Blue Owl Capital Q1 NAV drops as credit spread widens

Blue Owl Capital

06/05/2026 21:26

Overview

US specialty finance lender's Q1 adjusted net investment income per share fell from prior quarter

Net asset value per share declined to $14.41, mainly due to credit spread widening

Company authorized $300 mln stock buyback, repurchased $35 mln in Q1

Outlook

Company declares Q2 2026 base dividend of $0.31 per share, down from $0.37

Blue Owl Capital says it has flexibility to deploy capital amid attractive market opportunities

Company expects investment income to vary based on pace of originations and repayments

Result Drivers

LOWER BASE RATES AND TIGHTER SPREADS - Co said investment income declined due to lower base rates on floating-rate assets and tighter spreads

PORTFOLIO SIZE REDUCTION - Co attributed lower investment income to a smaller portfolio following net repayments of about $1 bln

EXPENSE DECLINE - Total expenses fell due to lower interest expense and reduced performance-based incentive fees

Company press release: ID:nPn6MSfr8a

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Net Asset Value Per Share
$14.41


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the investment management & fund operators peer group is "buy"

Wall Street's median 12-month price target for Blue Owl Capital Corp is $13.50, about 13.4% above its May 5 closing price of $11.91

The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 9 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)