Blackstone Secured Lending Fund (NYSE:BXSL – Get Free Report) has been assigned a consensus recommendation of “Hold” from the nine ratings firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $25.9063.
A number of research firms have weighed in on BXSL. Royal Bank Of Canada cut their price objective on shares of Blackstone Secured Lending Fund from $29.00 to $28.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 3rd. B. Riley Financial reduced their target price on shares of Blackstone Secured Lending Fund from $24.50 to $23.50 and set a “neutral” rating for the company in a report on Tuesday. UBS Group cut their price objective on shares of Blackstone Secured Lending Fund from $27.50 to $24.75 and set a “neutral” rating on the stock in a report on Friday, March 13th. Wall Street Zen cut shares of Blackstone Secured Lending Fund from a “hold” rating to a “sell” rating in a research note on Sunday, March 1st. Finally, Wells Fargo & Company dropped their price objective on shares of Blackstone Secured Lending Fund from $24.00 to $22.00 and set an “underweight” rating on the stock in a research note on Friday, May 8th.
View Our Latest Research Report on BXSL
Blackstone Secured Lending Fund Price Performance
Blackstone Secured Lending Fund (NYSE:BXSL – Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.02. The business had revenue of $254.64 million during the quarter, compared to analysts’ expectations of $353.15 million. Blackstone Secured Lending Fund had a net margin of 31.63% and a return on equity of 11.73%. As a group, equities research analysts expect that Blackstone Secured Lending Fund will post 2.83 EPS for the current year.
Blackstone Secured Lending Fund Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.77 per share. The ex-dividend date is Tuesday, June 30th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 12.8%. Blackstone Secured Lending Fund’s dividend payout ratio (DPR) is 161.26%.
Insider Activity
In other Blackstone Secured Lending Fund news, insider Robert J. Bass bought 2,095 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were purchased at an average price of $23.80 per share, for a total transaction of $49,861.00. Following the transaction, the insider directly owned 25,107 shares of the company’s stock, valued at approximately $597,546.60. This represents a 9.10% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.10% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Strs Ohio acquired a new stake in shares of Blackstone Secured Lending Fund during the 1st quarter worth about $94,760,000. Van ECK Associates Corp increased its position in shares of Blackstone Secured Lending Fund by 112.1% during the 4th quarter. Van ECK Associates Corp now owns 5,149,915 shares of the company’s stock worth $135,597,000 after purchasing an additional 2,721,843 shares during the last quarter. UBS Group AG increased its position in shares of Blackstone Secured Lending Fund by 112.5% during the 4th quarter. UBS Group AG now owns 4,731,343 shares of the company’s stock worth $124,576,000 after purchasing an additional 2,504,617 shares during the last quarter. Quantum Portfolio Management LLC acquired a new stake in shares of Blackstone Secured Lending Fund during the 1st quarter worth about $38,000. Finally, Bank of America Corp DE increased its position in shares of Blackstone Secured Lending Fund by 11.9% during the 2nd quarter. Bank of America Corp DE now owns 7,820,346 shares of the company’s stock worth $240,476,000 after purchasing an additional 832,179 shares during the last quarter. Hedge funds and other institutional investors own 36.49% of the company’s stock.
About Blackstone Secured Lending Fund
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.
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