Blue Owl Technology Finance Corp. (NYSE:OTF) Stock Has Consensus Target Price of $13.40 According to Analysts

Blue Owl Technology Finance Corp. (NYSE:OTF) has earned a consensus rating of “Moderate Buy” from the seven research firms that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $13.40.

A number of research analysts have weighed in on OTF shares. Citigroup reaffirmed an “outperform” rating on shares of Blue Owl Technology Finance in a research note on Friday, August 7th. 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. Wells Fargo & Company dropped their price target on shares of Blue Owl Technology Finance from $12.00 to $11.00 and set an “overweight” rating on the stock in a research report on Friday, November 6th. Finally, Citizens Jmp lifted their price target on Blue Owl Technology Finance from $16.00 to $17.00 and gave the company a “market outperform” rating in a research note on Friday, August 7th.

Blue Owl Technology Finance Stock Up 0.5%

Shares of NYSE:OTF opened at $9.51 on Monday. Blue Owl Technology Finance has a twelve month low of $8.76 and a twelve month high of $15.00. The stock’s 50 day moving average is $9.81 and its 200-day moving average is $10.95. The firm has a market capitalization of $4.30 billion, a price-to-earnings ratio of 8.02 and a beta of -0.54.

Blue Owl Technology Finance (NYSE:OTF) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.03). Blue Owl Technology Finance had a net margin of 27.11% and a return on equity of 7.06%. The business had revenue of $341.29 million during the quarter. During the same period in the prior year, the firm posted $0.32 earnings per share. Equities research analysts anticipate that Blue Owl Technology Finance will post 1.15 earnings per share for the current fiscal year.

Blue Owl Technology Finance Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 14.7%. The ex-dividend date is Thursday, December 31st. Blue Owl Technology Finance’s dividend payout ratio (DPR) is currently 179.49%.

Hedge Funds Weigh In On Blue Owl Technology Finance

Hedge funds and other institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System bought a new stake in Blue Owl Technology Finance in the first quarter worth $250,556,000. State of New Jersey Common Pension Fund A purchased a new stake in shares of Blue Owl Technology Finance in the third quarter worth $41,267,000. Laura & John Arnold Foundation bought a new position in shares of Blue Owl Technology Finance during the second quarter valued at $12,420,000. Wellington Management Group LLP bought a new position in shares of Blue Owl Technology Finance during the second quarter valued at $11,666,000. Finally, Requisite Capital Management LLC lifted its position in Blue Owl Technology Finance by 50.8% in the 2nd quarter. Requisite Capital Management LLC now owns 1,885,709 shares of the company’s stock valued at $20,267,000 after acquiring an additional 635,531 shares in the last quarter.

About Blue Owl Technology Finance

Blue Owl Technology Finance Corp. is a business development company that provides debt financing to technology-focused businesses. Its investment strategy centers on middle-market companies, particularly software and technology-enabled services firms. The company primarily invests in senior secured loans, including first-lien and unitranche financing, and may make other debt or equity investments. Its goal is to generate income from a portfolio of loans and related investments. Established in 2021, Blue Owl Technology Finance is externally managed by Blue Owl Credit Advisors, an affiliate of Blue Owl Capital.