Royal Bank of Canada Trims Stock Holdings in Blue Owl Capital Corporation $OBDC

Royal Bank of Canada decreased its stake in Blue Owl Capital Corporation (NYSE:OBDC) by 11.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,934,384 shares of the company’s stock after selling 735,903 shares during the quarter. Royal Bank of Canada’s holdings in Blue Owl Capital were worth $65,634,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. IFP Advisors Inc grew its stake in shares of Blue Owl Capital by 79.6% during the 3rd quarter. IFP Advisors Inc now owns 2,096 shares of the company’s stock valued at $27,000 after acquiring an additional 929 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in Blue Owl Capital by 166.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,115 shares of the company’s stock worth $27,000 after acquiring an additional 1,320 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in Blue Owl Capital during the third quarter valued at approximately $30,000. AG Campbell Advisory LLC purchased a new position in Blue Owl Capital during the fourth quarter valued at approximately $36,000. Finally, FNY Investment Advisers LLC bought a new position in shares of Blue Owl Capital in the fourth quarter worth approximately $44,000. Institutional investors own 42.83% of the company’s stock.

Blue Owl Capital Stock Down 0.2%

NYSE OBDC opened at $10.77 on Friday. Blue Owl Capital Corporation has a 12 month low of $10.52 and a 12 month high of $14.53. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.18. The stock has a market cap of $5.34 billion, a PE ratio of 15.38 and a beta of 0.62. The stock’s 50 day moving average is $10.97 and its 200 day moving average is $11.32.

Blue Owl Capital (NYSE:OBDC) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.04). The company had revenue of $391.00 million for the quarter, compared to analysts’ expectations of $422.02 million. Blue Owl Capital had a net margin of 20.21% and a return on equity of 9.76%. Research analysts predict that Blue Owl Capital Corporation will post 1.27 EPS for the current fiscal year.

Blue Owl Capital Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.31 per share. The ex-dividend date was Tuesday, June 30th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 11.5%. Blue Owl Capital’s dividend payout ratio is currently 177.14%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on OBDC shares. Wall Street Zen raised shares of Blue Owl Capital from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Keefe, Bruyette & Woods lowered their target price on shares of Blue Owl Capital from $12.50 to $12.00 and set a “market perform” rating on the stock in a research note on Thursday, April 16th. Truist Financial dropped their target price on shares of Blue Owl Capital from $15.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Capital One Financial set a $13.00 price target on Blue Owl Capital in a research note on Friday, July 24th. Finally, Lucid Cap Mkts raised Blue Owl Capital to a “strong-buy” rating in a report on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Blue Owl Capital currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.00.

About Blue Owl Capital

Blue Owl Capital Corporation (NYSE: OBDC) is a publicly traded business development company sponsored by Blue Owl Capital, a global alternative asset manager. Launched in 2020, the firm provides customized financing solutions to middle-market companies across various industries. As an externally managed BDC, Blue Owl Capital Corporation leverages the deep credit?investment capabilities of its sponsor to deliver flexible capital tailored to the needs of growing businesses.

The company’s investment activities span a range of private credit products, including first?lien senior secured loans, unitranche facilities, second?lien financings, mezzanine debt, and minority equity co-investments.