Shares of Blackstone Secured Lending Fund (NYSE:BXSL – Get Free Report) have earned an average rating of “Hold” from the ten analysts that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $24.8889.
A number of research firms have weighed in on BXSL. Truist Financial decreased their price objective on Blackstone Secured Lending Fund from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th. Oppenheimer assumed coverage on Blackstone Secured Lending Fund in a research report on Thursday, July 23rd. They set a “market perform” rating and a $25.00 target price for the company. 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. Zacks Research upgraded Blackstone Secured Lending Fund from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 5th. Finally, Wall Street Zen upgraded Blackstone Secured Lending Fund from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th.
Get Our Latest Research Report on BXSL
Blackstone Secured Lending Fund Stock Performance
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 for the quarter, beating analysts’ consensus estimates 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. Sell-side analysts forecast that Blackstone Secured Lending Fund will post 2.85 EPS for the current year.
Blackstone Secured Lending Fund Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Investors of record on Wednesday, September 30th will be given a dividend of $0.77 per share. The ex-dividend date is Wednesday, September 30th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 12.6%. Blackstone Secured Lending Fund’s dividend payout ratio (DPR) is 242.52%.
Hedge Funds Weigh In On Blackstone Secured Lending Fund
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Osterweis Capital Management Inc. bought a new stake in Blackstone Secured Lending Fund during the fourth quarter worth about $33,000. Hilton Head Capital Partners LLC acquired a new stake in shares of Blackstone Secured Lending Fund during the fourth quarter worth approximately $34,000. Allied Private Wealth LLC bought a new position in shares of Blackstone Secured Lending Fund in the second quarter valued at approximately $32,000. FNY Investment Advisers LLC bought a new position in shares of Blackstone Secured Lending Fund in the second quarter valued at approximately $33,000. Finally, First Bancorp Inc ME acquired a new position in shares of Blackstone Secured Lending Fund in the 2nd quarter worth approximately $38,000. 36.49% of the stock is currently owned by institutional investors and hedge funds.
Blackstone Secured Lending Fund Company Profile
Blackstone Secured Lending Fund (NYSE:BXSL) is a business development company that provides financing to private, primarily U.S.-based companies. The fund is externally managed by an affiliate of Blackstone, a global investment firm, and operates as part of Blackstone’s private credit platform.
BXSL’s investment strategy focuses mainly on senior secured, floating-rate loans, with an emphasis on first-lien debt. Its portfolio companies are generally middle-market businesses across a range of industries.
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