Blackstone Secured Lending Fund (NYSE:BXSL) Given New $31.00 Price Target at Keefe, Bruyette & Woods

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) had its price target decreased by Keefe, Bruyette & Woods from $32.00 to $31.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' price target points to a potential upside of 11.96% from the company's current price.

BXSL has been the topic of several other research reports. JPMorgan Chase & Co. increased their price target on Blackstone Secured Lending Fund from $33.00 to $33.50 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Wells Fargo & Company boosted their price target on shares of Blackstone Secured Lending Fund from $29.00 to $31.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 29th. Finally, Truist Financial raised their price objective on shares of Blackstone Secured Lending Fund from $33.00 to $35.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $32.63.

Blackstone Secured Lending Fund Stock Performance

Shares of Blackstone Secured Lending Fund stock traded up $0.35 on Tuesday, reaching $27.69. 1,890,735 shares of the company's stock were exchanged, compared to its average volume of 1,041,060. The firm's 50-day moving average is $32.32 and its two-hundred day moving average is $31.84. The company has a market capitalization of $6.31 billion, a P/E ratio of 7.69 and a beta of 0.43. Blackstone Secured Lending Fund has a 52 week low of $25.89 and a 52 week high of $34.64.

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.02). The company had revenue of $353.00 million during the quarter, compared to the consensus estimate of $346.52 million. Blackstone Secured Lending Fund had a net margin of 53.91% and a return on equity of 13.15%. On average, analysts expect that Blackstone Secured Lending Fund will post 3.54 EPS for the current fiscal year.

Institutional Trading of Blackstone Secured Lending Fund

Several institutional investors and hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its stake in Blackstone Secured Lending Fund by 4.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,228 shares of the company's stock valued at $241,000 after buying an additional 382 shares during the last quarter. Quarry LP bought a new stake in Blackstone Secured Lending Fund during the third quarter worth $48,000. Kovitz Investment Group Partners LLC purchased a new position in Blackstone Secured Lending Fund in the third quarter worth $354,000. MML Investors Services LLC grew its stake in Blackstone Secured Lending Fund by 8.3% in the 3rd quarter. MML Investors Services LLC now owns 40,850 shares of the company's stock valued at $1,196,000 after purchasing an additional 3,131 shares during the period. Finally, Sunbelt Securities Inc. increased its position in shares of Blackstone Secured Lending Fund by 0.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 49,442 shares of the company's stock valued at $1,448,000 after purchasing an additional 329 shares during the last quarter. Hedge funds and other institutional investors 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).