Technology Finance had a return on equity of 7.17% and a net margin of 28.69%.During the same period last year, the business earned $0.45 EPS. On average, equities analysts anticipate 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 $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 13.4%. The ex-dividend date is Wednesday, September 30th. This is an increase from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. Blue Owl Technology Finance’s dividend payout ratio (DPR) is presently 175.00%.

Blue Owl Technology Finance Company Profile

Blue Owl Technology Finance Corp. is a business development company that provides financing to technology-focused companies. The company primarily invests in privately held, middle-market businesses through loans and other debt investments, seeking to support companies with established operations, recurring revenue, and growth opportunities.

Its investment portfolio may include senior secured, unitranche, second-lien, and subordinated loans, as well as warrants or other equity-related investments.