Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) was up 1.3% during mid-day trading on Thursday . The company traded as high as $31.63 and last traded at $31.52. Approximately 960,717 shares changed hands during mid-day trading, a decline of 9% from the average daily volume of 1,050,436 shares. The stock had previously closed at $31.11.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on BXSL shares. Keefe, Bruyette & Woods decreased 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. JPMorgan Chase & Co. decreased their target price on Blackstone Secured Lending Fund from $33.50 to $30.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Finally, Wells Fargo & Company decreased their target price on Blackstone Secured Lending Fund from $29.00 to $27.00 and set an "equal weight" rating for the company in a research report on Thursday, May 8th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $31.38.
Read Our Latest Report on Blackstone Secured Lending Fund
Blackstone Secured Lending Fund Trading Up 0.5%
The company has a 50 day simple moving average of $31.24 and a 200 day simple moving average of $31.64. The stock has a market capitalization of $7.32 billion, a PE ratio of 10.05 and a beta of 0.46.
Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.82 by $0.01. The firm had revenue of $357.76 million during the quarter, compared to the consensus estimate of $358.40 million. Blackstone Secured Lending Fund had a return on equity of 12.49% and a net margin of 47.80%. On average, equities research analysts predict that Blackstone Secured Lending Fund will post 3.54 EPS for the current year.
Blackstone Secured Lending Fund Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 9.67%. The ex-dividend date is Monday, June 30th. Blackstone Secured Lending Fund's dividend payout ratio (DPR) is 97.16%.
Insider Activity
In other Blackstone Secured Lending Fund news, insider Robert J. Bass bought 1,626 shares of the business's 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 owned 17,403 shares in the company, valued at approximately $535,664.34. This represents a 10.31% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.10% of the company's stock.
Hedge Funds Weigh In On Blackstone Secured Lending Fund
Large investors have recently modified their holdings of the business. Bank of New York Mellon Corp increased its stake in Blackstone Secured Lending Fund by 93.5% in the 4th quarter. Bank of New York Mellon Corp now owns 38,613 shares of the company's stock valued at $1,248,000 after purchasing an additional 18,655 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Blackstone Secured Lending Fund in the 4th quarter valued at approximately $21,255,000. Commonwealth Equity Services LLC increased its stake in Blackstone Secured Lending Fund by 31.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 40,883 shares of the company's stock valued at $1,321,000 after purchasing an additional 9,777 shares in the last quarter. Diversified Enterprises LLC purchased a new position in Blackstone Secured Lending Fund in the 4th quarter valued at approximately $292,000. Finally, Ascent Capital Management LLC purchased a new position in Blackstone Secured Lending Fund in the 4th quarter valued at approximately $518,000. 36.49% of the stock is owned by hedge funds and other institutional investors.
About Blackstone Secured Lending Fund
(
Get Free Report)
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).
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