Piper Sandler Reiterates Overweight Rating for Blue Owl Capital (NYSE:OWL)

Piper Sandler reissued their overweight rating on shares of Blue Owl Capital (NYSE:OWL) in a report released on Friday morning, Benzinga reports. The firm currently has a $23.00 target price on the stock.

OWL has been the topic of several other research reports. Keefe, Bruyette & Woods reiterated a market perform rating and issued a $19.00 price target on shares of Blue Owl Capital in a report on Thursday, April 4th. JPMorgan Chase & Co. reiterated a neutral rating and issued a $18.50 price target on shares of Blue Owl Capital in a report on Thursday, June 13th. TD Cowen cut their price target on shares of Blue Owl Capital from $23.00 to $21.50 and set a buy rating on the stock in a report on Friday, May 3rd. Evercore ISI increased their price target on shares of Blue Owl Capital from $18.00 to $22.00 and gave the stock an outperform rating in a report on Thursday, April 4th. Finally, JMP Securities reiterated a market outperform rating and issued a $24.00 price target on shares of Blue Owl Capital in a report on Tuesday, April 9th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $20.27.

Blue Owl Capital Stock Down 0.8 %

OWL opened at $17.75 on Friday. Blue Owl Capital has a 52-week low of $10.64 and a 52-week high of $19.87. The company has a market cap of $25.36 billion, a P/E ratio of 147.92, a price-to-earnings-growth ratio of 1.09 and a beta of 1.20. The firm’s 50-day moving average price is $18.22 and its 200-day moving average price is $17.26.

Blue Owl Capital (NYSE:OWL) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.01. Blue Owl Capital had a net margin of 3.84% and a return on equity of 18.15%. The firm had revenue of $486.55 million for the quarter, compared to the consensus estimate of $478.47 million. On average, research analysts anticipate that Blue Owl Capital will post 0.82 EPS for the current fiscal year.

Blue Owl Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Tuesday, May 21st were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 4.06%. The ex-dividend date was Monday, May 20th. This is a positive change from Blue Owl Capital’s previous quarterly dividend of $0.14. Blue Owl Capital’s dividend payout ratio is currently 600.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in OWL. Janney Montgomery Scott LLC purchased a new position in shares of Blue Owl Capital during the 3rd quarter valued at approximately $144,000. Invesco Ltd. lifted its position in shares of Blue Owl Capital by 30.8% during the 3rd quarter. Invesco Ltd. now owns 994,968 shares of the company’s stock valued at $12,895,000 after buying an additional 234,332 shares in the last quarter. Northern Trust Corp lifted its position in shares of Blue Owl Capital by 8.9% during the 3rd quarter. Northern Trust Corp now owns 1,744,907 shares of the company’s stock valued at $22,614,000 after buying an additional 141,943 shares in the last quarter. Treasurer of the State of North Carolina lifted its position in shares of Blue Owl Capital by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 196,246 shares of the company’s stock valued at $2,543,000 after buying an additional 990 shares in the last quarter. Finally, Advent International L.P. purchased a new position in shares of Blue Owl Capital during the 3rd quarter valued at approximately $30,780,000. Hedge funds and other institutional investors own 35.85% of the company’s stock.

About Blue Owl Capital

Blue Owl Capital Inc operates as an asset manager in the United States. The company offers permanent capital base solutions that enables it to offer holistic framework of capital solutions to middle market companies, large alternative asset managers, and corporate real estate owners and tenants. It also provides direct lending products that offer private credit products comprising diversified, technology, first lien, and opportunistic lending to middle-market companies; liquid credit; GP strategic capital products, which offers capital solutions, including GP minority stakes, GP debt financing, and professional sports minority stakes; and real estate products that focuses on acquiring triple net lease real estate by investment grade or creditworthy tenants.