Brokerages Set Blackstone Secured Lending Fund (NYSE:BXSL) Target Price at $31.38

Shares of Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the six analysts that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $31.38.

BXSL has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Blackstone Secured Lending Fund from $33.50 to $30.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Keefe, Bruyette & Woods dropped 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 report on Tuesday, April 8th. Wells Fargo & Company decreased their price target on Blackstone Secured Lending Fund from $29.00 to $27.00 and set an "equal weight" rating for the company in a research note on Thursday, May 8th. Finally, Truist Financial lifted their price target on Blackstone Secured Lending Fund from $33.00 to $35.00 and gave the company a "buy" rating in a research report on Thursday, February 27th.

Blackstone Secured Lending Fund Stock Up 2.1%

Blackstone Secured Lending Fund stock traded up $0.65 during mid-day trading on Friday, hitting $31.94. 1,003,976 shares of the company's stock traded hands, compared to its average volume of 1,047,792. Blackstone Secured Lending Fund has a one year low of $25.89 and a one year high of $34.64. The firm has a 50 day moving average price of $30.27 and a 200 day moving average price of $31.74. The company has a market cap of $7.28 billion, a PE ratio of 8.87 and a beta of 0.44.

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.82 by $0.01. The business had revenue of $357.76 million for the quarter, compared to analysts' expectations of $358.40 million. Blackstone Secured Lending Fund had a net margin of 53.91% and a return on equity of 13.15%. 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, July 25th. Investors of record on Monday, June 30th will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 9.64%. The ex-dividend date of this dividend is Monday, June 30th. Blackstone Secured Lending Fund's dividend payout ratio is presently 97.16%.

Insider Buying and Selling at Blackstone Secured Lending Fund

In related news, insider Robert J. Bass acquired 1,626 shares of Blackstone Secured Lending Fund stock in a transaction dated Tuesday, May 13th. The stock was acquired at an average cost of $30.78 per share, with a total value of $50,048.28. Following the purchase, the insider now directly owns 17,403 shares in the company, valued at $535,664.34. The trade was a 10.31% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.12% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

A number of institutional investors and hedge funds have recently modified their holdings of BXSL. Beacon Capital Management LLC increased its stake in Blackstone Secured Lending Fund by 200.0% in the 4th quarter. Beacon Capital Management LLC now owns 900 shares of the company's stock worth $29,000 after purchasing an additional 600 shares in the last quarter. Wealth Preservation Advisors LLC acquired a new position in shares of Blackstone Secured Lending Fund in the first quarter worth about $30,000. MassMutual Private Wealth & Trust FSB acquired a new position in shares of Blackstone Secured Lending Fund in the fourth quarter worth about $31,000. CKW Financial Group purchased a new position in shares of Blackstone Secured Lending Fund in the fourth quarter worth approximately $32,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Blackstone Secured Lending Fund by 45.1% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,270 shares of the company's stock worth $41,000 after acquiring an additional 395 shares in the last quarter. 36.49% of the stock is owned by institutional investors and hedge funds.

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).