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

Blue Owl Capital Co. (NYSE:OBDC) declared a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Stockholders 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 9.59%. The ex-dividend date of this dividend is Monday, March 31st.

Blue Owl Capital has increased its dividend by an average of 5.6% annually over the last three years. Blue Owl Capital has a dividend payout ratio of 96.1% indicating that 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 Price Performance

OBDC opened at $15.44 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.28 and a current ratio of 1.19. Blue Owl Capital has a 52-week low of $13.98 and a 52-week high of $16.91. The stock has a market capitalization of $6.02 billion, a PE ratio of 10.09 and a beta of 0.83. The stock’s 50 day moving average price is $15.11 and its 200-day moving average price is $14.99.

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

Wall Street Analyst Weigh In

OBDC has been the topic of several research reports. Citizens Jmp upgraded Blue Owl Capital to a “strong-buy” rating in a research report on Monday, February 3rd. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $14.00 target price (down from $15.50) on shares of Blue Owl Capital in a research note on Thursday, December 12th. JMP Securities increased their price objective on Blue Owl Capital from $16.50 to $17.00 and gave the company a “market outperform” rating in a research report on Tuesday, February 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $17.00 price objective on shares of Blue Owl Capital in a research report on Tuesday, November 19th. Finally, Wells Fargo & Company increased their price objective on Blue Owl Capital from $14.00 to $14.50 and gave the company an “underweight” rating in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.08.

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.