Blackstone Secured Lending Fund (NYSE:BXSL) Receives $30.92 Consensus Price Target from Analysts

Blackstone Secured Lending Fund (NYSE:BXSL) has been assigned an average rating of “Moderate Buy” from the seven brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $30.92.

Separately, JPMorgan Chase & Co. decreased their price objective on shares of Blackstone Secured Lending Fund from $32.00 to $31.50 and set an “overweight” rating on the stock in a report on Monday, July 29th.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

A number of hedge funds have recently added to or reduced their stakes in BXSL. Citigroup Inc. lifted its holdings in Blackstone Secured Lending Fund by 1,159.1% during the 3rd quarter. Citigroup Inc. now owns 1,385 shares of the company’s stock worth $38,000 after buying an additional 1,275 shares in the last quarter. Mutual Advisors LLC acquired a new stake in Blackstone Secured Lending Fund during the 4th quarter worth approximately $239,000. Raymond James & Associates lifted its holdings in Blackstone Secured Lending Fund by 10.0% during the 4th quarter. Raymond James & Associates now owns 331,900 shares of the company’s stock worth $9,174,000 after buying an additional 30,163 shares in the last quarter. Pallas Capital Advisors LLC lifted its holdings in Blackstone Secured Lending Fund by 3.4% during the 4th quarter. Pallas Capital Advisors LLC now owns 136,091 shares of the company’s stock worth $3,762,000 after buying an additional 4,474 shares in the last quarter. Finally, Private Trust Co. NA lifted its holdings in Blackstone Secured Lending Fund by 2,535.6% during the 4th quarter. Private Trust Co. NA now owns 2,662 shares of the company’s stock worth $74,000 after buying an additional 2,561 shares in the last quarter. 36.49% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Secured Lending Fund Price Performance

Blackstone Secured Lending Fund stock opened at $29.46 on Monday. The firm has a 50 day simple moving average of $30.99 and a 200-day simple moving average of $30.53. Blackstone Secured Lending Fund has a 1-year low of $25.83 and a 1-year high of $32.67. The stock has a market cap of $5.85 billion, a price-to-earnings ratio of 7.86 and a beta of 0.44.

Blackstone Secured Lending Fund (NYSE:BXSL) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.87 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.05). Blackstone Secured Lending Fund had a return on equity of 14.06% and a net margin of 55.54%. The company had revenue of $303.96 million during the quarter, compared to analyst estimates of $305.08 million. Equities analysts expect that Blackstone Secured Lending Fund will post 3.55 earnings per share for the current fiscal year.

Blackstone Secured Lending Fund Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Sunday, June 30th were issued a dividend of $0.77 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $3.08 dividend on an annualized basis and a yield of 10.45%. Blackstone Secured Lending Fund’s dividend payout ratio (DPR) is presently 82.13%.

About Blackstone Secured Lending Fund

Blackstone Secured Lending Fund is business development company and a Delaware statutory trust formed on March 26, 2018, and structured as an externally managed, non-diversified closed-end investment Fund. On October 26, 2018, the fund elected to be regulated as a business development company (BDC) under the Investment Company Act of 1940, as amended (the 1940 Act).