Blackstone Secured Lending Fund (NYSE:BXSL) Given Average Rating of “Hold” by Brokerages

Shares of Blackstone Secured Lending Fund (NYSE:BXSLGet Free Report) have received an average rating of “Hold” from the ten analysts that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $24.7778.

A number of analysts have recently commented on BXSL shares. Truist Financial cut their price objective on shares of Blackstone Secured Lending Fund from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. Royal Bank Of Canada decreased their target price on shares of Blackstone Secured Lending Fund from $28.00 to $26.00 and set an “outperform” rating for the company in a research report on Monday, May 18th. Oppenheimer initiated coverage on shares of Blackstone Secured Lending Fund in a research report on Thursday. They set a “market perform” rating and a $25.00 price target on the stock. Wells Fargo & Company reduced their price objective on shares of Blackstone Secured Lending Fund from $24.00 to $22.00 and set an “underweight” rating for the company in a research note on Friday, May 8th. Finally, UBS Group lowered their target price on Blackstone Secured Lending Fund from $24.75 to $24.50 and set a “neutral” rating on the stock in a research report on Monday, May 18th.

Get Our Latest Analysis on Blackstone Secured Lending Fund

Blackstone Secured Lending Fund Stock Up 0.4%

BXSL opened at $23.22 on Friday. The stock has a market cap of $5.40 billion, a P/E ratio of 12.16 and a beta of 0.37. Blackstone Secured Lending Fund has a 12 month low of $22.47 and a 12 month high of $32.67. The company has a fifty day simple moving average of $23.62 and a 200 day simple moving average of $24.26.

Blackstone Secured Lending Fund (NYSE:BXSLGet Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. Blackstone Secured Lending Fund had a return on equity of 11.73% and a net margin of 31.63%.The business had revenue of $254.64 million during the quarter, compared to analysts’ expectations of $353.15 million. On average, equities research analysts expect that Blackstone Secured Lending Fund will post 2.75 earnings per share for the current fiscal year.

Blackstone Secured Lending Fund Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Tuesday, June 30th were paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 13.3%. The ex-dividend date was Tuesday, June 30th. Blackstone Secured Lending Fund’s dividend payout ratio (DPR) is currently 161.26%.

Insider Buying and Selling at Blackstone Secured Lending Fund

In related news, insider Robert J. Bass acquired 2,095 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were bought at an average price of $23.80 per share, for a total transaction of $49,861.00. Following the purchase, the insider directly owned 25,107 shares in the company, valued at approximately $597,546.60. This trade represents a 9.10% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is owned by company insiders.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

A number of institutional investors have recently added to or reduced their stakes in BXSL. Bank of America Corp DE raised its position in Blackstone Secured Lending Fund by 11.9% during the second quarter. Bank of America Corp DE now owns 7,820,346 shares of the company’s stock worth $240,476,000 after acquiring an additional 832,179 shares in the last quarter. Van ECK Associates Corp increased its stake 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 stake 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. Strs Ohio bought a new stake in shares of Blackstone Secured Lending Fund in the 1st quarter valued at about $94,760,000. Finally, Northeast Financial Consultants Inc lifted its stake in Blackstone Secured Lending Fund by 6.9% in the 2nd quarter. Northeast Financial Consultants Inc now owns 3,359,523 shares of the company’s stock valued at $103,305,000 after purchasing an additional 216,835 shares during the last quarter. 36.49% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Secured Lending Fund Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Blackstone Secured Lending Fund (NYSE:BXSL)

Receive News & Ratings for Blackstone Secured Lending Fund Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackstone Secured Lending Fund and related companies with MarketBeat.com's FREE daily email newsletter.