Brokerages Set Blackstone Secured Lending Fund (NYSE:BXSL) Price Target at $29.38

Shares of Blackstone Secured Lending Fund (NYSE:BXSL) have earned an average rating of “Moderate Buy” from the nine research firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $29.1250.

Several research firms have weighed in on BXSL. JPMorgan Chase & Co. dropped their price objective on shares of Blackstone Secured Lending Fund from $30.50 to $29.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 1st. Wall Street Zen upgraded shares of Blackstone Secured Lending Fund from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. B. Riley dropped their price target on shares of Blackstone Secured Lending Fund from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, November 12th. Keefe, Bruyette & Woods reduced their price objective on Blackstone Secured Lending Fund from $30.00 to $29.00 and set an “outperform” rating for the company in a research report on Tuesday, November 11th. Finally, Zacks Research upgraded Blackstone Secured Lending Fund from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FLC Capital Advisors lifted its stake in Blackstone Secured Lending Fund by 2.8% in the second quarter. FLC Capital Advisors now owns 14,715 shares of the company’s stock valued at $452,000 after acquiring an additional 405 shares during the last quarter. Prime Capital Investment Advisors LLC lifted its stake in shares of Blackstone Secured Lending Fund by 5.9% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 7,704 shares of the company’s stock valued at $201,000 after purchasing an additional 430 shares during the last quarter. Comprehensive Money Management Services LLC boosted its holdings in Blackstone Secured Lending Fund by 2.7% in the third quarter. Comprehensive Money Management Services LLC now owns 16,916 shares of the company’s stock worth $441,000 after purchasing an additional 440 shares in the last quarter. Truist Financial Corp boosted its holdings in Blackstone Secured Lending Fund by 1.4% in the second quarter. Truist Financial Corp now owns 32,995 shares of the company’s stock worth $1,015,000 after purchasing an additional 442 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC increased its position in Blackstone Secured Lending Fund by 3.2% during the third quarter. Cassaday & Co Wealth Management LLC now owns 15,079 shares of the company’s stock worth $393,000 after buying an additional 466 shares during the last quarter. Institutional investors own 36.49% of the company’s stock.

Blackstone Secured Lending Fund Trading Down 1.0%

Shares of NYSE BXSL opened at $25.82 on Wednesday. Blackstone Secured Lending Fund has a one year low of $24.85 and a one year high of $34.64. The business has a 50-day moving average price of $27.05 and a two-hundred day moving average price of $28.33. The firm has a market capitalization of $5.97 billion, a PE ratio of 9.70 and a beta of 0.42.

Blackstone Secured Lending Fund (NYSE:BXSL) last issued its earnings results on Monday, November 10th. The company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.02. The company had revenue of $358.56 million for the quarter, compared to the consensus estimate of $353.55 million. Blackstone Secured Lending Fund had a return on equity of 11.85% and a net margin of 42.38%. Research analysts anticipate that Blackstone Secured Lending Fund will post 3.54 EPS for the current year.

Blackstone Secured Lending Fund Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Wednesday, December 31st will be paid a $0.77 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $3.08 annualized dividend and a dividend yield of 11.9%. Blackstone Secured Lending Fund’s payout ratio is presently 115.79%.

Blackstone Secured Lending Fund Company Profile

Blackstone Secured Lending Fund (NYSE: BXSL) is a closed-end management investment company sponsored by Blackstone Credit, the credit-oriented business of Blackstone Inc Launched in May 2020, BXSL seeks to deliver attractive risk-adjusted returns primarily through current income and, to a lesser extent, capital appreciation. The fund raises capital from institutional and retail investors and deploys it into a diversified portfolio of senior secured loans and other credit instruments.

The fund’s principal investment focus is on first-lien senior secured loans and unitranche debt extended to middle-market companies across North America.