Blackstone Secured Lending Fund (NYSE:BXSL) Stock Has Average Price Target of $24.89

Shares of Blackstone Secured Lending Fund (NYSE:BXSL) have received an average recommendation of “Hold” from the ten brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $24.89.

A number of brokerages have commented on BXSL. Wall Street Zen upgraded Blackstone Secured Lending Fund from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. JPMorgan Chase & Co. decreased their target price on Blackstone Secured Lending Fund from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Thursday, July 2nd. UBS Group increased their target price on Blackstone Secured Lending Fund from $24.50 to $25.50 and gave the company a “neutral” rating in a research note on Tuesday, September 1st. Oppenheimer initiated coverage on Blackstone Secured Lending Fund in a research note on Thursday, July 23rd. They issued a “market perform” rating and a $25.00 target price for the company. Finally, Zacks Research upgraded Blackstone Secured Lending Fund from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 5th.

Institutional Trading of Blackstone Secured Lending Fund

Several large investors have recently bought and sold shares of the company. Whipplewood Advisors LLC boosted its stake in shares of Blackstone Secured Lending Fund by 17.2% in the first quarter. Whipplewood Advisors LLC now owns 82,867 shares of the company’s stock valued at $1,963,000 after purchasing an additional 12,181 shares during the period. Stronghold Wealth Management L.L.C. grew its holdings 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 purchasing an additional 755 shares in the last quarter. Quantum Portfolio Management LLC acquired a new stake in Blackstone Secured Lending Fund during the 1st quarter valued at $38,000. Kathmere Capital Management LLC acquired a new stake in Blackstone Secured Lending Fund during the 1st quarter valued at $278,000. Finally, Strs Ohio purchased a new stake in Blackstone Secured Lending Fund during the 1st quarter worth $94,760,000. Institutional investors and hedge funds own 36.49% of the company’s stock.

Blackstone Secured Lending Fund Stock Up 2.0%

Blackstone Secured Lending Fund stock opened at $24.25 on Friday. Blackstone Secured Lending Fund has a 52-week low of $22.47 and a 52-week high of $28.59. The firm has a fifty day moving average of $24.47 and a 200-day moving average of $23.99. The firm has a market capitalization of $5.65 billion, a P/E ratio of 7.57 and a beta of 0.39.

Blackstone Secured Lending Fund (NYSE:BXSL) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.09. Blackstone Secured Lending Fund had a net margin of 21.51% and a return on equity of 11.86%. The firm had revenue of $320.47 million during the quarter, compared to analysts’ expectations of $326.72 million. On average, research analysts expect that Blackstone Secured Lending Fund will post 2.85 EPS for the current fiscal year.

Blackstone Secured Lending Fund Dividend Announcement

The business also recently declared 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. This represents a $3.08 dividend on an annualized basis and a yield of 12.7%. The ex-dividend date is Wednesday, September 30th. Blackstone Secured Lending Fund’s dividend payout ratio is currently 242.52%.

Blackstone Secured Lending Fund Company Profile

Blackstone Secured Lending Fund (NYSE: BXSL) is a business development company that invests primarily in the debt of privately owned, middle-market companies. The fund focuses on generating income through a portfolio of senior secured loans, with an emphasis on first-lien loans and other floating-rate investments.

BXSL may also invest in second-lien loans, unsecured debt and equity interests when appropriate. Its investments are sourced and managed through the private credit platform of Blackstone, one of the world’s largest alternative asset managers.