Blackstone Secured Lending Fund (NYSE:BXSL) Receives $31.80 Consensus Price Target from Brokerages

Shares of Blackstone Secured Lending Fund (NYSE:BXSL) have received a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $31.80.

BXSL has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Blackstone Secured Lending Fund from $31.50 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Wells Fargo & Company lowered their price target on Blackstone Secured Lending Fund from $32.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $33.00 price objective on shares of Blackstone Secured Lending Fund in a research report on Wednesday, August 14th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BXSL. 1832 Asset Management L.P. lifted its position in Blackstone Secured Lending Fund by 13.8% during 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 during the period. Blair William & Co. IL bought a new stake in Blackstone Secured Lending Fund during the first quarter worth about $326,000. Sheaff Brock Investment Advisors LLC bought a new stake in Blackstone Secured Lending Fund during the first quarter worth about $270,000. US Bancorp DE increased its stake in shares of Blackstone Secured Lending Fund by 43.1% during the first quarter. US Bancorp DE now owns 19,935 shares of the company’s stock valued at $621,000 after purchasing an additional 6,002 shares in the last quarter. Finally, Avantax Advisory Services Inc. lifted its holdings in shares of Blackstone Secured Lending Fund by 30.7% during the first quarter. Avantax Advisory Services Inc. now owns 21,797 shares of the company’s stock valued at $679,000 after purchasing an additional 5,122 shares during the last quarter. Hedge funds and other institutional investors own 36.49% of the company’s stock.

Blackstone Secured Lending Fund Stock Up 0.2 %

Shares of NYSE BXSL opened at $31.42 on Wednesday. The firm has a fifty day simple moving average of $30.34 and a 200 day simple moving average of $30.69. Blackstone Secured Lending Fund has a twelve month low of $27.23 and a twelve month high of $32.67. The company has a market capitalization of $6.49 billion, a PE ratio of 8.14 and a beta of 0.42.

Blackstone Secured Lending Fund (NYSE:BXSL) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.01). Blackstone Secured Lending Fund had a return on equity of 13.36% and a net margin of 58.08%. The firm had revenue of $327.06 million for the quarter, compared to analyst estimates of $310.23 million. During the same period last year, the company posted $1.06 earnings per share. As a group, equities analysts expect that Blackstone Secured Lending Fund will post 3.56 earnings per share for the current fiscal year.

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).