B. Riley Initiates Coverage on Blackstone Secured Lending Fund (NYSE:BXSL)

Key Points

• Blackstone Secured Lending Fund (NYSE:BXSL) has been upgraded to a "strong-buy" rating by investment analysts at B. Riley.
• Despite the upgrade, Wall Street Zen recently downgraded the stock from a "hold" to a "sell" rating, indicating mixed analyst sentiment.
• The stock has an average price target of $31.41 and a consensus rating of "Moderate Buy" based on recent analyst ratings.

Investment analysts at B. Riley began coverage on shares of Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. The brokerage set a "buy" rating on the stock.

A number of other analysts also recently commented on the company. UBS Group initiated coverage on Blackstone Secured Lending Fund in a research report on Thursday, September 11th. They issued a "neutral" rating and a $31.00 price objective for the company. Wells Fargo & Company upped their target price on Blackstone Secured Lending Fund from $27.00 to $28.00 and gave the company an "equal weight" rating in a research note on Thursday, August 7th. Wall Street Zen lowered shares of Blackstone Secured Lending Fund from a "hold" rating to a "sell" rating in a report on Saturday, September 13th. Finally, Royal Bank Of Canada lowered their price target on shares of Blackstone Secured Lending Fund from $33.00 to $32.00 and set an "outperform" rating on the stock in a report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, Blackstone Secured Lending Fund currently has an average rating of "Moderate Buy" and an average target price of $31.41.

Blackstone Secured Lending Fund Price Performance

NYSE:BXSL opened at $27.30 on Wednesday. The company has a fifty day moving average price of $29.88 and a 200 day moving average price of $30.56. Blackstone Secured Lending Fund has a one year low of $25.89 and a one year high of $34.64. The stock has a market cap of $6.29 billion, a P/E ratio of 9.61 and a beta of 0.45.

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

Institutional Trading of Blackstone Secured Lending Fund

Several hedge funds have recently modified their holdings of the company. Bank of America Corp DE increased its holdings in shares of Blackstone Secured Lending Fund by 11.9% during the second quarter. Bank of America Corp DE now owns 7,820,346 shares of the company's stock worth $240,476,000 after buying an additional 832,179 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in Blackstone Secured Lending Fund by 3.8% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 4,260,951 shares of the company's stock worth $131,024,000 after acquiring an additional 156,680 shares during the last quarter. Northeast Financial Consultants Inc grew its position in Blackstone Secured Lending Fund by 6.9% during the 2nd quarter. Northeast Financial Consultants Inc now owns 3,359,523 shares of the company's stock worth $103,305,000 after acquiring an additional 216,835 shares during the last quarter. CCLA Investment Management boosted its stake in Blackstone Secured Lending Fund by 54.1% in the first quarter. CCLA Investment Management now owns 3,214,583 shares of the company's stock worth $104,023,000 after purchasing an additional 1,128,986 shares in the last quarter. Finally, Generali Asset Management SPA SGR boosted its stake in Blackstone Secured Lending Fund by 2.0% in the second quarter. Generali Asset Management SPA SGR now owns 2,011,704 shares of the company's stock worth $61,860,000 after purchasing an additional 39,300 shares in the last quarter. Institutional investors and hedge funds 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).