Truist Financial Issues Pessimistic Forecast for Blackstone Secured Lending Fund (NYSE:BXSL) Stock Price

Blackstone Secured Lending Fund (NYSE:BXSL) had its price objective cut by stock analysts at Truist Financial from $33.00 to $30.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 23.66% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Wall Street Zen cut Blackstone Secured Lending Fund from a “hold” rating to a “sell” rating in a report on Sunday. Wells Fargo & Company lowered Blackstone Secured Lending Fund from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $26.00 to $24.00 in a research report on Wednesday, January 7th. Royal Bank Of Canada reduced their target price on Blackstone Secured Lending Fund from $29.00 to $28.00 and set an “outperform” rating for the company in a report on Tuesday. Keefe, Bruyette & Woods dropped their price target on Blackstone Secured Lending Fund from $29.00 to $27.00 and set an “outperform” rating on the stock in a research note on Thursday, February 26th. Finally, Bank of America cut their price objective on Blackstone Secured Lending Fund from $33.50 to $29.00 and set a “buy” rating on the stock in a report on Friday, November 28th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $28.13.

Blackstone Secured Lending Fund Stock Performance

NYSE BXSL traded down $0.07 on Wednesday, reaching $24.26. The company’s stock had a trading volume of 303,690 shares, compared to its average volume of 2,366,363. Blackstone Secured Lending Fund has a twelve month low of $23.30 and a twelve month high of $33.73. The firm’s 50 day moving average is $25.59 and its two-hundred day moving average is $26.82. The stock has a market cap of $5.64 billion, a PE ratio of 9.86 and a beta of 0.43.

Blackstone Secured Lending Fund (NYSE:BXSL) last released its earnings results on Wednesday, February 25th. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.01. Blackstone Secured Lending Fund had a net margin of 39.69% and a return on equity of 11.82%. The business had revenue of $196.54 million for the quarter, compared to the consensus estimate of $359.59 million. Equities research analysts anticipate that Blackstone Secured Lending Fund will post 3.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

A number of large investors have recently added to or reduced their stakes in BXSL. Caitong International Asset Management Co. Ltd boosted its holdings in Blackstone Secured Lending Fund by 60,616.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,643 shares of the company’s stock valued at $96,000 after purchasing an additional 3,637 shares during the period. Sankala Group LLC acquired a new stake in Blackstone Secured Lending Fund during the fourth quarter worth about $79,000. Invesco Ltd. increased its stake in Blackstone Secured Lending Fund by 22.6% during the fourth quarter. Invesco Ltd. now owns 107,310 shares of the company’s stock valued at $2,825,000 after acquiring an additional 19,807 shares during the period. Strive Financial Group LLC acquired a new position in Blackstone Secured Lending Fund in the 4th quarter valued at approximately $378,000. Finally, Pillsbury Lake Capital LLC bought a new stake in shares of Blackstone Secured Lending Fund in the 4th quarter worth approximately $2,651,000. Institutional investors own 36.49% of the company’s stock.

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.