Blackstone Secured Lending Fund (NYSE:BXSL) Price Target Cut to $29.00 by Analysts at Wells Fargo & Company

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) had its target price dropped by stock analysts at Wells Fargo & Company from $31.00 to $29.00 in a report issued on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Wells Fargo & Company's price target points to a potential downside of 2.09% from the company's current price.

BXSL has been the subject of several other reports. JPMorgan Chase & Co. decreased their price target on shares of Blackstone Secured Lending Fund from $33.50 to $30.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Truist Financial raised their target price 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. Finally, Keefe, Bruyette & Woods cut their price target on shares of Blackstone Secured Lending Fund from $32.00 to $31.00 and set a "market perform" rating on the stock in a report on Tuesday, April 8th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $31.71.

Blackstone Secured Lending Fund Stock Up 2.1 %

Blackstone Secured Lending Fund stock traded up $0.60 during midday trading on Monday, reaching $29.62. 1,071,225 shares of the stock traded hands, compared to its average volume of 1,061,531. The stock has a market cap of $6.75 billion, a P/E ratio of 8.23 and a beta of 0.43. The stock's fifty day moving average is $30.88 and its 200-day moving average is $31.76. Blackstone Secured Lending Fund has a 12 month low of $25.89 and a 12 month high of $34.64.

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

Institutional Investors Weigh In On Blackstone Secured Lending Fund

Institutional investors have recently made changes to their positions in the stock. Proficio Capital Partners LLC increased its stake in Blackstone Secured Lending Fund by 2,548.0% during the fourth quarter. Proficio Capital Partners LLC now owns 11,032,118 shares of the company's stock worth $356,448,000 after purchasing an additional 10,615,491 shares during the period. CCLA Investment Management purchased a new stake in Blackstone Secured Lending Fund during the 4th quarter worth approximately $67,323,000. Van ECK Associates Corp lifted its holdings in Blackstone Secured Lending Fund by 57.7% during the 4th quarter. Van ECK Associates Corp now owns 5,563,231 shares of the company's stock worth $179,748,000 after buying an additional 2,035,623 shares in the last quarter. Generali Asset Management SPA SGR purchased a new position in Blackstone Secured Lending Fund in the 4th quarter valued at approximately $35,640,000. Finally, Progeny 3 Inc. acquired a new position in shares of Blackstone Secured Lending Fund in the fourth quarter worth $24,345,000. 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).