Blackstone Secured Lending Fund (NYSE:BXSL) Sets New 12-Month Low - Time to Sell?

Key Points

• Blackstone Secured Lending Fund (NYSE:BXSL) reached a new 12-month low at $25.85, with shares trading down from a previous close of $26.05 and a volume of over 1.4 million shares.
• Recent analyst ratings indicate mixed sentiments, with UBS setting a "neutral" position and others like B. Riley rating it "buy", but Wall Street Zen downgraded it to "sell".
• The fund announced a quarterly dividend of $0.77 per share, reflecting an annual yield of 11.8%, despite a payout ratio exceeding 100% at 108.45%.

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report)'s share price reached a new 52-week low on Tuesday . The stock traded as low as $25.85 and last traded at $25.88, with a volume of 1420157 shares changing hands. The stock had previously closed at $26.05.

Analyst Ratings Changes

Several research firms have recently weighed in on BXSL. UBS Group began coverage on shares of Blackstone Secured Lending Fund in a research report on Thursday, September 11th. They set a "neutral" rating and a $31.00 price objective on the stock. Royal Bank Of Canada lowered their price objective on shares of Blackstone Secured Lending Fund from $33.00 to $32.00 and set an "outperform" rating on the stock in a research report on Thursday, September 4th. B. Riley began coverage on shares of Blackstone Secured Lending Fund in a research report on Thursday, September 25th. They set a "buy" rating and a $32.00 price objective on the stock. Wall Street Zen cut shares of Blackstone Secured Lending Fund from a "hold" rating to a "sell" rating in a research report on Saturday, September 13th. Finally, Wells Fargo & Company lifted their target price on shares of Blackstone Secured Lending Fund from $27.00 to $28.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 7th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $31.41.

Blackstone Secured Lending Fund Trading Down 0.1%

The business's fifty day simple moving average is $29.67 and its 200-day simple moving average is $30.47. The firm has a market cap of $5.99 billion, a P/E ratio of 9.16 and a beta of 0.45.

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

Blackstone Secured Lending Fund Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 11.8%. Blackstone Secured Lending Fund's payout ratio is presently 108.45%.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

Large investors have recently modified their holdings of the stock. Wealth Preservation Advisors LLC bought a new stake in shares of Blackstone Secured Lending Fund during the 1st quarter valued at about $30,000. Evolution Wealth Management Inc. bought a new position in shares of Blackstone Secured Lending Fund in the second quarter worth approximately $37,000. Northwestern Mutual Wealth Management Co. lifted its stake 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 buying an additional 395 shares in the last quarter. Spire Wealth Management lifted its stake in shares of Blackstone Secured Lending Fund by 109.6% in the second quarter. Spire Wealth Management now owns 1,467 shares of the company's stock worth $45,000 after buying an additional 767 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new position in shares of Blackstone Secured Lending Fund in the fourth quarter worth approximately $60,000. Institutional investors own 36.49% of the company's stock.

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.