Blackstone Secured Lending Fund (NYSE:BXSL) Receives $32.79 Consensus Price Target from Analysts

Shares of Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the six brokerages that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $32.63.

A number of brokerages have commented on BXSL. JPMorgan Chase & Co. upped their price objective on Blackstone Secured Lending Fund from $33.00 to $33.50 and gave the company an "overweight" rating in a report on Monday, February 3rd. Wells Fargo & Company boosted their price objective on shares of Blackstone Secured Lending Fund from $29.00 to $31.00 and gave the company an "equal weight" rating in a report on Wednesday, January 29th. Keefe, Bruyette & Woods lowered their target price on shares of Blackstone Secured Lending Fund from $32.00 to $31.00 and set a "market perform" rating on the stock in a report on Tuesday. Finally, Truist Financial boosted their price target on Blackstone Secured Lending Fund from $33.00 to $35.00 and gave the company a "buy" rating in a research note on Thursday, February 27th.

Blackstone Secured Lending Fund Stock Down 5.2 %

Shares of BXSL stock traded down $1.50 during trading on Friday, reaching $27.49. 568,538 shares of the company's stock were exchanged, compared to its average volume of 1,027,619. Blackstone Secured Lending Fund has a twelve month low of $25.89 and a twelve month high of $34.64. The firm's fifty day moving average price is $32.57 and its 200-day moving average price is $31.88. The stock has a market capitalization of $6.26 billion, a PE ratio of 7.66 and a beta of 0.43.

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.02). The company had revenue of $353.00 million during the quarter, compared to analyst estimates of $346.52 million. Blackstone Secured Lending Fund had a net margin of 53.91% and a return on equity of 13.15%. As a group, analysts anticipate that Blackstone Secured Lending Fund will post 3.54 EPS for the current fiscal year.

Blackstone Secured Lending Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 31st will be given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 11.20%. The ex-dividend date is Monday, March 31st. Blackstone Secured Lending Fund's dividend payout ratio is presently 88.76%.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company grew its position in Blackstone Secured Lending Fund by 4.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,228 shares of the company's stock worth $241,000 after acquiring an additional 382 shares during the last quarter. Verition Fund Management LLC bought a new stake in shares of Blackstone Secured Lending Fund during the third quarter worth about $901,000. HighTower Advisors LLC raised its holdings in Blackstone Secured Lending Fund by 2.1% in the 3rd quarter. HighTower Advisors LLC now owns 1,125,528 shares of the company's stock valued at $32,938,000 after buying an additional 23,386 shares during the last quarter. Quarry LP bought a new stake in Blackstone Secured Lending Fund during the 3rd quarter worth approximately $48,000. Finally, Kovitz Investment Group Partners LLC acquired a new position in Blackstone Secured Lending Fund in the 3rd quarter valued at approximately $354,000. Institutional investors own 36.49% of the company's stock.

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).