Blackstone Secured Lending Fund (NYSE:BXSL) Receives $31.80 Average Target Price from Brokerages

Blackstone Secured Lending Fund (NYSE:BXSL) has been assigned an average rating of “Moderate Buy” from the seven analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $31.80.

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

Institutional Trading of Blackstone Secured Lending Fund

A number of institutional investors and hedge funds have recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Blackstone Secured Lending Fund during the 2nd quarter valued at $32,000. Farmers & Merchants Investments Inc. acquired a new position in shares of Blackstone Secured Lending Fund in the 2nd quarter valued at $37,000. Fairman Group LLC acquired a new position in shares of Blackstone Secured Lending Fund in the 4th quarter valued at $84,000. Clear Point Advisors Inc. raised its stake in shares of Blackstone Secured Lending Fund by 15.9% in the 2nd quarter. Clear Point Advisors Inc. now owns 2,914 shares of the company’s stock valued at $89,000 after buying an additional 400 shares in the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of Blackstone Secured Lending Fund in the 3rd quarter valued at $103,000. 36.49% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Secured Lending Fund Stock Performance

Shares of BXSL opened at $29.83 on Friday. The company’s 50 day moving average price is $29.90 and its 200 day moving average price is $30.68. Blackstone Secured Lending Fund has a 52 week low of $26.44 and a 52 week high of $32.67. The company has a market capitalization of $5.74 billion, a PE ratio of 7.95 and a beta of 0.43.

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

Blackstone Secured Lending Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, September 30th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 10.33%. The ex-dividend date is Monday, September 30th. 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).