Blackstone Secured Lending Fund (NYSE:BXSL – Get Free Report) has been given a consensus recommendation of “Hold” by the ten ratings firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $24.7778.
A number of research firms have commented on BXSL. JPMorgan Chase & Co. cut their price target on shares of Blackstone Secured Lending Fund from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Thursday, July 2nd. Royal Bank Of Canada decreased their price target on Blackstone Secured Lending Fund from $28.00 to $26.00 and set an “outperform” rating on the stock in a research note on Monday, May 18th. Keefe, Bruyette & Woods downgraded shares of Blackstone Secured Lending Fund from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $25.00 to $24.00 in a research note on Monday, June 8th. Zacks Research upgraded Blackstone Secured Lending Fund from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 5th. Finally, B. Riley Financial lowered their price objective 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, May 12th.
Check Out Our Latest Stock Report on Blackstone Secured Lending Fund
Institutional Inflows and Outflows
Blackstone Secured Lending Fund Trading Up 1.0%
Shares of NYSE:BXSL opened at $24.59 on Thursday. The company has a 50 day moving average of $23.74 and a 200 day moving average of $23.95. The stock has a market cap of $5.73 billion, a P/E ratio of 19.37 and a beta of 0.38. Blackstone Secured Lending Fund has a 12 month low of $22.47 and a 12 month high of $30.20.
Blackstone Secured Lending Fund (NYSE:BXSL – Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.09. Blackstone Secured Lending Fund had a net margin of 21.51% and a return on equity of 11.86%. The business had revenue of $233.30 million for the quarter, compared to analysts’ expectations of $326.72 million. On average, equities analysts forecast that Blackstone Secured Lending Fund will post 2.83 earnings per share for the current fiscal year.
Blackstone Secured Lending Fund Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Wednesday, September 30th will be given a $0.77 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 12.5%. Blackstone Secured Lending Fund’s dividend payout ratio is currently 242.52%.
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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