California State Teachers Retirement System Invests $250.56 Million in Blue Owl Technology Finance Corp. $OTF

Key Points

• California State Teachers Retirement System acquired 20.22 million shares of Blue Owl Technology Finance, valued at approximately $250.56 million, giving it a 4.37% stake.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $13.40, although several firms recently lowered their targets to $12.00. The stock opened at $10.06 and remains near its 12-month low.
• Blue Owl reported quarterly EPS of $0.29, below the $0.31 consensus estimate, while declaring a $0.35 quarterly dividend—equivalent to a 13.9% yield and a 155.56% payout ratio.

California State Teachers Retirement System bought a new stake in Blue Owl Technology Finance Corp. (NYSE:OTF - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 20,222,455 shares of the company's stock, valued at approximately $250,556,000. California State Teachers Retirement System owned approximately 4.37% of Blue Owl Technology Finance as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. NewEdge Wealth LLC raised its stake in Blue Owl Technology Finance by 3.3% in the fourth quarter. NewEdge Wealth LLC now owns 69,925 shares of the company's stock valued at $1,017,000 after buying an additional 2,218 shares in the last quarter. Lido Advisors LLC boosted its position in shares of Blue Owl Technology Finance by 22.6% during the 4th quarter. Lido Advisors LLC now owns 14,545 shares of the company's stock worth $208,000 after acquiring an additional 2,683 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new position in shares of Blue Owl Technology Finance in the 4th quarter valued at about $44,000. Kestra Advisory Services LLC raised its position in shares of Blue Owl Technology Finance by 39.1% during the 1st quarter. Kestra Advisory Services LLC now owns 12,241 shares of the company's stock worth $152,000 after acquiring an additional 3,443 shares in the last quarter. Finally, Blair William & Co. IL raised its position in shares of Blue Owl Technology Finance by 41.4% during the 4th quarter. Blair William & Co. IL now owns 14,807 shares of the company's stock worth $215,000 after acquiring an additional 4,334 shares in the last quarter.

Insider Activity

In other news, Director Melissa Weiler purchased 10,000 shares of the business's stock in a transaction that occurred on Wednesday, May 13th. The stock was purchased at an average cost of $10.90 per share, with a total value of $109,000.00. Following the completion of the acquisition, the director directly owned 10,000 shares of the company's stock, valued at approximately $109,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Chris Temple acquired 7,000 shares of Blue Owl Technology Finance stock in a transaction that occurred on Friday, May 22nd. The stock was purchased at an average price of $10.71 per share, with a total value of $74,970.00. Following the transaction, the director owned 12,000 shares of the company's stock, valued at $128,520. This trade represents a 140.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 18,000 shares of company stock valued at $194,710 over the last three months. 0.05% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

OTF has been the subject of several recent analyst reports. Wells Fargo & Company reduced their price objective on shares of Blue Owl Technology Finance from $13.00 to $12.00 and set an "overweight" rating for the company in a research report on Friday, May 8th. Keefe, Bruyette & Woods reduced 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. Royal Bank Of Canada decreased their price objective on Blue Owl Technology Finance from $14.00 to $12.00 and set a "sector perform" rating for the company in a report on Monday, May 18th. Citizens Jmp reduced their price target on shares of Blue Owl Technology Finance from $17.00 to $16.00 and set a "market outperform" rating for the company in a research report on Wednesday, April 22nd. Finally, Zacks Research upgraded shares of Blue Owl Technology Finance from a "strong sell" rating to a "hold" rating in a research note on Wednesday, June 10th. Three 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, the company has a consensus rating of "Moderate Buy" and a consensus target price of $13.40.

Blue Owl Technology Finance Price Performance

Blue Owl Technology Finance stock opened at $10.06 on Wednesday. The business has a 50 day simple moving average of $10.59 and a 200-day simple moving average of $11.63. Blue Owl Technology Finance Corp. has a 12 month low of $9.78 and a 12 month high of $15.82. The stock has a market capitalization of $4.66 billion and a PE ratio of 11.18.

Blue Owl Technology Finance (NYSE:OTF - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.02). The firm had revenue of $222.12 million during the quarter. Blue Owl Technology Finance had a net margin of 32.78% and a return on equity of 7.43%. During the same quarter in the prior year, the company earned $0.41 earnings per share. As a group, equities research analysts anticipate that Blue Owl Technology Finance Corp. will post 1.26 EPS for the current year.

Blue Owl Technology Finance Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 13.9%. This is a positive change from Blue Owl Technology Finance's previous quarterly dividend of $0.05. The ex-dividend date was Tuesday, June 30th. Blue Owl Technology Finance's dividend payout ratio (DPR) is presently 155.56%.

Blue Owl Technology Finance Profile

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.

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