Blackstone Secured Lending Fund (NYSE:BXSL) Given New $29.00 Price Target at Royal Bank Of Canada

Blackstone Secured Lending Fund (NYSE:BXSL) had its price target decreased by analysts at Royal Bank Of Canada from $32.00 to $29.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 8.25% from the stock’s current price.

A number of other equities analysts have also issued reports on the company. Wells Fargo & Company cut their target price on Blackstone Secured Lending Fund from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Wall Street Zen cut shares of Blackstone Secured Lending Fund from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. UBS Group decreased their price objective on shares of Blackstone Secured Lending Fund from $31.00 to $28.00 and set a “neutral” rating for the company in a report on Tuesday, October 14th. JPMorgan Chase & Co. reduced their price target on shares of Blackstone Secured Lending Fund from $30.50 to $29.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 1st. Finally, Keefe, Bruyette & Woods lowered their price objective on Blackstone Secured Lending Fund from $30.00 to $29.00 and set an “outperform” rating for the company in a report on Tuesday. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Blackstone Secured Lending Fund currently has an average rating of “Moderate Buy” and a consensus price target of $29.78.

Blackstone Secured Lending Fund Price Performance

BXSL stock traded up $0.14 during trading on Wednesday, reaching $26.79. 39,258 shares of the stock traded hands, compared to its average volume of 1,367,266. The firm has a market capitalization of $6.17 billion, a PE ratio of 10.07 and a beta of 0.42. The business’s 50 day moving average price is $26.97 and its 200-day moving average price is $29.58. Blackstone Secured Lending Fund has a 52-week low of $24.85 and a 52-week high of $34.64.

Blackstone Secured Lending Fund (NYSE:BXSL) last announced its quarterly earnings results on Monday, November 10th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.02. The firm had revenue of $358.56 million during the quarter, compared to the consensus estimate of $353.55 million. Blackstone Secured Lending Fund had a return on equity of 11.89% and a net margin of 42.38%. On average, equities research analysts predict that Blackstone Secured Lending Fund will post 3.54 earnings per share for the current year.

Insider Transactions at Blackstone Secured Lending Fund

In other news, insider Robert J. Bass acquired 3,760 shares of the company’s stock in a transaction dated Monday, October 6th. The shares were bought at an average price of $26.63 per share, with a total value of $100,128.80. Following the purchase, the insider owned 21,167 shares of the company’s stock, valued at approximately $563,677.21. This represents a 21.60% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

Large investors have recently modified their holdings of the stock. Wealth Preservation Advisors LLC acquired a new position in shares of Blackstone Secured Lending Fund in the 1st quarter valued at $30,000. Evolution Wealth Management Inc. acquired a new stake in shares of Blackstone Secured Lending Fund during the second quarter valued at approximately $37,000. Northwestern Mutual Wealth Management Co. grew its position in Blackstone Secured Lending Fund by 45.1% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,270 shares of the company’s stock worth $41,000 after purchasing an additional 395 shares in the last quarter. Spire Wealth Management raised its position in Blackstone Secured Lending Fund by 109.6% during the second quarter. Spire Wealth Management now owns 1,467 shares of the company’s stock valued at $45,000 after buying an additional 767 shares during the period. Finally, Westfuller Advisors LLC purchased a new stake in Blackstone Secured Lending Fund in the 3rd quarter worth about $53,000. 36.49% of the stock is owned by institutional investors.

About Blackstone Secured Lending Fund

Blackstone Secured Lending Fund is business development company and a Delaware statutory trust formed on March 26, 2018, and structured as an externally managed, non-diversified closed-end investment Fund. On October 26, 2018, the fund elected to be regulated as a business development company (BDC) under the Investment Company Act of 1940, as amended (the 1940 Act).