Sumitomo Mitsui Trust Group Inc. Grows Stock Holdings in Blue Owl Capital Corporation $OBDC

Sumitomo Mitsui Trust Group Inc. raised its position in Blue Owl Capital Corporation (NYSE:OBDC) by 7.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,903,832 shares of the company’s stock after acquiring an additional 137,858 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.37% of Blue Owl Capital worth $23,665,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Van ECK Associates Corp increased its position in shares of Blue Owl Capital by 6.0% in 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 period. Bank of America Corp DE increased its position in shares of Blue Owl Capital by 6.5% in 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 period. UBS Group AG increased its position in shares of Blue Owl Capital by 12.7% in the third quarter. UBS Group AG now owns 6,065,592 shares of the company’s stock valued at $77,458,000 after acquiring an additional 681,444 shares during the period. Ameriprise Financial Inc. increased its position in shares of Blue Owl Capital by 13.7% in the third quarter. Ameriprise Financial Inc. now owns 5,454,128 shares of the company’s stock valued at $69,005,000 after acquiring an additional 659,025 shares during the period. Finally, Sound Income Strategies LLC increased its position in shares of Blue Owl Capital by 11.4% in the fourth quarter. Sound Income Strategies LLC now owns 3,779,901 shares of the company’s stock valued at $47,665,000 after acquiring an additional 387,347 shares during the period. Hedge funds and other institutional investors own 42.83% of the company’s stock.

Wall Street Analysts Forecast Growth

OBDC has been the topic of several research analyst reports. Zacks Research upgraded shares of Blue Owl Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, February 23rd. Wall Street Zen upgraded shares of Blue Owl Capital from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Truist Financial reduced their price target on shares of Blue Owl Capital from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Keefe, Bruyette & Woods reduced their price target on shares of Blue Owl Capital from $12.50 to $12.00 and set a “market perform” rating on the stock in a research report on Thursday. Finally, Royal Bank Of Canada reduced their price target on shares of Blue Owl Capital from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, February 20th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $13.71.

Blue Owl Capital Stock Down 0.4%

Shares of Blue Owl Capital stock opened at $11.59 on Friday. The company has a market cap of $5.75 billion, a price-to-earnings ratio of 9.34 and a beta of 0.65. The company’s 50 day moving average is $11.32 and its 200 day moving average is $12.16. Blue Owl Capital Corporation has a twelve month low of $10.52 and a twelve month high of $15.19. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.26.

Blue Owl Capital (NYSE:OBDC) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The company had revenue of $439.50 million for the quarter, compared to the consensus estimate of $454.38 million. Blue Owl Capital had a net margin of 33.89% and a return on equity of 10.07%. Research analysts anticipate that Blue Owl Capital Corporation will post 1.71 EPS for the current year.

Blue Owl Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were given a dividend of $0.37 per share. The ex-dividend date was Tuesday, March 31st. This represents a $1.48 dividend on an annualized basis and a yield of 12.8%. Blue Owl Capital’s dividend payout ratio is 119.35%.

Blue Owl Capital declared that its Board of Directors has authorized a share buyback plan on Wednesday, February 18th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 5.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

Blue Owl Capital 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.