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

Shares of Blackstone Secured Lending Fund (NYSE:BXSLGet Free Report) have earned a consensus rating of “Moderate Buy” from the seven analysts that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $30.92.

A number of analysts have recently weighed in on BXSL shares. Truist Financial raised their price objective on Blackstone Secured Lending Fund from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Citigroup raised their target price on Blackstone Secured Lending Fund from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Raymond James restated a “market perform” rating on shares of Blackstone Secured Lending Fund in a research note on Thursday, February 29th. Bank of America upgraded Blackstone Secured Lending Fund from a “neutral” rating to a “buy” rating in a research note on Monday, March 25th. Finally, JPMorgan Chase & Co. raised their target price on 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.

Check Out Our Latest Report on BXSL

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Several large investors have recently bought and sold shares of BXSL. Van ECK Associates Corp raised its holdings in Blackstone Secured Lending Fund by 14.9% during the first quarter. Van ECK Associates Corp now owns 1,540,503 shares of the company’s stock worth $47,987,000 after purchasing an additional 200,109 shares in the last quarter. OMERS ADMINISTRATION Corp increased its holdings in Blackstone Secured Lending Fund by 2.7% in the third quarter. OMERS ADMINISTRATION Corp now owns 1,383,894 shares of the company’s stock valued at $37,863,000 after buying an additional 36,188 shares in the last quarter. 1832 Asset Management L.P. increased its holdings in Blackstone Secured Lending Fund by 13.8% in the first quarter. 1832 Asset Management L.P. now owns 1,085,676 shares of the company’s stock valued at $33,819,000 after buying an additional 131,876 shares in the last quarter. HighTower Advisors LLC increased its holdings in Blackstone Secured Lending Fund by 11.3% in the third quarter. HighTower Advisors LLC now owns 951,670 shares of the company’s stock valued at $26,029,000 after buying an additional 96,245 shares in the last quarter. Finally, Northeast Financial Consultants Inc increased its holdings in Blackstone Secured Lending Fund by 24.9% in the third quarter. Northeast Financial Consultants Inc now owns 885,114 shares of the company’s stock valued at $24,217,000 after buying an additional 176,374 shares in the last quarter. Institutional investors and hedge funds own 36.49% of the company’s stock.

Blackstone Secured Lending Fund Price Performance

Shares of BXSL stock opened at $31.46 on Thursday. Blackstone Secured Lending Fund has a 1 year low of $25.83 and a 1 year high of $32.67. The stock’s 50 day simple moving average is $31.23 and its two-hundred day simple moving average is $29.68. The company has a market cap of $6.05 billion, a PE ratio of 8.39 and a beta of 0.45.

Blackstone Secured Lending Fund (NYSE:BXSLGet Free Report) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.87 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.05). The firm had revenue of $303.96 million for the quarter, compared to analysts’ expectations of $305.08 million. Blackstone Secured Lending Fund had a return on equity of 14.06% and a net margin of 55.54%. Equities research analysts expect that Blackstone Secured Lending Fund will post 3.56 EPS for the current year.

Blackstone Secured Lending Fund Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Sunday, June 30th will be paid a dividend of $0.77 per share. The ex-dividend date is Friday, June 28th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 9.79%. Blackstone Secured Lending Fund’s payout ratio is currently 82.13%.

Blackstone Secured Lending Fund Company Profile

(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).

See Also

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

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