Blue Owl Technology Finance Corp. (NYSE:OTF) Receives Average Rating of “Moderate Buy” from 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 firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $13.60.

A number of research analysts have recently commented on OTF shares. Royal Bank Of Canada restated 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. Zacks Research upgraded shares of Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 10th. Citizens Jmp boosted their price objective on shares of Blue Owl Technology Finance from $16.00 to $17.00 and gave the company a “market outperform” rating in a research report on Friday, August 7th. Finally, Citigroup restated an “outperform” rating on shares of Blue Owl Technology Finance in a research note on Friday, August 7th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Clearstead Advisors LLC bought a new stake in Blue Owl Technology Finance during the 4th quarter valued at $124,000. Abel Hall LLC bought a new position in shares of Blue Owl Technology Finance during the 1st quarter worth $124,000. Integrity Financial Corp WA purchased a new position in shares of Blue Owl Technology Finance during the second quarter valued at $123,000. Keybank National Association OH purchased a new position in shares of Blue Owl Technology Finance during the first quarter valued at $148,000. Finally, Americana Partners LLC bought a new stake in shares of Blue Owl Technology Finance in the fourth quarter valued at about $174,000.

Blue Owl Technology Finance Stock Performance

Shares of OTF stock opened at $10.26 on Friday. Blue Owl Technology Finance has a 52-week low of $9.75 and a 52-week high of $15.00. The firm has a market capitalization of $4.70 billion, a P/E ratio of 12.82 and a beta of -0.73. The stock has a 50 day moving average price of $10.82 and a 200 day moving average price of $11.07.

Blue Owl Technology Finance (NYSE:OTF) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.31 by $0.02. Blue Owl Technology Finance had a return on equity of 7.17% and a net margin of 28.69%.The company had revenue of $338.03 million for the quarter. During the same period last year, the company earned $0.45 EPS. As a group, sell-side analysts forecast that Blue Owl Technology Finance will post 1.25 EPS for the current year.

Blue Owl Technology Finance Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.35 per share. This is a boost from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. This represents a $1.40 annualized dividend and a dividend yield of 13.7%. The ex-dividend date of this dividend is Wednesday, September 30th. Blue Owl Technology Finance’s payout ratio is presently 175.00%.

Blue Owl Technology Finance Company Profile

Blue Owl Technology Finance Corp. is a business development company that provides financing to technology-focused companies. The company primarily invests in privately held, middle-market businesses through loans and other debt investments, seeking to support companies with established operations, recurring revenue, and growth opportunities.

Its investment portfolio may include senior secured, unitranche, second-lien, and subordinated loans, as well as warrants or other equity-related investments.