Blackstone Secured Lending Fund (NYSE:BXSL) Receives $31.54 Consensus Target Price from Analysts

Key Points

• The Blackstone Secured Lending Fund (NYSE:BXSL) has a consensus rating of “Moderate Buy” from six analysts, with an average price target of $31.54.
• Insider Robert J. Bass purchased 1,626 shares at an average price of $30.78, increasing his ownership by 10.31% to a total of 17,403 shares.
• The firm announced a quarterly dividend of $0.77, translating to an annual yield of 10.1%, with a payout ratio currently at 108.45%.

Shares of Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) have received an average rating of "Moderate Buy" from the six ratings firms that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $31.5417.

Several analysts recently commented on BXSL shares. Wells Fargo & Company raised their price target on shares of Blackstone Secured Lending Fund from $27.00 to $28.00 and gave the stock an "equal weight" rating in a report on Thursday. JPMorgan Chase & Co. decreased their price target on shares of Blackstone Secured Lending Fund from $33.50 to $30.00 and set an "overweight" rating for the company in a report on Thursday, April 24th.

Insider Transactions at Blackstone Secured Lending Fund

In other Blackstone Secured Lending Fund news, insider Robert J. Bass bought 1,626 shares of Blackstone Secured Lending Fund stock in a transaction on Tuesday, May 13th. The stock was purchased at an average cost of $30.78 per share, for a total transaction of $50,048.28. Following the completion of the purchase, the insider directly owned 17,403 shares of the company's stock, valued at $535,664.34. The trade was a 10.31% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.10% of the stock is owned by company insiders.

Institutional Trading of Blackstone Secured Lending Fund

A number of institutional investors have recently added to or reduced their stakes in the business. Nomura Asset Management Co. Ltd. raised its position in shares of Blackstone Secured Lending Fund by 3.8% in the second quarter. Nomura Asset Management Co. Ltd. now owns 4,260,951 shares of the company's stock valued at $131,024,000 after purchasing an additional 156,680 shares during the period. Hedeker Wealth LLC raised its position in shares of Blackstone Secured Lending Fund by 0.7% in the second quarter. Hedeker Wealth LLC now owns 80,996 shares of the company's stock valued at $2,491,000 after purchasing an additional 532 shares during the period. Cetera Investment Advisers raised its position in shares of Blackstone Secured Lending Fund by 63.6% in the second quarter. Cetera Investment Advisers now owns 336,127 shares of the company's stock valued at $10,336,000 after purchasing an additional 130,702 shares during the period. Foundations Investment Advisors LLC bought a new position in shares of Blackstone Secured Lending Fund in the second quarter valued at approximately $259,000. Finally, CFO4Life Group LLC raised its position in shares of Blackstone Secured Lending Fund by 1.1% in the second quarter. CFO4Life Group LLC now owns 62,903 shares of the company's stock valued at $1,934,000 after purchasing an additional 688 shares during the period. 36.49% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Secured Lending Fund Trading Down 0.7%

Shares of BXSL traded down $0.22 during midday trading on Friday, hitting $30.33. The stock had a trading volume of 189,345 shares, compared to its average volume of 1,083,600. 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 simple moving average of $31.51 and a two-hundred day simple moving average of $31.56. The firm has a market cap of $6.98 billion, a P/E ratio of 10.68 and a beta of 0.46.

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

Blackstone Secured Lending Fund Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Tuesday, September 30th will be paid a $0.77 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $3.08 dividend on an annualized basis and a yield of 10.2%. Blackstone Secured Lending Fund's payout ratio is 108.45%.

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).