Blue Owl Technology Finance Corp. (NYSE:OTF) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Blue Owl Technology Finance Corp. (NYSE:OTF) has been assigned a consensus rating of “Moderate Buy” from the seven research firms that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $13.60.

A number of equities analysts have commented on OTF shares. Citizens Jmp boosted their price target on shares of Blue Owl Technology Finance from $16.00 to $17.00 and gave the stock a “market outperform” rating in a research note on Friday, August 7th. Zacks Research raised shares of Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 10th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $12.00 price objective on shares of Blue Owl Technology Finance in a report on Monday, August 17th. Finally, Citigroup reiterated an “outperform” rating on shares of Blue Owl Technology Finance in a research report on Friday, August 7th.

Hedge Funds Weigh In On Blue Owl Technology Finance

Institutional investors have recently modified their holdings of the company. California State Teachers Retirement System purchased a new stake in Blue Owl Technology Finance in the first quarter worth approximately $250,556,000. Laura & John Arnold Foundation bought a new position in Blue Owl Technology Finance during the second quarter valued at approximately $12,420,000. Bank of America Corp DE raised its stake in shares of Blue Owl Technology Finance by 54.5% during the first quarter. Bank of America Corp DE now owns 1,098,349 shares of the company’s stock worth $13,609,000 after acquiring an additional 387,404 shares in the last quarter. Orange County Employees Retirement System purchased a new position in shares of Blue Owl Technology Finance during the fourth quarter worth approximately $116,497,000. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of Blue Owl Technology Finance by 34.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 624,044 shares of the company’s stock worth $9,074,000 after acquiring an additional 159,060 shares during the last quarter.

Blue Owl Technology Finance Trading Up 0.4%

Shares of NYSE OTF opened at $10.31 on Friday. The business has a 50-day moving average of $10.83 and a 200-day moving average of $11.07. The firm has a market capitalization of $4.73 billion, a price-to-earnings ratio of 12.89 and a beta of -0.73. Blue Owl Technology Finance has a 12 month low of $9.75 and a 12 month high of $15.00.

Blue Owl Technology Finance (NYSE:OTF) last announced its earnings results on Wednesday, August 5th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates 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 $338.03 million for the quarter. During the same period in the prior year, the business earned $0.45 earnings per share. On average, 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 company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 13.6%. This is an increase from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Wednesday, September 30th. Blue Owl Technology Finance’s dividend payout ratio is presently 175.00%.

About Blue Owl Technology Finance

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.