Blackstone Secured Lending Fund (NYSE:BXSL) Stock Has Consensus Price Target of $24.89 According to Brokerages

Key Points

• Analyst consensus on BXSL is “Hold.” Of 12 covering firms, seven recommend holding, four recommend buying, and one recommends selling; the average 12-month price target is $24.89 versus a recent price of $23.66.
• Institutional ownership has increased. Hedge funds and other institutional investors own 36.49% of the stock, with several firms recently initiating or expanding positions.
• BXSL reported mixed financial results but offers a high dividend yield. Quarterly EPS of $0.75 exceeded estimates, while revenue came in below expectations; the company paid a $0.77 quarterly dividend, equivalent to a 13.0% annualized yield.

Shares of Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) have been assigned an average rating of "Hold" from the twelve research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $24.89.

BXSL has been the subject of several recent analyst reports. Zacks Research upgraded shares of Blackstone Secured Lending Fund from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 5th. UBS Group boosted their target price on shares of Blackstone Secured Lending Fund from $24.50 to $25.50 and gave the company a "neutral" rating in a research note on Tuesday, September 1st. Citizens Jmp began coverage on shares of Blackstone Secured Lending Fund in a research note on Monday, October 26th. They set a "market perform" rating on the stock. Oppenheimer assumed coverage on Blackstone Secured Lending Fund in a report on Thursday, July 23rd. They issued a "market perform" rating and a $25.00 target price for the company. Finally, Wall Street Zen raised Blackstone Secured Lending Fund from a "sell" rating to a "hold" rating in a research report on Saturday, July 18th.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Institutional investors and hedge funds have recently modified their holdings of the stock. Quantum Portfolio Management LLC bought a new position in shares of Blackstone Secured Lending Fund during the 1st quarter valued at $38,000. OMERS ADMINISTRATION Corp boosted its holdings in Blackstone Secured Lending Fund by 17.3% in the first quarter. OMERS ADMINISTRATION Corp now owns 2,216,715 shares of the company's stock worth $52,514,000 after purchasing an additional 326,366 shares in the last quarter. Rivernorth Capital Management LLC acquired a new position in Blackstone Secured Lending Fund during the first quarter worth $5,787,000. Generali Asset Management SPA SGR increased its position in Blackstone Secured Lending Fund by 5.9% during the third quarter. Generali Asset Management SPA SGR now owns 2,755,004 shares of the company's stock worth $66,065,000 after buying an additional 152,410 shares during the last quarter. Finally, Independent Financial Group LLC bought a new position in Blackstone Secured Lending Fund during the first quarter valued at about $1,902,000. 36.49% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Secured Lending Fund Price Performance

Shares of NYSE:BXSL opened at $23.66 on Tuesday. The stock has a market cap of $5.51 billion, a price-to-earnings ratio of 18.63 and a beta of 0.39. Blackstone Secured Lending Fund has a 12 month low of $22.47 and a 12 month high of $28.59. The stock's 50 day moving average price is $24.20 and its 200 day moving average price is $24.15.

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.09. The business had revenue of $320.47 million during the quarter, compared to analyst estimates of $326.72 million. Blackstone Secured Lending Fund had a return on equity of 11.86% and a net margin of 21.51%. On average, sell-side analysts expect that Blackstone Secured Lending Fund will post 2.85 EPS for the current year.

Blackstone Secured Lending Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 23rd. Shareholders of record on Wednesday, September 30th were paid a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 13.0%. The ex-dividend date was Wednesday, September 30th. Blackstone Secured Lending Fund's dividend payout ratio is currently 242.52%.

About Blackstone Secured Lending Fund

Blackstone Secured Lending Fund NYSE: BXSL is a business development company that invests in privately owned middle-market companies. The fund seeks to generate current income and long-term capital appreciation primarily through investments in senior secured, floating-rate loans.

BXSL's portfolio may also include second-lien loans, unsecured debt and equity investments. Its investments are generally made in companies across a range of industries, with an emphasis on businesses that have established operations and cash flows.

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