Brokerages Set Blackstone Secured Lending Fund (NYSE:BXSL) Price Target at $32.79

Shares of Blackstone Secured Lending Fund (NYSE:BXSL) have been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $32.79.

BXSL has been the subject of several research analyst reports. Keefe, Bruyette & Woods upped their price target on shares of Blackstone Secured Lending Fund from $30.50 to $32.00 and gave the company a “market perform” rating in a report on Thursday, February 27th. Truist Financial increased their target price on Blackstone Secured Lending Fund from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Wells Fargo & Company lifted their price target on Blackstone Secured Lending Fund from $29.00 to $31.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. upped their price objective on Blackstone Secured Lending Fund from $33.00 to $33.50 and gave the stock an “overweight” rating in a research report on Monday, February 3rd.

Blackstone Secured Lending Fund Stock Down 3.9 %

BXSL opened at $28.07 on Friday. The stock has a market cap of $6.39 billion, a P/E ratio of 7.80 and a beta of 0.43. Blackstone Secured Lending Fund has a 12 month low of $26.97 and a 12 month high of $34.64. The company has a fifty day simple moving average of $32.98 and a 200 day simple moving average of $31.97.

Blackstone Secured Lending Fund (NYSE:BXSL) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.84 earnings per share (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 business had revenue of $353.00 million during the quarter, compared to the consensus estimate of $346.52 million. On average, equities research analysts expect that Blackstone Secured Lending Fund will post 3.54 earnings per share for the current fiscal year.

Blackstone Secured Lending Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.08 annualized dividend and a dividend yield of 10.97%. Blackstone Secured Lending Fund’s dividend payout ratio is presently 88.76%.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Hedge funds and other institutional investors have recently bought and sold shares of the business. Beacon Capital Management LLC lifted its position in shares of Blackstone Secured Lending Fund by 200.0% in the fourth quarter. Beacon Capital Management LLC now owns 900 shares of the company’s stock valued at $29,000 after buying an additional 600 shares during the last quarter. MassMutual Private Wealth & Trust FSB acquired a new stake in Blackstone Secured Lending Fund during the 4th quarter valued at $31,000. CKW Financial Group bought a new position in Blackstone Secured Lending Fund during the fourth quarter worth $32,000. Transce3nd LLC acquired a new position in shares of Blackstone Secured Lending Fund in the fourth quarter valued at $45,000. Finally, Quarry LP bought a new position in shares of Blackstone Secured Lending Fund in the third quarter valued at about $48,000. Institutional investors own 36.49% of the company’s stock.

About Blackstone Secured Lending Fund

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).