Brokerages Set Blackstone Secured Lending Fund (NYSE:BXSL) PT at $29.38

Blackstone Secured Lending Fund (NYSE:BXSL) has received an average rating of “Moderate Buy” from the nine brokerages that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $29.1250.

BXSL has been the topic of a number of recent research reports. Zacks Research raised Blackstone Secured Lending Fund from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Bank of America reduced their price target on shares of Blackstone Secured Lending Fund from $33.50 to $29.00 and set a “buy” rating for the company in a research report on Friday, November 28th. UBS Group lowered their price objective on shares of Blackstone Secured Lending Fund from $31.00 to $28.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. B. Riley reduced their target price on shares of Blackstone Secured Lending Fund from $32.00 to $30.00 and set a “buy” rating for the company in a report on Wednesday, November 12th. Finally, Wall Street Zen upgraded shares of Blackstone Secured Lending Fund from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. FLC Capital Advisors increased its holdings in Blackstone Secured Lending Fund by 2.8% in the 2nd quarter. FLC Capital Advisors now owns 14,715 shares of the company’s stock worth $452,000 after acquiring an additional 405 shares in the last quarter. Prime Capital Investment Advisors LLC boosted its position in shares of Blackstone Secured Lending Fund by 5.9% in the third quarter. Prime Capital Investment Advisors LLC now owns 7,704 shares of the company’s stock worth $201,000 after purchasing an additional 430 shares during the period. Comprehensive Money Management Services LLC raised its position in shares of Blackstone Secured Lending Fund by 2.7% during the 3rd quarter. Comprehensive Money Management Services LLC now owns 16,916 shares of the company’s stock valued at $441,000 after purchasing an additional 440 shares during the period. Truist Financial Corp raised its position in shares of Blackstone Secured Lending Fund by 1.4% during the 2nd quarter. Truist Financial Corp now owns 32,995 shares of the company’s stock valued at $1,015,000 after purchasing an additional 442 shares during the period. Finally, Cassaday & Co Wealth Management LLC lifted its stake in shares of Blackstone Secured Lending Fund by 3.2% during the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 15,079 shares of the company’s stock valued at $393,000 after buying an additional 466 shares in the last quarter. 36.49% of the stock is currently owned by institutional investors.

Blackstone Secured Lending Fund Trading Down 0.4%

NYSE:BXSL opened at $26.25 on Wednesday. The company has a market cap of $6.07 billion, a PE ratio of 9.87 and a beta of 0.42. The company has a 50 day simple moving average of $27.06 and a two-hundred day simple moving average of $28.45. Blackstone Secured Lending Fund has a 12 month low of $24.85 and a 12 month high of $34.64.

Blackstone Secured Lending Fund (NYSE:BXSL) last released its quarterly earnings results on Monday, November 10th. The company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.02. Blackstone Secured Lending Fund had a return on equity of 11.85% and a net margin of 42.38%.The firm had revenue of $358.56 million for the quarter, compared to analysts’ expectations of $353.55 million. Research analysts forecast that Blackstone Secured Lending Fund will post 3.54 earnings per share for the current year.

Blackstone Secured Lending Fund Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 23rd. Shareholders of record on Wednesday, December 31st will be given a $0.77 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $3.08 dividend on an annualized basis and a yield of 11.7%. Blackstone Secured Lending Fund’s dividend payout ratio is presently 115.79%.

Blackstone Secured Lending Fund Company Profile

Blackstone Secured Lending Fund (NYSE: BXSL) is a closed-end management investment company sponsored by Blackstone Credit, the credit-oriented business of Blackstone Inc Launched in May 2020, BXSL seeks to deliver attractive risk-adjusted returns primarily through current income and, to a lesser extent, capital appreciation. The fund raises capital from institutional and retail investors and deploys it into a diversified portfolio of senior secured loans and other credit instruments.

The fund’s principal investment focus is on first-lien senior secured loans and unitranche debt extended to middle-market companies across North America.