Tectonic Advisors LLC Acquires 119,798 Shares of Blue Owl Capital Corporation $OBDC

Key Points

• Tectonic Advisors increased its stake in Blue Owl by 13.0%, acquiring 119,798 shares in Q4 to hold 1,043,827 shares (about 0.20% of the company) valued at $12.975 million per its SEC filing.
• Blue Owl declared a quarterly dividend of $0.37/share (annualized $1.48) implying a 13.6% yield with a payout ratio of 119.35%, and its board authorized a $300 million buyback (up to 5.1% of shares outstanding).
• The stock has a consensus rating of "Moderate Buy" with an average target of $13.79 versus an open price of $10.90, and the company has a $5.41 billion market cap and a trailing P/E of 8.79.

Tectonic Advisors LLC grew its holdings in shares of Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 13.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,043,827 shares of the company's stock after acquiring an additional 119,798 shares during the period. Tectonic Advisors LLC owned about 0.20% of Blue Owl Capital worth $12,975,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of OBDC. Balyasny Asset Management L.P. bought a new position in shares of Blue Owl Capital during the third quarter valued at $25,266,000. Marshall Wace LLP bought a new position in shares of Blue Owl Capital during the third quarter valued at $17,818,000. Caz Investments LP bought a new position in shares of Blue Owl Capital during the third quarter valued at $14,357,000. Bank of America Corp DE raised its stake in shares of Blue Owl Capital by 6.5% during the third quarter. Bank of America Corp DE now owns 13,275,411 shares of the company's stock valued at $169,527,000 after acquiring an additional 811,973 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of Blue Owl Capital by 6.0% during the third quarter. Van ECK Associates Corp now owns 13,364,378 shares of the company's stock valued at $170,663,000 after acquiring an additional 757,203 shares during the last quarter. Institutional investors own 42.83% of the company's stock.

Wall Street Analyst Weigh In

OBDC has been the subject of several analyst reports. Royal Bank Of Canada dropped their price target on shares of Blue Owl Capital from $14.00 to $13.00 and set an "outperform" rating for the company in a research note on Friday, February 20th. Zacks Research raised shares of Blue Owl Capital from a "strong sell" rating to a "hold" rating in a research note on Monday, February 23rd. Wall Street Zen raised shares of Blue Owl Capital from a "sell" rating to a "hold" rating in a research note on Saturday, March 21st. Truist Financial lowered their target price on shares of Blue Owl Capital from $16.00 to $15.00 and set a "buy" rating for the company in a research note on Monday, February 23rd. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Blue Owl Capital from $13.50 to $12.50 and set a "market perform" rating for the company in a research note on Monday, February 23rd. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $13.79.

Blue Owl Capital Price Performance

OBDC stock opened at $10.90 on Monday. The stock has a market capitalization of $5.41 billion, a PE ratio of 8.79 and a beta of 0.65. The company's 50-day moving average is $11.31 and its 200-day moving average is $12.20. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.17 and a quick ratio of 1.17. Blue Owl Capital Corporation has a 1 year low of $10.52 and a 1 year high of $15.19.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last released its quarterly earnings data on Wednesday, February 18th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.01. The company had revenue of $439.50 million for the quarter, compared to analysts' expectations of $454.38 million. Blue Owl Capital had a net margin of 33.89% and a return on equity of 10.07%. Equities research analysts expect that Blue Owl Capital Corporation will post 1.71 EPS for the current fiscal year.

Blue Owl Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 13.6%. The ex-dividend date of this dividend is Tuesday, March 31st. Blue Owl Capital's dividend payout ratio is 119.35%.

Blue Owl Capital declared that its board has initiated a share buyback program on Wednesday, February 18th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 5.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Blue Owl Capital Company Profile

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.

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