Blackstone Secured Lending Fund (NYSE:BXSL) Trading Up 0.1%

Shares of Blackstone Secured Lending Fund (NYSE:BXSLGet Free Report) were up 0.1% on Monday . The company traded as high as $31.70 and last traded at $31.50. Approximately 756,521 shares changed hands during mid-day trading, a decline of 19% from the average daily volume of 933,097 shares. The stock had previously closed at $31.47.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Bank of America upgraded shares of Blackstone Secured Lending Fund from a “neutral” rating to a “buy” rating in a research note on Monday, March 25th. Raymond James restated a “market perform” rating on shares of Blackstone Secured Lending Fund in a research note on Thursday, February 29th. Truist Financial raised their target price on Blackstone Secured Lending Fund from $30.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Citigroup upped their price target on Blackstone Secured Lending Fund from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Blackstone Secured Lending Fund from $30.00 to $31.50 and gave the stock an “overweight” rating in a research note on Friday, April 12th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Blackstone Secured Lending Fund currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.92.

Get Our Latest Research Report on Blackstone Secured Lending Fund

Blackstone Secured Lending Fund Stock Up 0.1 %

The firm has a 50-day moving average of $31.21 and a 200 day moving average of $29.65. The stock has a market capitalization of $6.06 billion, a P/E ratio of 8.40 and a beta of 0.45.

Blackstone Secured Lending Fund (NYSE:BXSLGet Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.05). Blackstone Secured Lending Fund had a net margin of 55.54% and a return on equity of 14.06%. The business had revenue of $303.96 million during the quarter, compared to analyst estimates of $305.08 million. Analysts predict that Blackstone Secured Lending Fund will post 3.56 EPS for the current fiscal year.

Blackstone Secured Lending Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Sunday, June 30th will be paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 9.78%. The ex-dividend date of this dividend is Friday, June 28th. Blackstone Secured Lending Fund’s dividend payout ratio is 82.13%.

Institutional Trading of Blackstone Secured Lending Fund

Several institutional investors have recently bought and sold shares of the stock. UBS Group AG lifted its holdings in Blackstone Secured Lending Fund by 16.1% during the 3rd quarter. UBS Group AG now owns 655,524 shares of the company’s stock valued at $17,935,000 after purchasing an additional 91,109 shares during the last quarter. Muzinich & Co. Inc. increased its holdings in shares of Blackstone Secured Lending Fund by 2.1% during the third quarter. Muzinich & Co. Inc. now owns 370,965 shares of the company’s stock worth $10,150,000 after buying an additional 7,501 shares in the last quarter. Bramshill Investments LLC raised its stake in shares of Blackstone Secured Lending Fund by 33.6% in the third quarter. Bramshill Investments LLC now owns 103,821 shares of the company’s stock valued at $2,841,000 after acquiring an additional 26,089 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Blackstone Secured Lending Fund by 9.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 119,039 shares of the company’s stock worth $3,257,000 after acquiring an additional 10,613 shares in the last quarter. Finally, IPG Investment Advisors LLC bought a new stake in Blackstone Secured Lending Fund during the 3rd quarter worth approximately $326,000. Institutional investors and hedge funds own 36.49% of the company’s stock.

Blackstone Secured Lending Fund Company Profile

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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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