Wells Fargo & Company Has Lowered Expectations for Blackstone Secured Lending Fund (NYSE:BXSL) Stock Price

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) had its price target dropped by equities research analysts at Wells Fargo & Company from $31.00 to $29.00 in a report issued on Monday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective would indicate a potential downside of 3.11% from the company's current price.

A number of other research firms also recently issued reports on BXSL. Keefe, Bruyette & Woods cut their price target on Blackstone Secured Lending Fund from $32.00 to $31.00 and set a "market perform" rating for the company in a research note on Tuesday, April 8th. Truist Financial lifted their target price on Blackstone Secured Lending Fund from $33.00 to $35.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Finally, JPMorgan Chase & Co. lowered their price target on Blackstone Secured Lending Fund from $33.50 to $30.00 and set an "overweight" rating for the company in a research report on Thursday. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $31.71.

Blackstone Secured Lending Fund Trading Up 1.0 %

BXSL stock traded up $0.29 during trading on Monday, reaching $29.93. 65,558 shares of the stock were exchanged, compared to its average volume of 1,285,893. Blackstone Secured Lending Fund has a twelve month low of $25.89 and a twelve month high of $34.64. The firm's 50 day moving average is $31.35 and its 200 day moving average is $31.80. The firm has a market cap of $6.82 billion, a P/E ratio of 8.31 and a beta of 0.43.

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 (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.02). Blackstone Secured Lending Fund had a net margin of 53.91% and a return on equity of 13.15%. The business had revenue of $353.00 million during the quarter, compared to analyst estimates of $346.52 million. As a group, analysts predict that Blackstone Secured Lending Fund will post 3.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BXSL. Tidal Investments LLC increased its position in shares of Blackstone Secured Lending Fund by 2.3% during the 4th quarter. Tidal Investments LLC now owns 14,280 shares of the company's stock valued at $461,000 after purchasing an additional 320 shares during the last quarter. CIBC Private Wealth Group LLC raised its position in Blackstone Secured Lending Fund by 1.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 20,189 shares of the company's stock worth $644,000 after acquiring an additional 325 shares during the period. Delphi Management Inc. MA boosted its stake in Blackstone Secured Lending Fund by 0.7% in the fourth quarter. Delphi Management Inc. MA now owns 47,745 shares of the company's stock valued at $1,543,000 after acquiring an additional 330 shares during the last quarter. Wealthspire Advisors LLC grew its position in shares of Blackstone Secured Lending Fund by 1.9% during the 4th quarter. Wealthspire Advisors LLC now owns 19,232 shares of the company's stock valued at $621,000 after acquiring an additional 350 shares during the period. Finally, Investment Partners Asset Management Inc. increased its stake in shares of Blackstone Secured Lending Fund by 2.0% during the 1st quarter. Investment Partners Asset Management Inc. now owns 19,710 shares of the company's stock worth $638,000 after purchasing an additional 381 shares during the last quarter. Hedge funds and other institutional investors own 36.49% of the company's stock.

About Blackstone Secured Lending Fund

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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