Blackstone Secured Lending Fund (NYSE:BXSL) Stock Rated "Market Perform" in New Coverage at Citizens Jmp

Key Points

• Citizens JMP initiated coverage of Blackstone Secured Lending Fund with a “Market Perform” rating. The consensus view is “Hold,” with a $24.89 average price target.
• BXSL reported quarterly EPS of $0.75, exceeding the $0.66 analyst estimate, while revenue of $320.47 million fell short of the $326.72 million consensus.
• The stock opened at $23.35, with a $5.44 billion market capitalization and a one-year trading range of $22.47 to $28.59; institutional investors own 36.49% of shares.

Investment analysts at Citizens Jmp began coverage on shares of Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) in a report issued on Monday, Briefing.com reports. The firm set a "market perform" rating on the stock.

Other equities analysts have also recently issued reports about the company. JPMorgan Chase & Co. reduced their target price on Blackstone Secured Lending Fund from $24.00 to $23.00 and set an "overweight" rating for the company in a research note on Thursday, July 2nd. UBS Group raised their price target on shares of Blackstone Secured Lending Fund from $24.50 to $25.50 and gave the stock a "neutral" rating in a research report on Tuesday, September 1st. Citigroup assumed coverage on shares of Blackstone Secured Lending Fund in a research note on Monday. They issued a "market perform" rating for the company. Oppenheimer started coverage on shares of Blackstone Secured Lending Fund in a report on Thursday, July 23rd. They issued a "market perform" rating and a $25.00 price target on the stock. Finally, Zacks Research raised shares of Blackstone Secured Lending Fund from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 5th. Four analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Blackstone Secured Lending Fund presently has an average rating of "Hold" and a consensus price target of $24.89.

Blackstone Secured Lending Fund Stock Performance

NYSE:BXSL opened at $23.35 on Monday. The stock has a market cap of $5.44 billion, a price-to-earnings ratio of 18.39 and a beta of 0.39. Blackstone Secured Lending Fund has a one year low of $22.47 and a one year high of $28.59. The business's 50-day simple moving average is $24.35 and its 200 day simple moving average is $23.98.

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.09. Blackstone Secured Lending Fund had a return on equity of 11.86% and a net margin of 21.51%. The firm had revenue of $320.47 million during the quarter, compared to analyst estimates of $326.72 million. On average, equities research analysts predict that Blackstone Secured Lending Fund will post 2.85 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Allied Private Wealth LLC acquired a new position in shares of Blackstone Secured Lending Fund in the 2nd quarter worth approximately $32,000. FNY Investment Advisers LLC acquired a new stake in shares of Blackstone Secured Lending Fund during the 2nd quarter valued at approximately $33,000. First Bancorp Inc ME acquired a new stake in shares of Blackstone Secured Lending Fund during the 2nd quarter valued at approximately $38,000. Western Wealth Management LLC bought a new position in Blackstone Secured Lending Fund during the first quarter worth $58,000. Finally, Root Financial Partners LLC bought a new position in Blackstone Secured Lending Fund during the third quarter worth $94,000. Institutional investors own 36.49% of the company's stock.

About Blackstone Secured Lending Fund

Blackstone Secured Lending Fund NYSE: BXSL is a business development company that invests in privately owned middle-market companies. The fund seeks to generate current income and long-term capital appreciation primarily through investments in senior secured, floating-rate loans.

BXSL's portfolio may also include second-lien loans, unsecured debt and equity investments. Its investments are generally made in companies across a range of industries, with an emphasis on businesses that have established operations and cash flows.

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