Blue Owl Technology Finance’s (OTF) “Sector Perform” Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada restated their sector perform rating on shares of Blue Owl Technology Finance (NYSE:OTF) in a research report report published on Monday,Benzinga reports. Royal Bank Of Canada currently has a $12.00 price target on the stock.

Several other research analysts also recently weighed in on OTF. Wells Fargo & Company dropped their target price on shares of 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. Zacks Research raised Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 10th. Citigroup restated an “outperform” rating on shares of Blue Owl Technology Finance in a research report on Friday, August 7th. Keefe, Bruyette & Woods dropped their price objective on Blue Owl Technology Finance from $13.00 to $12.00 and set a “market perform” rating for the company in a research note on Tuesday, May 12th. Finally, Truist Financial cut their target price on Blue Owl Technology Finance from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, May 19th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Blue Owl Technology Finance presently has an average rating of “Moderate Buy” and a consensus target price of $13.60.

Blue Owl Technology Finance Price Performance

Shares of NYSE:OTF opened at $11.18 on Monday. The company has a market capitalization of $5.12 billion, a P/E ratio of 13.97 and a beta of -0.86. Blue Owl Technology Finance has a 1-year low of $9.75 and a 1-year high of $15.82. The firm’s 50 day simple moving average is $10.58 and its two-hundred day simple moving average is $11.30.

Blue Owl Technology Finance (NYSE:OTF) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. The firm had revenue of $279.54 million during the quarter. Blue Owl Technology Finance had a net margin of 28.69% and a return on equity of 7.17%. During the same period last year, the company earned $0.45 earnings per share. On average, sell-side analysts anticipate that Blue Owl Technology Finance will post 1.25 earnings per share for the current fiscal year.

Blue Owl Technology Finance Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a dividend of $0.35 per share. This is a positive change from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. This represents a $1.40 dividend on an annualized basis and a dividend yield of 12.5%. The ex-dividend date is Wednesday, September 30th. Blue Owl Technology Finance’s dividend payout ratio (DPR) is currently 175.00%.

Insiders Place Their Bets

In related news, Director Chris Temple bought 7,000 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was bought at an average cost of $10.71 per share, with a total value of $74,970.00. Following the completion of the purchase, the director owned 12,000 shares of the company’s stock, valued at approximately $128,520. The trade was a 140.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.05% of the company’s stock.

Institutional Trading of Blue Owl Technology Finance

Several hedge funds have recently bought and sold shares of the stock. Clearstead Advisors LLC purchased a new position in shares of Blue Owl Technology Finance during the fourth quarter valued at about $124,000. Kestra Advisory Services LLC purchased a new stake in shares of Blue Owl Technology Finance in the fourth quarter worth about $128,000. Abel Hall LLC purchased a new stake in shares of Blue Owl Technology Finance in the first quarter worth about $124,000. Onyx Bridge Wealth Group LLC bought a new position in Blue Owl Technology Finance during the fourth quarter valued at approximately $150,000. Finally, Wealth Architects LLC bought a new position in Blue Owl Technology Finance during the fourth quarter valued at approximately $167,000.

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.