Blackstone Secured Lending Fund (NYSE:BXSL) Receives Consensus Rating of “Moderate Buy” from Brokerages

Blackstone Secured Lending Fund (NYSE:BXSLGet Free Report) has received a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $28.25.

Several analysts recently weighed in on BXSL shares. Citigroup upped their price target on Blackstone Secured Lending Fund from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 11th. Raymond James increased their target price on Blackstone Secured Lending Fund from $28.00 to $29.50 and gave the company an “outperform” rating in a research note on Monday, August 14th. Finally, Royal Bank of Canada increased their target price on Blackstone Secured Lending Fund from $28.00 to $31.00 and gave the company an “outperform” rating in a research note on Friday, August 11th.

Check Out Our Latest Report on BXSL

Blackstone Secured Lending Fund Stock Up 0.9 %

Shares of BXSL stock opened at $28.04 on Tuesday. The business has a 50-day moving average price of $27.59 and a two-hundred day moving average price of $26.24. Blackstone Secured Lending Fund has a 12-month low of $22.08 and a 12-month high of $29.11. The firm has a market cap of $4.64 billion, a P/E ratio of 9.05 and a beta of 0.53.

Blackstone Secured Lending Fund (NYSE:BXSLGet Free Report) last posted its earnings results on Wednesday, August 9th. The company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. Blackstone Secured Lending Fund had a return on equity of 14.15% and a net margin of 48.55%. The firm had revenue of $290.37 million for the quarter, compared to the consensus estimate of $276.36 million. As a group, research analysts expect that Blackstone Secured Lending Fund will post 3.92 EPS for the current fiscal year.

Blackstone Secured Lending Fund Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 26th. Stockholders of record on Saturday, September 30th will be paid a $0.77 dividend. This is an increase from Blackstone Secured Lending Fund’s previous quarterly dividend of $0.70. This represents a $3.08 dividend on an annualized basis and a dividend yield of 10.98%. The ex-dividend date of this dividend is Thursday, September 28th. Blackstone Secured Lending Fund’s dividend payout ratio (DPR) is 99.35%.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

A number of institutional investors and hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its stake in shares of Blackstone Secured Lending Fund by 57.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,034 shares of the company’s stock worth $28,000 after buying an additional 376 shares during the last quarter. Harbour Investments Inc. lifted its position in Blackstone Secured Lending Fund by 8.9% during the second quarter. Harbour Investments Inc. now owns 4,755 shares of the company’s stock valued at $130,000 after purchasing an additional 390 shares in the last quarter. National Bank of Canada FI lifted its position in Blackstone Secured Lending Fund by 5.2% during the second quarter. National Bank of Canada FI now owns 8,100 shares of the company’s stock valued at $221,000 after purchasing an additional 400 shares in the last quarter. Integrated Advisors Network LLC lifted its position in Blackstone Secured Lending Fund by 2.4% during the second quarter. Integrated Advisors Network LLC now owns 19,026 shares of the company’s stock valued at $521,000 after purchasing an additional 441 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Blackstone Secured Lending Fund by 1.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 33,830 shares of the company’s stock valued at $756,000 after purchasing an additional 456 shares in the last quarter. 36.96% of the stock is currently owned by hedge funds and other institutional investors.

About Blackstone Secured Lending Fund

(Get Free Report

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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Analyst Recommendations for Blackstone Secured Lending Fund (NYSE:BXSL)

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