Brokerages Set Blackstone Secured Lending Fund (NYSE:BXSL) PT at $31.38

Shares of Blackstone Secured Lending Fund (NYSE:BXSL) have received a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $31.38.

A number of equities research analysts have issued reports on the company. Keefe, Bruyette & Woods lowered their price target on Blackstone Secured Lending Fund from $32.00 to $31.00 and set a “market perform” rating for the company in a research report on Tuesday, April 8th. JPMorgan Chase & Co. decreased their price objective on shares of Blackstone Secured Lending Fund from $33.50 to $30.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Finally, Wells Fargo & Company decreased their price target on shares of Blackstone Secured Lending Fund from $29.00 to $27.00 and set an “equal weight” rating for the company in a research report on Thursday, May 8th.

Blackstone Secured Lending Fund Stock Performance

BXSL stock opened at $32.36 on Monday. Blackstone Secured Lending Fund has a 52-week low of $25.89 and a 52-week high of $34.64. The company has a fifty day moving average price of $31.39 and a 200-day moving average price of $31.64. The company has a market capitalization of $7.43 billion, a P/E ratio of 10.21 and a beta of 0.46.

Blackstone Secured Lending Fund (NYSE:BXSL) last posted its earnings results on Wednesday, May 7th. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. Blackstone Secured Lending Fund had a net margin of 47.80% and a return on equity of 12.49%. The business had revenue of $357.76 million for the quarter, compared to analysts’ expectations of $358.40 million. As a group, sell-side analysts forecast that Blackstone Secured Lending Fund will post 3.54 earnings per share for the current fiscal year.

Blackstone Secured Lending Fund Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.77 per share. The ex-dividend date is Monday, June 30th. This represents a $3.08 annualized dividend and a dividend yield of 9.52%. Blackstone Secured Lending Fund’s dividend payout ratio (DPR) is 97.16%.

Insider Buying and Selling at Blackstone Secured Lending Fund

In other Blackstone Secured Lending Fund news, insider Robert J. Bass bought 1,626 shares of Blackstone Secured Lending Fund stock in a transaction on Tuesday, May 13th. The stock was bought at an average price of $30.78 per share, with a total value of $50,048.28. Following the completion of the acquisition, the insider owned 17,403 shares in the company, valued at $535,664.34. The trade was a 10.31% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the company. CCLA Investment Management raised its position in shares of Blackstone Secured Lending Fund by 54.1% during the 1st quarter. CCLA Investment Management now owns 3,214,583 shares of the company’s stock worth $104,023,000 after purchasing an additional 1,128,986 shares during the last quarter. Generali Asset Management SPA SGR purchased a new stake in shares of Blackstone Secured Lending Fund in the fourth quarter valued at $35,640,000. Northeast Financial Consultants Inc lifted its position in shares of Blackstone Secured Lending Fund by 33.1% in the first quarter. Northeast Financial Consultants Inc now owns 3,142,688 shares of the company’s stock valued at $101,697,000 after acquiring an additional 781,394 shares in the last quarter. Progeny 3 Inc. purchased a new position in Blackstone Secured Lending Fund in the 4th quarter valued at about $24,345,000. Finally, Bank of America Corp DE lifted its holdings in Blackstone Secured Lending Fund by 12.5% in the 4th quarter. Bank of America Corp DE now owns 6,682,928 shares of the company’s stock valued at $215,925,000 after purchasing an additional 741,285 shares in the last quarter. 36.49% of the stock is owned by institutional investors and hedge funds.

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).