Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Blackstone Secured Lending Fund (NYSE:BXSL) Stock

Blackstone Secured Lending Fund (NYSE:BXSL) had its target price lifted by investment analysts at Keefe, Bruyette & Woods from $30.50 to $32.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target suggests a potential downside of 5.11% from the stock’s previous close.

Several other analysts also recently issued reports on BXSL. JPMorgan Chase & Co. upped their price objective 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. Compass Point decreased their price target on shares of Blackstone Secured Lending Fund from $33.50 to $32.25 and set a “buy” rating for the company in a report on Friday, November 15th. Finally, Wells Fargo & Company lifted their price objective on Blackstone Secured Lending Fund from $29.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $32.79.

Blackstone Secured Lending Fund Trading Up 1.8 %

Shares of NYSE:BXSL opened at $33.72 on Thursday. The business has a fifty day simple moving average of $32.98 and a 200 day simple moving average of $31.48. Blackstone Secured Lending Fund has a 1 year low of $27.76 and a 1 year high of $34.64. The firm has a market cap of $7.55 billion, a price-to-earnings ratio of 9.37 and a beta of 0.43.

Blackstone Secured Lending Fund (NYSE:BXSL) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.02). The firm had revenue of $353.00 million for the quarter, compared to analysts’ expectations of $346.52 million. Blackstone Secured Lending Fund had a return on equity of 13.15% and a net margin of 53.91%. On average, sell-side analysts forecast that Blackstone Secured Lending Fund will post 3.54 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BXSL. Tidal Investments LLC raised its position in Blackstone Secured Lending Fund by 2.3% in the 4th quarter. Tidal Investments LLC now owns 14,280 shares of the company’s stock valued at $461,000 after purchasing an additional 320 shares during the last quarter. CIBC Private Wealth Group LLC boosted its holdings in Blackstone Secured Lending Fund by 1.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 20,189 shares of the company’s stock worth $644,000 after buying an additional 325 shares during the last quarter. Sunbelt Securities Inc. raised its holdings in Blackstone Secured Lending Fund by 0.7% in the third quarter. Sunbelt Securities Inc. now owns 49,442 shares of the company’s stock worth $1,448,000 after purchasing an additional 329 shares during the period. Delphi Management Inc. MA lifted its holdings in Blackstone Secured Lending Fund by 0.7% during the fourth quarter. Delphi Management Inc. MA now owns 47,745 shares of the company’s stock worth $1,543,000 after acquiring an additional 330 shares in the last quarter. Finally, Wealthspire Advisors LLC raised its holdings in Blackstone Secured Lending Fund by 1.9% during the 4th quarter. Wealthspire Advisors LLC now owns 19,232 shares of the company’s stock worth $621,000 after buying an additional 350 shares during the period. 36.49% of the stock is currently owned by institutional investors and hedge funds.

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).