Blackstone Secured Lending Fund (NYSE:BXSL) Downgraded to “Sell” Rating by Wall Street Zen

Blackstone Secured Lending Fund (NYSE:BXSL) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

A number of other brokerages also recently weighed in on BXSL. Wells Fargo & Company upped their price objective on shares of Blackstone Secured Lending Fund from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 7th. Royal Bank Of Canada decreased their price objective on shares of Blackstone Secured Lending Fund from $33.00 to $32.00 and set an “outperform” rating for the company in a research report on Thursday, September 4th. Finally, UBS Group initiated coverage on shares of Blackstone Secured Lending Fund in a research report on Thursday. They issued a “neutral” rating and a $31.00 price objective for the company. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.32.

Blackstone Secured Lending Fund Stock Performance

NYSE:BXSL opened at $28.57 on Friday. The firm’s fifty day moving average is $30.63 and its two-hundred day moving average is $30.90. The firm has a market cap of $6.58 billion, a price-to-earnings ratio of 10.06 and a beta of 0.45. Blackstone Secured Lending Fund has a one year low of $25.89 and a one year high of $34.64.

Blackstone Secured Lending Fund (NYSE:BXSL) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.04). The firm had revenue of $344.80 million during the quarter, compared to analyst estimates of $353.55 million. Blackstone Secured Lending Fund had a return on equity of 12.07% and a net margin of 44.25%. As a group, equities research analysts predict that Blackstone Secured Lending Fund will post 3.54 earnings per share for the current fiscal year.

Institutional Trading of Blackstone Secured Lending Fund

A number of hedge funds have recently bought and sold shares of the business. Wealth Preservation Advisors LLC purchased a new stake in shares of Blackstone Secured Lending Fund in the 1st quarter valued at approximately $30,000. Evolution Wealth Management Inc. purchased a new stake in shares of Blackstone Secured Lending Fund in the 2nd quarter valued at approximately $37,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Blackstone Secured Lending Fund by 45.1% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,270 shares of the company’s stock valued at $41,000 after buying an additional 395 shares during the period. Spire Wealth Management grew its stake in shares of Blackstone Secured Lending Fund by 109.6% in the 2nd quarter. Spire Wealth Management now owns 1,467 shares of the company’s stock valued at $45,000 after buying an additional 767 shares during the period. Finally, Ameriflex Group Inc. purchased a new stake in shares of Blackstone Secured Lending Fund in the 4th quarter valued at approximately $55,000. Institutional investors and hedge funds own 36.49% of the company’s stock.

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).