Blackstone Secured Lending Fund (NYSE:BXSL) Now Covered by Analysts at B. Riley

B. Riley initiated coverage on shares of Blackstone Secured Lending Fund (NYSE:BXSL) in a report issued on Thursday, MarketBeat reports. The firm issued a buy rating and a $32.00 price objective on the stock.

A number of other research analysts also recently weighed in on BXSL. Royal Bank Of Canada reduced their target price on Blackstone Secured Lending Fund from $33.00 to $32.00 and set an “outperform” rating on the stock in a report on Thursday, September 4th. Wells Fargo & Company increased their price objective on Blackstone Secured Lending Fund from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Thursday, August 7th. UBS Group began coverage on Blackstone Secured Lending Fund in a research report on Thursday, September 11th. They set a “neutral” rating and a $31.00 price objective for the company. Finally, Wall Street Zen cut shares of Blackstone Secured Lending Fund from a “hold” rating to a “sell” rating in a report on Saturday, September 13th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $31.41.

Blackstone Secured Lending Fund Trading Up 0.9%

Shares of NYSE BXSL opened at $27.30 on Thursday. The firm has a fifty day simple moving average of $29.88 and a two-hundred day simple moving average of $30.56. Blackstone Secured Lending Fund has a 12 month low of $25.89 and a 12 month high of $34.64. The firm has a market capitalization of $6.29 billion, a PE ratio of 9.61 and a beta of 0.45.

Blackstone Secured Lending Fund (NYSE:BXSL) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.04). Blackstone Secured Lending Fund had a net margin of 44.25% and a return on equity of 12.07%. The company had revenue of $344.80 million for the quarter, compared to analysts’ expectations of $353.55 million. On average, sell-side analysts predict that Blackstone Secured Lending Fund will post 3.54 earnings per share for the current year.

Blackstone Secured Lending Fund Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Tuesday, September 30th will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 11.3%. The ex-dividend date of this dividend is Tuesday, September 30th. Blackstone Secured Lending Fund’s payout ratio is currently 108.45%.

Institutional Trading of Blackstone Secured Lending Fund

Institutional investors and hedge funds have recently bought and sold shares of the company. CCLA Investment Management grew its holdings in shares of Blackstone Secured Lending Fund by 54.1% during the first quarter. CCLA Investment Management now owns 3,214,583 shares of the company’s stock valued at $104,023,000 after buying an additional 1,128,986 shares during the last quarter. Bank of America Corp DE lifted its position in Blackstone Secured Lending Fund by 11.9% in the 2nd quarter. Bank of America Corp DE now owns 7,820,346 shares of the company’s stock valued at $240,476,000 after acquiring an additional 832,179 shares in the last quarter. Northeast Financial Consultants Inc boosted its stake in Blackstone Secured Lending Fund by 33.1% during the 1st quarter. Northeast Financial Consultants Inc now owns 3,142,688 shares of the company’s stock valued at $101,697,000 after purchasing an additional 781,394 shares during the last quarter. 1832 Asset Management L.P. boosted its stake in Blackstone Secured Lending Fund by 106.0% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,166,150 shares of the company’s stock valued at $35,859,000 after purchasing an additional 600,150 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Blackstone Secured Lending Fund by 28.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,360,310 shares of the company’s stock worth $41,830,000 after purchasing an additional 297,519 shares in the last quarter. 36.49% of the stock is currently owned by institutional investors.

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).