JPMorgan Chase & Co. Cuts Blackstone Secured Lending Fund (NYSE:BXSL) Price Target to $29.00

Key Points

• JPMorgan Chase & Co. has reduced the price target for the Blackstone Secured Lending Fund (NYSE:BXSL) from $30.50 to $29.00, while maintaining an "overweight" rating on the stock.
• The Blackstone Secured Lending Fund currently has a consensus rating of "Moderate Buy" and an average price target of $31.28, with 5 analysts rating it as a Buy and 3 as Hold.
• During recent trading, BXSL stock fell $0.26 to $25.82, with a market capitalization of $5.94 billion and a PE ratio of 9.09.

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) had its price objective lowered by equities research analysts at JPMorgan Chase & Co. from $30.50 to $29.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 12.34% from the stock's current price.

Other equities research analysts have also recently issued reports about the company. UBS Group began coverage on Blackstone Secured Lending Fund in a research note on Thursday, September 11th. They issued a "neutral" rating and a $31.00 price target for the company. Wall Street Zen lowered Blackstone Secured Lending Fund from a "hold" rating to a "sell" rating in a report on Saturday, September 13th. B. Riley began coverage on Blackstone Secured Lending Fund in a research note on Thursday, September 25th. They issued a "buy" rating and a $32.00 price target for the company. Wells Fargo & Company increased their price objective on shares of Blackstone Secured Lending Fund from $27.00 to $28.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 7th. Finally, Royal Bank Of Canada dropped their target price on shares of Blackstone Secured Lending Fund from $33.00 to $32.00 and set an "outperform" rating for the company in a research report on Thursday, September 4th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Blackstone Secured Lending Fund currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.28.

Blackstone Secured Lending Fund Price Performance

BXSL stock traded down $0.26 during trading hours on Wednesday, reaching $25.82. The stock had a trading volume of 815,334 shares, compared to its average volume of 1,224,967. Blackstone Secured Lending Fund has a fifty-two week low of $25.76 and a fifty-two week high of $34.64. The stock has a market capitalization of $5.94 billion, a PE ratio of 9.09 and a beta of 0.45. The stock has a 50-day simple moving average of $29.55 and a 200 day simple moving average of $30.44.

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.77 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.04). The company had revenue of $344.80 million during the quarter, compared to analyst estimates of $353.55 million. Blackstone Secured Lending Fund had a net margin of 44.25% and a return on equity of 12.07%. On average, sell-side analysts forecast that Blackstone Secured Lending Fund will post 3.54 EPS for the current fiscal year.

Institutional Trading of Blackstone Secured Lending Fund

A number of large investors have recently bought and sold shares of BXSL. Fiduciary Alliance LLC acquired a new position in Blackstone Secured Lending Fund in the first quarter valued at approximately $324,000. Amplius Wealth Advisors LLC raised its holdings in shares of Blackstone Secured Lending Fund by 2.4% in the first quarter. Amplius Wealth Advisors LLC now owns 511,802 shares of the company's stock valued at $16,562,000 after purchasing an additional 11,920 shares during the last quarter. Magnus Financial Group LLC lifted its position in shares of Blackstone Secured Lending Fund by 14.5% during the first quarter. Magnus Financial Group LLC now owns 29,722 shares of the company's stock valued at $962,000 after purchasing an additional 3,754 shares in the last quarter. SeaCrest Wealth Management LLC boosted its holdings in Blackstone Secured Lending Fund by 40.7% during the first quarter. SeaCrest Wealth Management LLC now owns 9,152 shares of the company's stock worth $296,000 after purchasing an additional 2,649 shares during the last quarter. Finally, Wealthcare Capital Partners LLC purchased a new stake in Blackstone Secured Lending Fund in the 1st quarter valued at about $511,000. 36.49% of the stock is currently owned by institutional investors and hedge funds.

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).

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