Analysts Set Blackstone Secured Lending Fund (NYSE:BXSL) Target Price at $24.78

Shares of Blackstone Secured Lending Fund (NYSE:BXSL) have been given an average recommendation of “Hold” by the ten ratings firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $24.7778.

Several research analysts have issued reports on BXSL shares. Keefe, Bruyette & Woods cut Blackstone Secured Lending Fund from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $25.00 to $24.00 in a research report on Monday, June 8th. Royal Bank Of Canada reduced their price target on shares of Blackstone Secured Lending Fund from $28.00 to $26.00 and set an “outperform” rating for the company in a research report on Monday, May 18th. Zacks Research upgraded shares of Blackstone Secured Lending Fund from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 5th. Wells Fargo & Company cut their target price on shares of Blackstone Secured Lending Fund from $24.00 to $22.00 and set an “underweight” rating for the company in a research report on Friday, May 8th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Blackstone Secured Lending Fund from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Thursday, July 2nd.

Blackstone Secured Lending Fund Trading Up 0.4%

Shares of BXSL opened at $24.94 on Thursday. The firm has a fifty day simple moving average of $23.84 and a two-hundred day simple moving average of $23.95. The firm has a market cap of $5.81 billion, a PE ratio of 19.64 and a beta of 0.38. Blackstone Secured Lending Fund has a 1-year low of $22.47 and a 1-year high of $30.20.

Blackstone Secured Lending Fund (NYSE:BXSL) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.09. Blackstone Secured Lending Fund had a return on equity of 11.86% and a net margin of 21.51%.The firm had revenue of $233.30 million for the quarter, compared to the consensus estimate of $326.72 million. As a group, research analysts forecast that Blackstone Secured Lending Fund will post 2.84 EPS for the current fiscal year.

Blackstone Secured Lending Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.77 per share. 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 12.3%. Blackstone Secured Lending Fund’s payout ratio is presently 242.52%.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

A number of institutional investors have recently bought and sold shares of BXSL. Osterweis Capital Management Inc. bought a new stake in Blackstone Secured Lending Fund during the fourth quarter valued at about $33,000. Hilton Head Capital Partners LLC bought a new position in shares of Blackstone Secured Lending Fund during the 4th quarter valued at approximately $34,000. Allied Private Wealth LLC purchased a new stake in Blackstone Secured Lending Fund in the 2nd quarter worth approximately $32,000. FNY Investment Advisers LLC purchased a new stake in Blackstone Secured Lending Fund in the 2nd quarter worth approximately $33,000. Finally, First Bancorp Inc ME bought a new stake in Blackstone Secured Lending Fund during the 2nd quarter worth approximately $38,000. 36.49% of the stock is owned by institutional investors.

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.