Blackstone Secured Lending Fund (NYSE:BXSL) Coverage Initiated at B. Riley

Key Points

• Investment analysts at B. Riley have initiated coverage on Blackstone Secured Lending Fund (NYSE:BXSL) with a buy rating and a price target of $32.00, indicating a potential upside of 18.19% from the last close.
• Blackstone Secured Lending Fund has a market cap of $6.23 billion and reported quarterly earnings of $0.77 per share, falling short of analysts' expectations.
• The current consensus rating for Blackstone Secured Lending Fund is a Moderate Buy, with five analysts rating it as a Buy and three as Hold.

Investment analysts at B. Riley initiated coverage on shares of Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) in a research note issued to investors on Thursday,Benzinga reports. The brokerage set a "buy" rating and a $32.00 price target on the stock. B. Riley's price objective would indicate a potential upside of 18.19% from the company's previous close.

Other equities analysts also recently issued research reports about the company. Wells Fargo & Company upped their target price on Blackstone Secured Lending Fund from $27.00 to $28.00 and gave the company an "equal weight" rating in a report on Thursday, August 7th. Royal Bank Of Canada decreased their price objective on Blackstone Secured Lending Fund from $33.00 to $32.00 and set an "outperform" rating for the company in a report on Thursday, September 4th. Wall Street Zen downgraded Blackstone Secured Lending Fund from a "hold" rating to a "sell" rating in a report on Saturday, September 13th. Finally, UBS Group assumed coverage on Blackstone Secured Lending Fund in a report on Thursday, September 11th. They set a "neutral" rating and a $31.00 price target for the company. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $31.41.

Blackstone Secured Lending Fund Stock Performance

NYSE:BXSL opened at $27.08 on Thursday. The firm has a market cap of $6.23 billion, a PE ratio of 9.53 and a beta of 0.45. Blackstone Secured Lending Fund has a fifty-two week low of $25.89 and a fifty-two week high of $34.64. The business has a 50 day moving average price of $29.98 and a 200-day moving average price of $30.60.

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.77 earnings per share for the quarter, missing analysts' consensus estimates of $0.81 by ($0.04). The company had revenue of $344.80 million for the quarter, compared to analysts' expectations of $353.55 million. Blackstone Secured Lending Fund had a net margin of 44.25% and a return on equity of 12.07%. Research analysts predict that Blackstone Secured Lending Fund will post 3.54 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Tidal Investments LLC increased its stake in Blackstone Secured Lending Fund by 2.3% in the 4th quarter. Tidal Investments LLC now owns 14,280 shares of the company's stock worth $461,000 after acquiring an additional 320 shares during the last quarter. Chicago Partners Investment Group LLC boosted its holdings in shares of Blackstone Secured Lending Fund by 5.0% in the 1st quarter. Chicago Partners Investment Group LLC now owns 7,487 shares of the company's stock worth $222,000 after purchasing an additional 357 shares during the period. Investment Partners Asset Management Inc. boosted its holdings in shares of Blackstone Secured Lending Fund by 2.0% in the 1st quarter. Investment Partners Asset Management Inc. now owns 19,710 shares of the company's stock worth $638,000 after purchasing an additional 381 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Blackstone Secured Lending Fund by 45.1% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,270 shares of the company's stock worth $41,000 after purchasing an additional 395 shares during the period. Finally, FLC Capital Advisors boosted its holdings in shares of Blackstone Secured Lending Fund by 2.8% in the 2nd quarter. FLC Capital Advisors now owns 14,715 shares of the company's stock worth $452,000 after purchasing an additional 405 shares during the period. 36.49% of the stock is owned by hedge funds and other institutional investors.

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).

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