Blackstone Secured Lending Fund (NYSE:BXSL) Given Consensus Recommendation of “Hold” by Analysts

Blackstone Secured Lending Fund (NYSE:BXSL) has been given an average rating of “Hold” by the ten research firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $24.8889.

Several analysts recently commented on BXSL shares. UBS Group increased their price objective on shares of Blackstone Secured Lending Fund from $24.50 to $25.50 and gave the company a “neutral” rating in a research report on Tuesday, September 1st. Zacks Research raised shares of Blackstone Secured Lending Fund from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 5th. Wall Street Zen upgraded shares of Blackstone Secured Lending Fund from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Oppenheimer initiated coverage on shares of Blackstone Secured Lending Fund in a research report on Thursday, July 23rd. They set a “market perform” rating and a $25.00 price target for the company. Finally, Keefe, Bruyette & Woods lowered shares of Blackstone Secured Lending Fund from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $25.00 to $24.00 in a report on Monday, June 8th.

Blackstone Secured Lending Fund Trading Up 0.0%

Blackstone Secured Lending Fund stock opened at $24.84 on Monday. The business’s fifty day simple moving average is $24.21 and its two-hundred day simple moving average is $23.98. Blackstone Secured Lending Fund has a 12 month low of $22.47 and a 12 month high of $28.59. The company has a market capitalization of $5.79 billion, a price-to-earnings ratio of 19.56 and a beta of 0.39.

Blackstone Secured Lending Fund (NYSE:BXSL) last released its earnings results on Thursday, August 6th. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.09. The firm had revenue of $233.30 million for the quarter, compared to analysts’ expectations of $326.72 million. Blackstone Secured Lending Fund had a return on equity of 11.86% and a net margin of 21.51%. On average, equities research analysts predict that Blackstone Secured Lending Fund will post 2.85 EPS for the current year.

Blackstone Secured Lending Fund Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Wednesday, September 30th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 12.4%. Blackstone Secured Lending Fund’s dividend payout ratio (DPR) is presently 242.52%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Valtrion Capital Management LLC lifted its position in Blackstone Secured Lending Fund by 3.5% during the fourth quarter. Valtrion Capital Management LLC now owns 14,607 shares of the company’s stock valued at $385,000 after purchasing an additional 494 shares during the period. Cooper Financial Group grew its position in Blackstone Secured Lending Fund by 5.6% in the 2nd quarter. Cooper Financial Group now owns 9,494 shares of the company’s stock worth $225,000 after purchasing an additional 507 shares during the period. Summit Global Investments grew its position in Blackstone Secured Lending Fund by 2.0% in the 1st quarter. Summit Global Investments now owns 31,272 shares of the company’s stock worth $741,000 after purchasing an additional 612 shares during the period. CFO4Life Group LLC raised its stake in Blackstone Secured Lending Fund by 0.9% during the 4th quarter. CFO4Life Group LLC now owns 67,573 shares of the company’s stock valued at $1,779,000 after buying an additional 630 shares during the last quarter. Finally, Stronghold Wealth Management L.L.C. raised its stake in Blackstone Secured Lending Fund by 1.0% during the 1st quarter. Stronghold Wealth Management L.L.C. now owns 78,766 shares of the company’s stock valued at $1,866,000 after buying an additional 755 shares during the last quarter. Hedge funds and other institutional investors own 36.49% of the company’s stock.

Blackstone Secured Lending Fund Company Profile

Blackstone Secured Lending Fund (NYSE:BXSL) is a business development company that provides financing to private, primarily U.S.-based companies. The fund is externally managed by an affiliate of Blackstone, a global investment firm, and operates as part of Blackstone’s private credit platform.

BXSL’s investment strategy focuses mainly on senior secured, floating-rate loans, with an emphasis on first-lien debt. Its portfolio companies are generally middle-market businesses across a range of industries.