Blackstone Secured Lending Fund (NYSE:BXSL) Sees Large Increase in Short Interest

Blackstone Secured Lending Fund (NYSE:BXSL) was the recipient of a significant increase in short interest in the month of August. As of August 15th, there was short interest totalling 1,680,000 shares, an increase of 15.1% from the July 31st total of 1,460,000 shares. Based on an average daily volume of 935,900 shares, the days-to-cover ratio is currently 1.8 days. Approximately 1.0% of the shares of the company are short sold.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Institutional investors and hedge funds have recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Blackstone Secured Lending Fund during the 2nd quarter valued at approximately $32,000. Farmers & Merchants Investments Inc. purchased a new position in shares of Blackstone Secured Lending Fund during the 2nd quarter valued at approximately $37,000. PSI Advisors LLC boosted its stake in shares of Blackstone Secured Lending Fund by 68.0% during the 1st quarter. PSI Advisors LLC now owns 2,100 shares of the company’s stock valued at $65,000 after buying an additional 850 shares during the last quarter. Cape Investment Advisory Inc. purchased a new position in shares of Blackstone Secured Lending Fund during the 4th quarter valued at approximately $65,000. Finally, Security National Bank purchased a new position in shares of Blackstone Secured Lending Fund during the 4th quarter valued at approximately $73,000. Hedge funds and other institutional investors own 36.49% of the company’s stock.

Blackstone Secured Lending Fund Stock Performance

BXSL opened at $30.14 on Friday. The firm has a 50 day moving average price of $30.38 and a 200 day moving average price of $30.69. The company has a market cap of $5.80 billion, a PE ratio of 8.04 and a beta of 0.44. Blackstone Secured Lending Fund has a 1 year low of $25.83 and a 1 year high of $32.67.

Blackstone Secured Lending Fund (NYSE:BXSL) last posted its earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.01). The business had revenue of $327.06 million for the quarter, compared to analyst estimates of $310.23 million. Blackstone Secured Lending Fund had a return on equity of 14.06% and a net margin of 55.54%. During the same period last year, the company posted $1.06 EPS. On average, sell-side analysts predict 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 declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, September 30th will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 10.22%. The ex-dividend date is Monday, September 30th. Blackstone Secured Lending Fund’s dividend payout ratio is presently 82.13%.

Analyst Ratings Changes

A number of equities research analysts have commented on BXSL shares. 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. Wells Fargo & Company cut their price target on Blackstone Secured Lending Fund from $32.00 to $31.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. lifted their price target on Blackstone Secured Lending Fund from $31.50 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $31.80.

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).