UBS Group Issues Pessimistic Forecast for Blackstone Secured Lending Fund (NYSE:BXSL) Stock Price

Key Points

• UBS Group cut its target on Blackstone Secured Lending Fund to $24.75 (from $27.50) and kept a "neutral" rating, signaling a cautious near-term outlook with only ~4.6% upside to that target.
• Other brokers have also trimmed targets (RBC, Wells Fargo, BofA, Truist) leaving a mixed consensus—six Buys, two Holds, one Sell—with an average target of $27.09, above the current market price.
• Shares trade around $23.66 (near the 52-week low of $23.30); the fund posted a slight EPS beat ($0.80 vs. $0.79) but a large revenue miss, and carries a market cap of about $5.49B and a P/E of 9.62.

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) had its target price lowered by equities research analysts at UBS Group from $27.50 to $24.75 in a note issued to investors on Friday,Benzinga reports. The firm currently has a "neutral" rating on the stock. UBS Group's target price indicates a potential upside of 4.62% from the stock's previous close.

Several other analysts have also issued reports on the company. Royal Bank Of Canada cut their price target on Blackstone Secured Lending Fund from $29.00 to $28.00 and set an "outperform" rating for the company in a report on Tuesday, March 3rd. Wells Fargo & Company cut Blackstone Secured Lending Fund from an "equal weight" rating to an "underweight" rating and lowered their price objective for the company from $26.00 to $24.00 in a research report on Wednesday, January 7th. Bank of America reduced their target price on shares of Blackstone Secured Lending Fund from $33.50 to $29.00 and set a "buy" rating for the company in a report on Friday, November 28th. Truist Financial decreased their target price on shares of Blackstone Secured Lending Fund from $33.00 to $30.00 and set a "buy" rating on the stock in a research note on Wednesday, March 4th. Finally, Wall Street Zen downgraded shares of Blackstone Secured Lending Fund from a "hold" rating to a "sell" rating in a report on Sunday, March 1st. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $27.09.

Blackstone Secured Lending Fund Trading Down 0.2%

NYSE BXSL traded down $0.05 during trading hours on Friday, hitting $23.66. 3,191,272 shares of the company's stock traded hands, compared to its average volume of 2,496,050. Blackstone Secured Lending Fund has a 52 week low of $23.30 and a 52 week high of $33.73. The firm has a market capitalization of $5.49 billion, a P/E ratio of 9.62 and a beta of 0.43. The business's fifty day moving average price is $25.18 and its two-hundred day moving average price is $26.57.

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.01. The business had revenue of $196.54 million for the quarter, compared to analysts' expectations of $359.59 million. Blackstone Secured Lending Fund had a net margin of 39.69% and a return on equity of 11.82%. On average, sell-side analysts expect that Blackstone Secured Lending Fund will post 3.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Empowered Funds LLC grew its holdings in Blackstone Secured Lending Fund by 139.9% during the 1st quarter. Empowered Funds LLC now owns 18,340 shares of the company's stock valued at $593,000 after buying an additional 10,696 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Blackstone Secured Lending Fund by 40.8% during the 2nd quarter. Bank of Montreal Can now owns 62,232 shares of the company's stock valued at $1,914,000 after acquiring an additional 18,033 shares during the last quarter. Allworth Financial LP boosted its position in shares of Blackstone Secured Lending Fund by 15.6% during the 2nd quarter. Allworth Financial LP now owns 52,958 shares of the company's stock valued at $1,628,000 after acquiring an additional 7,150 shares during the last quarter. Evolution Wealth Advisors LLC grew its holdings in shares of Blackstone Secured Lending Fund by 6.0% in the second quarter. Evolution Wealth Advisors LLC now owns 12,295 shares of the company's stock valued at $378,000 after purchasing an additional 700 shares in the last quarter. Finally, King Wealth Management Group increased its position in Blackstone Secured Lending Fund by 142.9% in the second quarter. King Wealth Management Group now owns 17,000 shares of the company's stock worth $523,000 after purchasing an additional 10,000 shares during the last quarter. 36.49% of the stock is owned by hedge funds and other institutional investors.

Blackstone Secured Lending Fund Company Profile

Blackstone Secured Lending Fund NYSE: BXSL is a closed-end management investment company sponsored by Blackstone Credit, the credit-oriented business of Blackstone Inc Launched in May 2020, BXSL seeks to deliver attractive risk-adjusted returns primarily through current income and, to a lesser extent, capital appreciation. The fund raises capital from institutional and retail investors and deploys it into a diversified portfolio of senior secured loans and other credit instruments.

The fund’s principal investment focus is on first-lien senior secured loans and unitranche debt extended to middle-market companies across North America.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.