Blackstone Secured Lending Fund (NYSE:BXSL) Receives Consensus Rating of "Moderate Buy" from Brokerages

Shares of Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) have earned an average recommendation of "Moderate Buy" from the six brokerages that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $31.71.

Several research analysts have recently issued reports on the stock. Wells Fargo & Company cut their target price on shares of Blackstone Secured Lending Fund from $31.00 to $29.00 and set an "equal weight" rating on the stock in a report on Monday, April 28th. Truist Financial upped their price objective on shares of 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. Keefe, Bruyette & Woods cut their target price on Blackstone Secured Lending Fund from $32.00 to $31.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 8th. Finally, JPMorgan Chase & Co. lowered their price target on Blackstone Secured Lending Fund from $33.50 to $30.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th.

Institutional Trading of Blackstone Secured Lending Fund

A number of hedge funds have recently modified their holdings of BXSL. Proficio Capital Partners LLC boosted its stake in Blackstone Secured Lending Fund by 2,548.0% during the fourth quarter. Proficio Capital Partners LLC now owns 11,032,118 shares of the company's stock worth $356,448,000 after acquiring an additional 10,615,491 shares in the last quarter. CCLA Investment Management bought a new position in Blackstone Secured Lending Fund during the 4th quarter valued at approximately $67,323,000. Van ECK Associates Corp raised its stake in Blackstone Secured Lending Fund by 57.7% during the fourth quarter. Van ECK Associates Corp now owns 5,563,231 shares of the company's stock valued at $179,748,000 after buying an additional 2,035,623 shares during the last quarter. Generali Asset Management SPA SGR bought a new stake in Blackstone Secured Lending Fund in the fourth quarter worth $35,640,000. Finally, Progeny 3 Inc. bought a new stake in Blackstone Secured Lending Fund in the fourth quarter worth $24,345,000. Institutional investors own 36.49% of the company's stock.

Blackstone Secured Lending Fund Price Performance

NYSE BXSL traded up $0.60 on Wednesday, reaching $29.62. 1,071,225 shares of the company's stock traded hands, compared to its average volume of 1,061,531. The stock has a market cap of $6.75 billion, a PE ratio of 8.23 and a beta of 0.43. The stock has a 50-day simple moving average of $30.88 and a 200 day simple moving average of $31.76. Blackstone Secured Lending Fund has a 12 month low of $25.89 and a 12 month high of $34.64.

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 analysts' expectations of $346.52 million. Blackstone Secured Lending Fund had a return on equity of 13.15% and a net margin of 53.91%. As a group, analysts anticipate that Blackstone Secured Lending Fund will post 3.54 EPS for the current year.

Blackstone Secured Lending Fund Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Monday, March 31st were paid a $0.77 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $3.08 annualized dividend and a yield of 10.40%. Blackstone Secured Lending Fund's payout ratio is 88.76%.

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).