Blackstone Secured Lending Fund (NYSE:BXSL) Sets New 1-Year Low - Time to Sell?

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $26.97 and last traded at $27.32, with a volume of 818353 shares changing hands. The stock had previously closed at $29.20.

Wall Street Analyst Weigh In

Several research firms recently commented on BXSL. Wells Fargo & Company upped their price target on shares of Blackstone Secured Lending Fund from $29.00 to $31.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. upped their price objective on Blackstone Secured Lending Fund from $33.00 to $33.50 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Truist Financial raised their price objective on Blackstone Secured Lending Fund from $33.00 to $35.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Finally, Keefe, Bruyette & Woods lowered their target price on Blackstone Secured Lending Fund from $32.00 to $31.00 and set a "market perform" rating for the company in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $32.63.

Blackstone Secured Lending Fund Price Performance

The company has a market cap of $6.31 billion, a PE ratio of 7.69 and a beta of 0.43. The company's fifty day moving average price is $32.32 and its 200 day moving average price is $31.84.

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.02). Blackstone Secured Lending Fund had a net margin of 53.91% and a return on equity of 13.15%. The firm had revenue of $353.00 million for the quarter, compared to the consensus estimate of $346.52 million. On average, analysts forecast that Blackstone Secured Lending Fund will post 3.54 EPS for the current year.

Blackstone Secured Lending Fund Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 31st will be paid a $0.77 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.08 dividend on an annualized basis and a yield of 11.12%. Blackstone Secured Lending Fund's dividend payout ratio is presently 88.76%.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Tidal Investments LLC boosted its position in shares of Blackstone Secured Lending Fund by 2.3% during the fourth quarter. Tidal Investments LLC now owns 14,280 shares of the company's stock valued at $461,000 after purchasing an additional 320 shares in the last quarter. CIBC Private Wealth Group LLC grew its position in Blackstone Secured Lending Fund by 1.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 20,189 shares of the company's stock worth $644,000 after purchasing an additional 325 shares during the period. Delphi Management Inc. MA increased its position in Blackstone Secured Lending Fund by 0.7% during the fourth quarter. Delphi Management Inc. MA now owns 47,745 shares of the company's stock valued at $1,543,000 after acquiring an additional 330 shares during the last quarter. Wealthspire Advisors LLC lifted its holdings in Blackstone Secured Lending Fund by 1.9% in the fourth quarter. Wealthspire Advisors LLC now owns 19,232 shares of the company's stock valued at $621,000 after acquiring an additional 350 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in Blackstone Secured Lending Fund by 4.9% in the third quarter. The Manufacturers Life Insurance Company now owns 8,228 shares of the company's stock worth $241,000 after purchasing an additional 382 shares during the last quarter. 36.49% of the stock is currently owned by hedge funds and other institutional investors.

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).