Shares of Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) have earned an average rating of "Hold" from the ten ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $24.7778.
Several equities analysts have recently commented on the stock. B. Riley Financial dropped their target price on shares of Blackstone Secured Lending Fund from $24.50 to $23.50 and set a "neutral" rating for the company in a research report on Tuesday, May 12th. Truist Financial decreased their price target on shares of Blackstone Secured Lending Fund from $30.00 to $26.00 and set a "buy" rating on the stock in a report on Tuesday, May 19th. JPMorgan Chase & Co. lowered their target price on Blackstone Secured Lending Fund from $24.00 to $23.00 and set an "overweight" rating for the company in a report on Thursday, July 2nd. Zacks Research upgraded shares of Blackstone Secured Lending Fund from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 5th. Finally, Oppenheimer started coverage on Blackstone Secured Lending Fund in a research report on Thursday, July 23rd. They set a "market perform" rating and a $25.00 price objective for the company.
Check Out Our Latest Research Report on Blackstone Secured Lending Fund
Blackstone Secured Lending Fund Stock Performance
BXSL stock opened at $24.59 on Thursday. The company's 50-day simple moving average is $23.74 and its 200 day simple moving average is $23.95. Blackstone Secured Lending Fund has a 52 week low of $22.47 and a 52 week high of $30.20. The company has a market capitalization of $5.73 billion, a PE ratio of 19.37 and a beta of 0.38.
Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.66 by $0.09. The company had revenue of $233.30 million for the quarter, compared to analysts' expectations of $326.72 million. Blackstone Secured Lending Fund had a net margin of 21.51% and a return on equity of 11.86%. On average, analysts forecast that Blackstone Secured Lending Fund will post 2.83 EPS for the current year.
Blackstone Secured Lending Fund Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Wednesday, September 30th will be given a $0.77 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $3.08 annualized dividend and a dividend yield of 12.5%. Blackstone Secured Lending Fund's dividend payout ratio (DPR) is 242.52%.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of the stock. Strs Ohio bought a new stake in Blackstone Secured Lending Fund during the 1st quarter valued at $94,760,000. Van ECK Associates Corp lifted its position in shares of Blackstone Secured Lending Fund by 112.1% during the 4th quarter. Van ECK Associates Corp now owns 5,149,915 shares of the company's stock worth $135,597,000 after buying an additional 2,721,843 shares in the last quarter. UBS Group AG boosted its position in Blackstone Secured Lending Fund by 112.5% in the fourth quarter. UBS Group AG now owns 4,731,343 shares of the company's stock worth $124,576,000 after purchasing an additional 2,504,617 shares during the last quarter. Quantum Portfolio Management LLC purchased a new position in shares of Blackstone Secured Lending Fund in the 1st quarter worth about $38,000. Finally, Bank of America Corp DE boosted its stake in Blackstone Secured Lending Fund by 11.9% in the second quarter. Bank of America Corp DE now owns 7,820,346 shares of the company's stock valued at $240,476,000 after acquiring an additional 832,179 shares during the last quarter. Institutional investors and hedge funds own 36.49% of the company's stock.
About Blackstone Secured Lending Fund
(
Get Free Report)
Blackstone Secured Lending Fund NYSE: BXSL is a closed-end management investment company sponsored by Blackstone Credit, the credit-oriented business of Blackstone Inc Launched in May 2020, BXSL seeks to deliver attractive risk-adjusted returns primarily through current income and, to a lesser extent, capital appreciation. The fund raises capital from institutional and retail investors and deploys it into a diversified portfolio of senior secured loans and other credit instruments.
The fund’s principal investment focus is on first-lien senior secured loans and unitranche debt extended to middle-market companies across North America.
Further Reading
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