Blue Owl Technology Finance Corp. (OTF) to Distribute Quarterly Dividend of $0.05 on July 7th

Blue Owl Technology Finance Corp. (NYSE:OTF) declared a quarterly dividend on Monday, June 2nd. Shareholders of record on Monday, June 22nd will be given a dividend of 0.05 per share on Tuesday, July 7th. This represents a c) dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Monday, June 22nd.

Blue Owl Technology Finance Price Performance

Shares of OTF opened at $10.65 on Friday. The company has a market capitalization of $4.93 billion and a price-to-earnings ratio of 11.84. The company has a 50-day moving average of $11.16. Blue Owl Technology Finance has a fifty-two week low of $10.48 and a fifty-two week high of $16.10.

Blue Owl Technology Finance (NYSE:OTF) last posted its earnings results on Wednesday, May 6th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.02). The company had revenue of $222.12 million for the quarter. Blue Owl Technology Finance had a return on equity of 7.43% and a net margin of 32.78%.During the same period in the previous year, the company posted $0.41 EPS. As a group, sell-side analysts expect that Blue Owl Technology Finance will post 1.26 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on OTF shares. Keefe, Bruyette & Woods cut their price objective 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 report on Tuesday, May 12th. Royal Bank Of Canada decreased their target price on Blue Owl Technology Finance from $14.00 to $12.00 and set a “sector perform” rating on the stock in a research report on Monday, May 18th. Citizens Jmp lowered their target price on Blue Owl Technology Finance from $17.00 to $16.00 and set a “market outperform” rating on the stock in a research note on Wednesday, April 22nd. Wells Fargo & Company dropped their price target on Blue Owl Technology Finance from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Finally, Zacks Research upgraded Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.40.

Blue Owl Technology Finance Company Profile

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.