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

Blue Owl Capital Co. (NYSE:OBDC - Get Free Report) announced a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Stockholders of record on Monday, March 31st will be paid 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 is Monday, March 31st.

Blue Owl Capital has raised its dividend by an average of 5.6% per year 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 fall. 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 Trading Down 0.6 %

OBDC traded down $0.10 during trading on Friday, reaching $15.44. The company had a trading volume of 2,694,086 shares, compared to its average volume of 3,099,565. Blue Owl Capital has a 12-month low of $13.98 and a 12-month high of $16.91. The firm's 50-day simple moving average is $15.11 and its 200 day simple moving average is $14.99. The company has a market cap of $6.02 billion, a price-to-earnings ratio of 10.09 and a beta of 0.83. 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 (NYSE:OBDC - Get Free Report) last issued 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 business had revenue of $394.39 million during the quarter, compared to the consensus estimate of $395.24 million. Equities research analysts anticipate that Blue Owl Capital will post 1.71 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on OBDC. Wells Fargo & Company raised their target price on Blue Owl Capital from $14.00 to $14.50 and gave the stock an "underweight" rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods restated an "underperform" rating and set a $14.00 price objective (down from $15.50) on shares of Blue Owl Capital in a research report on Thursday, December 12th. Citizens Jmp upgraded Blue Owl Capital to a "strong-buy" rating in a report on Monday, February 3rd. Royal Bank of Canada restated an "outperform" rating and set a $17.00 price target on shares of Blue Owl Capital in a report on Tuesday, November 19th. Finally, JMP Securities boosted their price objective on shares of 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. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target 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.