Analysts Set Blackstone Secured Lending Fund (NYSE:BXSL) Price Target at $32.79

Blackstone Secured Lending Fund (NYSE:BXSL) has been given a consensus rating of “Moderate Buy” by the seven brokerages that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $32.79.

A number of research analysts have recently weighed in on the company. Wells Fargo & Company raised their price objective on Blackstone Secured Lending Fund from $29.00 to $31.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. raised their price objective on Blackstone Secured Lending Fund from $33.00 to $33.50 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Keefe, Bruyette & Woods raised their price objective on Blackstone Secured Lending Fund from $30.50 to $32.00 and gave the company a “market perform” rating in a research report on Thursday, February 27th. Finally, Truist Financial raised their price objective on Blackstone Secured Lending Fund from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, February 27th.

Blackstone Secured Lending Fund Stock Performance

Shares of BXSL stock opened at $31.96 on Tuesday. Blackstone Secured Lending Fund has a 52-week low of $27.76 and a 52-week high of $34.64. The firm has a market capitalization of $7.28 billion, a PE ratio of 8.88 and a beta of 0.43. The stock has a fifty day simple moving average of $32.96 and a two-hundred day simple moving average of $31.70.

Blackstone Secured Lending Fund (NYSE:BXSL) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.02). Blackstone Secured Lending Fund had a return on equity of 13.15% and a net margin of 53.91%. The business had revenue of $353.00 million during the quarter, compared to analysts’ expectations of $346.52 million. On average, sell-side analysts forecast that Blackstone Secured Lending Fund will post 3.54 EPS for the current fiscal year.

Blackstone Secured Lending Fund Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 31st will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 9.64%. The ex-dividend date of this dividend is Monday, March 31st. Blackstone Secured Lending Fund’s payout ratio is 88.76%.

Institutional Trading of Blackstone Secured Lending Fund

Several institutional investors have recently added to or reduced their stakes in the company. Comprehensive Money Management Services LLC bought a new stake in Blackstone Secured Lending Fund in the fourth quarter worth about $560,000. Ameriflex Group Inc. bought a new stake in Blackstone Secured Lending Fund in the fourth quarter worth about $55,000. Sunbelt Securities Inc. lifted its stake in Blackstone Secured Lending Fund by 6.9% in the fourth quarter. Sunbelt Securities Inc. now owns 52,846 shares of the company’s stock worth $1,748,000 after purchasing an additional 3,404 shares during the last quarter. Two Sigma Investments LP lifted its stake in Blackstone Secured Lending Fund by 16.1% in the fourth quarter. Two Sigma Investments LP now owns 209,662 shares of the company’s stock worth $6,774,000 after purchasing an additional 29,115 shares during the last quarter. Finally, Tidal Investments LLC lifted its stake in Blackstone Secured Lending Fund by 2.3% in the fourth quarter. Tidal Investments LLC now owns 14,280 shares of the company’s stock worth $461,000 after purchasing an additional 320 shares during the last quarter. Institutional investors own 36.49% of the company’s stock.

Blackstone Secured Lending Fund Company Profile

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).