Blackstone Secured Lending Fund (NYSE:BXSL) Shares Down 1.6% - Should You Sell?

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report)'s share price fell 1.6% during trading on Monday . The stock traded as low as $31.07 and last traded at $31.11. 989,437 shares were traded during trading, a decline of 6% from the average session volume of 1,050,237 shares. The stock had previously closed at $31.63.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced 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 research note on Thursday, April 24th. Keefe, Bruyette & Woods cut 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 report on Tuesday, April 8th. Truist Financial increased their price target 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, Wells Fargo & Company dropped their price objective on Blackstone Secured Lending Fund from $29.00 to $27.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Blackstone Secured Lending Fund currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.38.

Blackstone Secured Lending Fund Trading Down 0.8%

The firm has a market capitalization of $7.13 billion, a P/E ratio of 9.85 and a beta of 0.47. The business's fifty day moving average is $30.53 and its 200 day moving average is $31.76.

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.01. Blackstone Secured Lending Fund had a return on equity of 12.49% and a net margin of 47.80%. The company had revenue of $357.76 million for the quarter, compared to analysts' expectations of $358.40 million. As a group, sell-side analysts predict that Blackstone Secured Lending Fund will post 3.54 earnings per share for the current fiscal year.

Blackstone Secured Lending Fund Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, June 30th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 9.86%. The ex-dividend date of this dividend is Monday, June 30th. Blackstone Secured Lending Fund's dividend payout ratio (DPR) is presently 97.16%.

Insider Activity at Blackstone Secured Lending Fund

In other news, insider Robert J. Bass acquired 1,626 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was purchased at an average price of $30.78 per share, with a total value of $50,048.28. Following the purchase, the insider now owns 17,403 shares of the company's stock, valued at approximately $535,664.34. This trade represents a 10.31% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.12% of the stock is currently owned by corporate insiders.

Institutional Trading of Blackstone Secured Lending Fund

A number of hedge funds have recently modified their holdings of BXSL. LaFleur & Godfrey LLC raised its position in Blackstone Secured Lending Fund by 64.3% during the fourth quarter. LaFleur & Godfrey LLC now owns 131,090 shares of the company's stock valued at $4,236,000 after buying an additional 51,305 shares during the period. Empowered Funds LLC purchased a new position in Blackstone Secured Lending Fund during the 4th quarter valued at about $247,000. Sanctuary Advisors LLC increased its holdings in shares of Blackstone Secured Lending Fund by 81.4% in the 4th quarter. Sanctuary Advisors LLC now owns 251,294 shares of the company's stock valued at $8,313,000 after purchasing an additional 112,775 shares during the period. Atria Wealth Solutions Inc. lifted its position in shares of Blackstone Secured Lending Fund by 583.9% in the fourth quarter. Atria Wealth Solutions Inc. now owns 61,383 shares of the company's stock worth $1,983,000 after purchasing an additional 52,407 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC lifted its position in shares of Blackstone Secured Lending Fund by 13.9% in the fourth quarter. Cassaday & Co Wealth Management LLC now owns 16,645 shares of the company's stock worth $538,000 after purchasing an additional 2,032 shares in the last quarter. Hedge funds and other institutional investors own 36.49% of the company's stock.

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).