Blackstone Secured Lending Fund (NYSE:BXSL) Receives $31.71 Average Price Target from Analysts

Blackstone Secured Lending Fund (NYSE:BXSL) has been assigned an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $31.71.

Several equities research analysts have recently commented on BXSL shares. Keefe, Bruyette & Woods lowered their price objective on shares of Blackstone Secured Lending Fund from $32.00 to $31.00 and set a “market perform” rating for the company in a research note on Tuesday, April 8th. Wells Fargo & Company lowered their price target on Blackstone Secured Lending Fund from $31.00 to $29.00 and set an “equal weight” rating for the company in a research report on Monday, April 28th. JPMorgan Chase & Co. cut their price objective on Blackstone Secured Lending Fund from $33.50 to $30.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. Finally, Truist Financial lifted 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.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Beacon Capital Management LLC grew its position in shares of Blackstone Secured Lending Fund by 200.0% during the 4th quarter. Beacon Capital Management LLC now owns 900 shares of the company’s stock valued at $29,000 after acquiring an additional 600 shares during the period. MassMutual Private Wealth & Trust FSB acquired a new stake in Blackstone Secured Lending Fund in the fourth quarter valued at approximately $31,000. CKW Financial Group purchased a new stake in shares of Blackstone Secured Lending Fund in the fourth quarter valued at approximately $32,000. Transce3nd LLC acquired a new position in shares of Blackstone Secured Lending Fund during the 4th quarter worth approximately $45,000. Finally, Ameriflex Group Inc. purchased a new position in shares of Blackstone Secured Lending Fund during the 4th quarter valued at approximately $55,000. Hedge funds and other institutional investors own 36.49% of the company’s stock.

Blackstone Secured Lending Fund Price Performance

Shares of NYSE:BXSL opened at $29.62 on Wednesday. The business’s 50-day moving average is $30.88 and its 200 day moving average is $31.76. Blackstone Secured Lending Fund has a 1 year low of $25.89 and a 1 year high of $34.64. The firm has a market capitalization of $6.75 billion, a P/E ratio of 8.23 and a beta of 0.43.

Blackstone Secured Lending Fund (NYSE:BXSL) last posted its quarterly earnings data 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). The company had revenue of $353.00 million for the quarter, compared to analyst estimates of $346.52 million. Blackstone Secured Lending Fund had a net margin of 53.91% and a return on equity of 13.15%. On average, analysts expect that Blackstone Secured Lending Fund will post 3.54 EPS for the current year.

Blackstone Secured Lending Fund Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Monday, March 31st were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 10.40%. The ex-dividend date was Monday, March 31st. Blackstone Secured Lending Fund’s dividend payout ratio (DPR) is presently 88.76%.

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).