Blackstone Secured Lending Fund (NYSE:BXSL – Get Free Report) had its target price cut by analysts at B. Riley Financial from $23.50 to $22.50 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. B. Riley Financial‘s price target would indicate a potential downside of 6.97% from the company’s current price.
A number of other equities analysts have also commented on the company. UBS Group lowered their price objective on Blackstone Secured Lending Fund from $25.50 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, November 5th. Citizens Jmp started coverage on Blackstone Secured Lending Fund in a report on Monday, October 26th. They set a “market perform” rating on the stock. Oppenheimer assumed coverage on Blackstone Secured Lending Fund in a research report on Thursday, July 23rd. They issued a “market perform” rating and a $25.00 price target on the stock. Zacks Research raised Blackstone Secured Lending Fund from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 5th. Finally, Wall Street Zen raised shares of Blackstone Secured Lending Fund from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Four investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $24.72.
Read Our Latest Analysis on Blackstone Secured Lending Fund
Blackstone Secured Lending Fund Stock Up 1.0%
Shares of BXSL stock traded up $0.24 during trading on Tuesday, reaching $24.18. The company’s stock had a trading volume of 732,043 shares, compared to its average volume of 2,027,453. Blackstone Secured Lending Fund has a one year low of $22.47 and a one year high of $28.59. The business has a fifty day moving average price of $24.10 and a 200-day moving average price of $24.09. The company has a market cap of $5.63 billion, a price-to-earnings ratio of 20.15 and a beta of 0.39.
Blackstone Secured Lending Fund (NYSE:BXSL – Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.02. The firm had revenue of $315.18 million during the quarter, compared to the consensus estimate of $317.81 million. Blackstone Secured Lending Fund had a return on equity of 11.44% and a net margin of 21.03%. Research analysts anticipate that Blackstone Secured Lending Fund will post 2.87 EPS for the current year.
Institutional Investors Weigh In On Blackstone Secured Lending Fund
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Allied Private Wealth LLC bought a new position in Blackstone Secured Lending Fund during the second quarter worth $32,000. FNY Investment Advisers LLC bought a new stake in Blackstone Secured Lending Fund in the second quarter worth approximately $33,000. Latitude Advisors LLC acquired a new position in Blackstone Secured Lending Fund in the third quarter valued at approximately $37,000. First Bancorp Inc ME bought a new position in shares of Blackstone Secured Lending Fund during the 2nd quarter worth approximately $38,000. Finally, Western Wealth Management LLC acquired a new stake in shares of Blackstone Secured Lending Fund during the 1st quarter worth approximately $58,000. 36.49% of the stock is owned by institutional investors.
Blackstone Secured Lending Fund Company Profile
Blackstone Secured Lending Fund is a business development company (BDC) that provides financing to private businesses. Its investment portfolio focuses primarily on senior secured, floating-rate loans, particularly first-lien debt, to established middle-market companies. The fund may also invest in second-lien loans, unsecured debt and equity securities. Its investments span a range of industries, and its lending activity is focused mainly on companies in the United States. Formed in 2018, Blackstone Secured Lending Fund is externally managed by Blackstone Credit & Insurance, part of Blackstone.
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