Blue Owl Technology Finance Corp. (NYSE:OTF) Given Average Rating of “Moderate Buy” by Brokerages

Blue Owl Technology Finance Corp. (NYSE:OTF) has earned a consensus rating of “Moderate Buy” from the seven brokerages that are presently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $13.60.

OTF has been the subject of several research reports. Wells Fargo & Company reduced their price target on shares of Blue Owl Technology Finance from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Zacks Research upgraded shares of Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th. Keefe, Bruyette & Woods reduced their target price on shares of Blue Owl Technology Finance from $13.00 to $12.00 and set a “market perform” rating for the company in a report on Tuesday, May 12th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $12.00 target price on shares of Blue Owl Technology Finance in a research note on Monday, August 17th. Finally, Truist Financial lowered their price target on Blue Owl Technology Finance from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Clearstead Advisors LLC purchased a new stake in shares of Blue Owl Technology Finance during the fourth quarter worth approximately $124,000. Kestra Advisory Services LLC purchased a new position in Blue Owl Technology Finance in the 4th quarter valued at $128,000. Abel Hall LLC acquired a new position in Blue Owl Technology Finance in the 1st quarter valued at $124,000. Onyx Bridge Wealth Group LLC acquired a new position in Blue Owl Technology Finance in the 4th quarter valued at $150,000. Finally, Integrity Financial Corp WA purchased a new position in Blue Owl Technology Finance during the 2nd quarter worth $123,000.

Blue Owl Technology Finance Trading Down 0.6%

Shares of NYSE OTF opened at $11.61 on Wednesday. Blue Owl Technology Finance has a twelve month low of $9.75 and a twelve month high of $15.82. The stock has a 50 day moving average of $10.66 and a two-hundred day moving average of $11.21. The stock has a market cap of $5.32 billion, a P/E ratio of 14.51 and a beta of -0.74.

Blue Owl Technology Finance (NYSE:OTF) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.02. The business had revenue of $279.54 million during the quarter. Blue Owl Technology Finance had a return on equity of 7.17% and a net margin of 28.69%.During the same period in the previous year, the company posted $0.45 earnings per share. As a group, research analysts predict that Blue Owl Technology Finance will post 1.25 earnings per share for the current year.

Blue Owl Technology Finance Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 12.1%. The ex-dividend date of this dividend is Wednesday, September 30th. This is a positive change from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. Blue Owl Technology Finance’s payout ratio is 175.00%.

About Blue Owl Technology Finance

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.