Blue Owl Technology Finance Corp. (NYSE:OTF) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Blue Owl Technology Finance Corp. (NYSE:OTF) has been given an average recommendation of “Moderate Buy” by the seven research firms that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $13.60.

OTF has been the topic of a number of research reports. Citizens Jmp boosted 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. Citigroup restated an “outperform” rating on shares of Blue Owl Technology Finance in a research report on Friday, August 7th. Finally, 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 report on Monday, August 17th.

Institutional Investors Weigh In On Blue Owl Technology Finance

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System purchased a new stake in shares of Blue Owl Technology Finance in the first quarter valued at $250,556,000. Laura & John Arnold Foundation purchased a new position in shares of Blue Owl Technology Finance during the second quarter valued at approximately $12,420,000. Wellington Management Group LLP bought a new position in shares of Blue Owl Technology Finance during the second quarter valued at approximately $11,666,000. Requisite Capital Management LLC grew its stake in shares of Blue Owl Technology Finance by 50.8% during the second 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. Finally, Royal Bank of Canada raised its holdings in shares of Blue Owl Technology Finance by 179.0% in the first quarter. Royal Bank of Canada now owns 826,317 shares of the company’s stock worth $10,238,000 after buying an additional 530,185 shares during the period.

Blue Owl Technology Finance Stock Performance

OTF stock opened at $9.02 on Thursday. The firm has a fifty day moving average price of $10.54 and a 200 day moving average price of $10.75. Blue Owl Technology Finance has a fifty-two week low of $8.92 and a fifty-two week high of $15.00. The firm has a market cap of $4.13 billion, a PE ratio of 11.27 and a beta of -0.58.

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, topping the consensus estimate of $0.31 by $0.02. The company had revenue of $338.03 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 quarter in the prior year, the firm posted $0.45 EPS. On average, equities analysts predict that Blue Owl Technology Finance will post 1.25 EPS for the current year.

Blue Owl Technology Finance Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This is an increase from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. This represents a $1.40 annualized dividend and a yield of 15.5%. Blue Owl Technology Finance’s payout ratio is presently 175.00%.

About Blue Owl Technology Finance

Blue Owl Technology Finance (NYSE: OTF) is a business development company that provides financing to technology-related businesses. The company primarily invests in senior secured loans and other debt investments, with a focus on companies operating in technology and technology-enabled industries.

Its portfolio may also include subordinated debt, equity investments and other securities, allowing it to support businesses at various stages of development. Blue Owl Technology Finance generally works with private, middle-market companies seeking capital for growth, acquisitions, recapitalizations and other corporate purposes.

The company is externally managed by an affiliate of Blue Owl Capital, an alternative asset manager.