Blackstone Secured Lending Fund (NYSE:BXSL) Now Covered by UBS Group

Key Points

• UBS Group has initiated coverage on Blackstone Secured Lending Fund (BXSL) with a "neutral" rating and a price target of $31.00, indicating a potential upside of 7.80% from the previous close.
• Blackstone Secured Lending Fund reported earnings of $0.77 per share, missing analysts’ estimates, with a revenue of $344.80 million compared to the consensus estimate of $353.55 million.
• The fund has garnered a consensus rating of "Moderate Buy" from analysts, with four analysts rating it as a Buy and three as a Hold, supporting a consensus target price of $31.32.

Stock analysts at UBS Group started coverage on shares of Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) in a research note issued on Thursday. The firm set a "neutral" rating and a $31.00 price target on the stock. UBS Group's target price points to a potential upside of 7.80% from the company's previous close.

BXSL has been the topic of a number of other research reports. Royal Bank Of Canada reduced their target price on Blackstone Secured Lending Fund from $33.00 to $32.00 and set an "outperform" rating on the stock in a research note on Thursday, September 4th. Wells Fargo & Company increased their target price on Blackstone Secured Lending Fund from $27.00 to $28.00 and gave the company an "equal weight" rating in a research note on Thursday, August 7th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Blackstone Secured Lending Fund currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.32.

Blackstone Secured Lending Fund Stock Performance

Blackstone Secured Lending Fund stock opened at $28.76 on Thursday. The stock has a market cap of $6.62 billion, a P/E ratio of 10.13 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 firm's fifty day moving average price is $30.73 and its 200-day moving average price is $30.98.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Wealth Preservation Advisors LLC bought a new stake in Blackstone Secured Lending Fund during the 1st quarter valued at approximately $30,000. Evolution Wealth Management Inc. bought a new position in shares of Blackstone Secured Lending Fund during the 2nd quarter valued at about $37,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Blackstone Secured Lending Fund by 45.1% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,270 shares of the company's stock valued at $41,000 after purchasing an additional 395 shares during the last quarter. Spire Wealth Management lifted its holdings in shares of Blackstone Secured Lending Fund by 109.6% in the 2nd quarter. Spire Wealth Management now owns 1,467 shares of the company's stock valued at $45,000 after acquiring an additional 767 shares during the last quarter. Finally, Ameriflex Group Inc. bought a new position in shares of Blackstone Secured Lending Fund in the 4th quarter valued at about $55,000. 36.49% of the stock is owned by 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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.