Blackstone Secured Lending Fund (NYSE:BXSL) Trading Up 1.3% - Should You Buy?

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report)'s share price was up 1.3% on Thursday . The stock traded as high as $31.63 and last traded at $31.52. Approximately 960,717 shares were traded 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.

Wall Street Analyst Weigh In

Several research analysts have commented on BXSL shares. JPMorgan Chase & Co. dropped their price objective on shares of Blackstone Secured Lending Fund from $33.50 to $30.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Keefe, Bruyette & Woods dropped their price objective on shares of Blackstone Secured Lending Fund from $32.00 to $31.00 and set a "market perform" rating for the company in a report on Tuesday, April 8th. Finally, Wells Fargo & Company dropped their price objective on shares of Blackstone Secured Lending Fund from $29.00 to $27.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $31.38.

Blackstone Secured Lending Fund Price Performance

The firm has a market capitalization of $7.24 billion, a PE ratio of 9.94 and a beta of 0.46. The stock's 50-day moving average price is $31.20 and its 200 day moving average price is $31.67.

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) last announced its 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. 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 return on equity of 12.49% and a net margin of 47.80%. Equities research analysts forecast that Blackstone Secured Lending Fund will post 3.54 earnings per share for the current fiscal year.

Blackstone Secured Lending Fund Announces Dividend

The company 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 $0.77 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.08 dividend on an annualized basis and a yield of 9.77%. Blackstone Secured Lending Fund's dividend payout ratio (DPR) is 97.16%.

Insider Transactions 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 on Tuesday, May 13th. The stock was acquired at an average price of $30.78 per share, for a total transaction of $50,048.28. Following the purchase, the insider owned 17,403 shares of the company's stock, valued at approximately $535,664.34. This represents a 10.31% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Institutional investors and hedge funds have recently modified their holdings of the business. CWC Advisors LLC. increased its stake in Blackstone Secured Lending Fund by 2.7% during the 2nd quarter. CWC Advisors LLC. now owns 160,104 shares of the company's stock worth $4,923,000 after buying an additional 4,284 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Blackstone Secured Lending Fund by 2.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 45,752 shares of the company's stock worth $1,427,000 after buying an additional 1,177 shares in the last quarter. Pallas Capital Advisors LLC increased its stake in Blackstone Secured Lending Fund by 2.0% during the 2nd quarter. Pallas Capital Advisors LLC now owns 149,005 shares of the company's stock worth $4,582,000 after buying an additional 2,903 shares in the last quarter. Confluence Investment Management LLC increased its stake in Blackstone Secured Lending Fund by 147.1% during the 2nd quarter. Confluence Investment Management LLC now owns 185,700 shares of the company's stock worth $5,710,000 after buying an additional 110,546 shares in the last quarter. Finally, Advisors Capital Management LLC increased its stake in Blackstone Secured Lending Fund by 34.9% during the 1st quarter. Advisors Capital Management LLC now owns 728,890 shares of the company's stock worth $23,587,000 after buying an additional 188,523 shares in the last quarter. Hedge funds and other 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).

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