Sumitomo Mitsui Trust Group Inc. Acquires 474,100 Shares of Blue Owl Capital Corporation (NYSE:OBDC)

Sumitomo Mitsui Trust Group Inc. raised its position in shares of Blue Owl Capital Corporation (NYSE:OBDC) by 85.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,026,055 shares of the company’s stock after purchasing an additional 474,100 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Blue Owl Capital were worth $15,042,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of OBDC. Anchor Investment Management LLC raised its position in Blue Owl Capital by 100.0% during the 4th quarter. Anchor Investment Management LLC now owns 3,000 shares of the company’s stock valued at $45,000 after purchasing an additional 1,500 shares in the last quarter. Brown Brothers Harriman & Co. bought a new stake in Blue Owl Capital during the 4th quarter valued at $48,000. Lazard Asset Management LLC bought a new stake in Blue Owl Capital during the 4th quarter valued at $49,000. Roxbury Financial LLC bought a new stake in Blue Owl Capital during the 1st quarter valued at $50,000. Finally, Versant Capital Management Inc bought a new stake in Blue Owl Capital during the 1st quarter valued at $63,000. 42.83% of the stock is owned by institutional investors.

Blue Owl Capital Stock Up 0.3%

Shares of OBDC stock opened at $14.54 on Friday. Blue Owl Capital Corporation has a 1-year low of $12.11 and a 1-year high of $15.87. The stock’s fifty day moving average price is $14.41 and its 200 day moving average price is $14.64. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market cap of $7.43 billion, a price-to-earnings ratio of 9.38 and a beta of 0.72.

Blue Owl Capital (NYSE:OBDC) last announced its earnings results on Wednesday, May 7th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.04). Blue Owl Capital had a return on equity of 11.72% and a net margin of 39.42%. The business had revenue of $464.65 million for the quarter, compared to analysts’ expectations of $457.88 million. On average, research analysts expect that Blue Owl Capital Corporation will post 1.71 earnings per share for the current fiscal year.

Blue Owl Capital Cuts Dividend

The company also recently declared a dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.01 per share. The ex-dividend date was Friday, May 30th. This represents a yield of 11.51%. Blue Owl Capital’s payout ratio is presently 95.48%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on OBDC shares. Jefferies Financial Group started coverage on Blue Owl Capital in a report on Friday, April 11th. They issued a “buy” rating and a $16.00 price target on the stock. Keefe, Bruyette & Woods cut their price target on Blue Owl Capital from $15.10 to $14.50 and set a “market perform” rating on the stock in a report on Tuesday, April 8th. B. Riley started coverage on Blue Owl Capital in a report on Tuesday, May 13th. They issued a “buy” rating and a $15.00 price target on the stock. Royal Bank Of Canada reiterated an “outperform” rating and issued a $16.00 price target on shares of Blue Owl Capital in a report on Thursday, May 15th. Finally, Wells Fargo & Company cut their price target on Blue Owl Capital from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Monday, April 28th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $15.64.

Insiders Place Their Bets

In other news, Director Victor Woolridge purchased 6,915 shares of the company’s stock in a transaction on Tuesday, May 27th. The shares were acquired at an average price of $14.45 per share, for a total transaction of $99,921.75. Following the purchase, the director owned 28,191 shares in the company, valued at $407,359.95. This trade represents a 32.50% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.11% of the company’s stock.

Blue Owl Capital Profile

Blue Owl Capital Corporation is a business development company. It specializes in direct and fund of fund investments. The fund makes investments in senior secured, direct lending or unsecured loans, subordinated loans or mezzanine loans and also considers equity-related securities including warrants and preferred stocks also pursues preferred equity investments, first lien, unitranche, and second lien term loans and common equity investments.