Blackstone Secured Lending Fund (NYSE:BXSL) Given New $35.00 Price Target at Truist Financial

Blackstone Secured Lending Fund (NYSE:BXSL) had its price target upped by Truist Financial from $33.00 to $35.00 in a research note published on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts have also issued reports on the company. Wells Fargo & Company boosted their price target on Blackstone Secured Lending Fund from $29.00 to $31.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods boosted their target price on shares of Blackstone Secured Lending Fund from $30.50 to $32.00 and gave the company a “market perform” rating in a research report on Thursday. JPMorgan Chase & Co. raised their price target on shares of Blackstone Secured Lending Fund from $33.00 to $33.50 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Compass Point dropped their price objective on shares of Blackstone Secured Lending Fund from $33.50 to $32.25 and set a “buy” rating on the stock in a report on Friday, November 15th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Blackstone Secured Lending Fund currently has an average rating of “Moderate Buy” and an average price target of $32.54.

Blackstone Secured Lending Fund Stock Up 1.3 %

Shares of NYSE BXSL opened at $33.16 on Thursday. The company has a market capitalization of $7.42 billion, a PE ratio of 9.21 and a beta of 0.43. Blackstone Secured Lending Fund has a twelve month low of $27.76 and a twelve month high of $34.64. The firm has a fifty day simple moving average of $32.95 and a 200 day simple moving average of $31.47.

Blackstone Secured Lending Fund (NYSE:BXSL) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.02). Blackstone Secured Lending Fund had a return on equity of 13.15% and a net margin of 53.91%. The business had revenue of $353.00 million during the quarter, compared to the consensus estimate of $346.52 million. As a group, equities analysts expect that Blackstone Secured Lending Fund will post 3.54 earnings per share for the current fiscal year.

Blackstone Secured Lending Fund Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 31st will be given a $0.77 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.08 annualized dividend and a yield of 9.29%. Blackstone Secured Lending Fund’s payout ratio is 85.56%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Blue Trust Inc. raised its position in Blackstone Secured Lending Fund by 1,466.7% in the 3rd quarter. Blue Trust Inc. now owns 1,175 shares of the company’s stock valued at $36,000 after buying an additional 1,100 shares during the last quarter. Signaturefd LLC purchased a new stake in shares of Blackstone Secured Lending Fund in the third quarter valued at about $29,000. Private Advisor Group LLC lifted its position in shares of Blackstone Secured Lending Fund by 2.5% during the 3rd quarter. Private Advisor Group LLC now owns 42,711 shares of the company’s stock worth $1,251,000 after buying an additional 1,050 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Blackstone Secured Lending Fund by 2.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,093 shares of the company’s stock worth $637,000 after purchasing an additional 541 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Blackstone Secured Lending Fund by 3.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 15,160 shares of the company’s stock valued at $444,000 after buying an additional 547 shares during the period. Institutional investors own 36.49% of the company’s stock.

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).