Brokerages Set Blackstone Secured Lending Fund (NYSE:BXSL) Target Price at $31.80

Shares of Blackstone Secured Lending Fund (NYSE:BXSL) have received a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $31.80.

A number of equities research analysts have weighed in on BXSL shares. Wells Fargo & Company lowered their price objective on Blackstone Secured Lending Fund from $32.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $33.00 target price on shares of Blackstone Secured Lending Fund in a report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Blackstone Secured Lending Fund from $31.50 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Hedge funds and other institutional investors have recently modified their holdings of the company. Bernzott Capital Advisors lifted its position in Blackstone Secured Lending Fund by 17.1% in the 4th quarter. Bernzott Capital Advisors now owns 176,254 shares of the company’s stock valued at $4,872,000 after purchasing an additional 25,755 shares during the last quarter. Pine Valley Investments Ltd Liability Co raised its stake in Blackstone Secured Lending Fund by 135.2% during the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 135,314 shares of the company’s stock valued at $3,740,000 after acquiring an additional 77,773 shares in the last quarter. Chesapeake Capital Corp IL acquired a new position in Blackstone Secured Lending Fund during the 4th quarter worth $1,072,000. AXS Investments LLC bought a new position in shares of Blackstone Secured Lending Fund in the fourth quarter worth $276,000. Finally, GFS Advisors LLC increased its holdings in shares of Blackstone Secured Lending Fund by 63.8% during the first quarter. GFS Advisors LLC now owns 43,900 shares of the company’s stock valued at $1,367,000 after purchasing an additional 17,100 shares during the period. Institutional investors and hedge funds own 36.49% of the company’s stock.

Blackstone Secured Lending Fund Stock Up 1.2 %

NYSE BXSL opened at $30.52 on Tuesday. The firm has a market cap of $5.87 billion, a P/E ratio of 8.14 and a beta of 0.44. Blackstone Secured Lending Fund has a 52-week low of $25.83 and a 52-week high of $32.67. The business’s 50-day moving average price is $30.07 and its 200 day moving average price is $30.76.

Blackstone Secured Lending Fund (NYSE:BXSL) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.01). The firm had revenue of $327.06 million during the quarter, compared to analysts’ expectations of $310.23 million. Blackstone Secured Lending Fund had a net margin of 58.08% and a return on equity of 13.36%. During the same quarter last year, the business earned $1.06 earnings per share. As a group, analysts anticipate that Blackstone Secured Lending Fund will post 3.55 earnings per share for the current year.

Blackstone Secured Lending Fund Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 10.09%. The ex-dividend date of this dividend is Monday, September 30th. Blackstone Secured Lending Fund’s dividend payout ratio (DPR) is presently 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).