Requisite Capital Management LLC Grows Stock Position in Blue Owl Technology Finance Corp. $OTF

Requisite Capital Management LLC lifted its position in Blue Owl Technology Finance Corp. (NYSE:OTF) by 50.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 1,885,709 shares of the company’s stock after acquiring an additional 635,531 shares during the period. Blue Owl Technology Finance makes up 3.4% of Requisite Capital Management LLC’s investment portfolio, making the stock its 7th largest position. Requisite Capital Management LLC’s holdings in Blue Owl Technology Finance were worth $20,267,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. California State Teachers Retirement System bought a new stake in shares of Blue Owl Technology Finance in the 1st quarter valued at approximately $250,556,000. Orange County Employees Retirement System bought a new position in Blue Owl Technology Finance during the fourth quarter worth $116,497,000. Capricorn Investment Group LLC acquired a new position in Blue Owl Technology Finance in the fourth quarter worth $78,915,000. Franklin Resources Inc. boosted its holdings in Blue Owl Technology Finance by 155,006.8% in the fourth quarter. Franklin Resources Inc. now owns 1,754,258 shares of the company’s stock worth $25,507,000 after purchasing an additional 1,753,127 shares during the period. Finally, Rivernorth Capital Management LLC increased its stake in Blue Owl Technology Finance by 374.2% during the fourth quarter. Rivernorth Capital Management LLC now owns 1,934,726 shares of the company’s stock valued at $28,131,000 after purchasing an additional 1,526,695 shares during the last quarter.

Wall Street Analyst Weigh In

OTF has been the topic of a number of recent research reports. Zacks Research upgraded shares of Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 10th. Citigroup reaffirmed an “outperform” rating on shares of Blue Owl Technology Finance in a research report on Friday, August 7th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $12.00 price objective on shares of Blue Owl Technology Finance in a research note on Monday, August 17th. Citizens Jmp raised 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. Finally, Wells Fargo & Company decreased their target price on Blue Owl Technology Finance from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Blue Owl Technology Finance presently has an average rating of “Moderate Buy” and a consensus price target of $13.60.

Blue Owl Technology Finance Stock Performance

OTF stock opened at $11.61 on Wednesday. The stock has a market capitalization of $5.32 billion, a price-to-earnings ratio of 14.51 and a beta of -0.74. Blue Owl Technology Finance Corp. has a 1 year low of $9.75 and a 1 year high of $15.82. The stock’s fifty day moving average is $10.66 and its two-hundred day moving average is $11.21.

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

Blue Owl Technology Finance Increases Dividend

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