Analysts Set Blackstone Secured Lending Fund (NYSE:BXSL) PT at $30.92

Shares of Blackstone Secured Lending Fund (NYSE:BXSL) have been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $30.92.

A number of equities research analysts recently commented on BXSL shares. Bank of America upgraded Blackstone Secured Lending Fund from a “neutral” rating to a “buy” rating in a research report on Monday, March 25th. JPMorgan Chase & Co. raised their price target on shares of Blackstone Secured Lending Fund from $30.00 to $31.50 and gave the company an “overweight” rating in a report on Friday, April 12th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BXSL. Confluence Investment Management LLC boosted its stake in shares of Blackstone Secured Lending Fund by 0.9% in the 2nd quarter. Confluence Investment Management LLC now owns 189,988 shares of the company’s stock worth $5,817,000 after buying an additional 1,679 shares during the last quarter. Cetera Advisors LLC lifted its holdings in shares of Blackstone Secured Lending Fund by 777.1% in the first quarter. Cetera Advisors LLC now owns 68,924 shares of the company’s stock worth $2,147,000 after buying an additional 61,066 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of Blackstone Secured Lending Fund by 374.1% in the first quarter. Cetera Investment Advisers now owns 154,231 shares of the company’s stock valued at $4,804,000 after acquiring an additional 121,698 shares during the period. BigSur Wealth Management LLC increased its holdings in Blackstone Secured Lending Fund by 10.2% during the 1st quarter. BigSur Wealth Management LLC now owns 114,958 shares of the company’s stock worth $3,669,000 after acquiring an additional 10,600 shares during the period. Finally, Delphi Management Inc. MA raised its stake in Blackstone Secured Lending Fund by 8.4% in the first quarter. Delphi Management Inc. MA now owns 56,642 shares of the company’s stock valued at $1,764,000 after purchasing an additional 4,384 shares in the last quarter. Institutional investors and hedge funds own 36.49% of the company’s stock.

Blackstone Secured Lending Fund Stock Down 0.1 %

Shares of BXSL stock opened at $31.12 on Monday. Blackstone Secured Lending Fund has a 12 month low of $25.83 and a 12 month high of $32.67. The company has a market cap of $5.99 billion, a PE ratio of 8.30 and a beta of 0.45. The business’s 50 day moving average is $31.39 and its two-hundred day moving average is $30.15.

Blackstone Secured Lending Fund (NYSE:BXSL) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.87 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.05). The business had revenue of $303.96 million during the quarter, compared to the consensus estimate of $305.08 million. Blackstone Secured Lending Fund had a return on equity of 14.06% and a net margin of 55.54%. As a group, equities analysts expect that Blackstone Secured Lending Fund will post 3.56 EPS for the current fiscal year.

Blackstone Secured Lending Fund Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Sunday, June 30th will be paid a $0.77 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.08 annualized dividend and a dividend yield of 9.90%. Blackstone Secured Lending Fund’s payout ratio is 82.13%.

About Blackstone Secured Lending Fund

Blackstone Secured Lending Fund is business development company and a Delaware statutory trust formed on March 26, 2018, and structured as an externally managed, non-diversified closed-end investment Fund. On October 26, 2018, the fund elected to be regulated as a business development company (BDC) under the Investment Company Act of 1940, as amended (the 1940 Act).