Blackstone Secured Lending Fund (NYSE:BXSL) Trading Up 1.3% – What’s Next?

Blackstone Secured Lending Fund (NYSE:BXSL)’s share price shot up 1.3% during trading on Tuesday . The company traded as high as $32.83 and last traded at $32.78. 971,909 shares traded hands during mid-day trading, an increase of 1% from the average session volume of 963,035 shares. The stock had previously closed at $32.36.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Keefe, Bruyette & Woods boosted their price objective on Blackstone Secured Lending Fund from $30.50 to $32.00 and gave the stock a “market perform” rating in a research report on Thursday, February 27th. JPMorgan Chase & Co. increased their price objective on Blackstone Secured Lending Fund from $33.00 to $33.50 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Truist Financial boosted their target price on shares of Blackstone Secured Lending Fund from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Finally, Wells Fargo & Company increased their price target on shares of Blackstone Secured Lending Fund from $29.00 to $31.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.79.

Blackstone Secured Lending Fund Trading Up 1.3 %

The business’s fifty day moving average price is $33.17 and its 200 day moving average price is $31.97. The company has a market capitalization of $7.47 billion, a P/E ratio of 9.10 and a beta of 0.43.

Blackstone Secured Lending Fund (NYSE:BXSL) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $346.52 million. Equities research analysts anticipate that Blackstone Secured Lending Fund will post 3.54 EPS for the current year.

Blackstone Secured Lending Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.08 annualized dividend and a yield of 9.40%. Blackstone Secured Lending Fund’s dividend payout ratio is currently 88.76%.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

Institutional investors and hedge funds have recently made changes to their positions in the company. CWC Advisors LLC. boosted its position in Blackstone Secured Lending Fund by 2.8% in the fourth quarter. CWC Advisors LLC. now owns 77,528 shares of the company’s stock valued at $2,505,000 after buying an additional 2,136 shares in the last quarter. Comprehensive Money Management Services LLC acquired a new position in shares of Blackstone Secured Lending Fund in the 4th quarter worth approximately $560,000. Ameriflex Group Inc. bought a new stake in Blackstone Secured Lending Fund during the 4th quarter worth approximately $55,000. Sunbelt Securities Inc. increased its holdings in Blackstone Secured Lending Fund by 6.9% during the 4th quarter. Sunbelt Securities Inc. now owns 52,846 shares of the company’s stock valued at $1,748,000 after purchasing an additional 3,404 shares in the last quarter. Finally, Two Sigma Investments LP raised its position in Blackstone Secured Lending Fund by 16.1% in the 4th quarter. Two Sigma Investments LP now owns 209,662 shares of the company’s stock valued at $6,774,000 after purchasing an additional 29,115 shares during the last quarter. Institutional investors and hedge funds own 36.49% of the company’s stock.

Blackstone Secured Lending Fund Company Profile

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).