Blackstone Secured Lending Fund (NYSE:BXSL) Research Coverage Started at B. Riley

B. Riley began coverage on shares of Blackstone Secured Lending Fund (NYSE:BXSL) in a research report sent to investors on Wednesday morning, Marketbeat reports. The firm issued a buy rating and a $32.00 price objective on the stock.

Other equities research analysts also recently issued research reports about the company. UBS Group assumed 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 on the stock. Wall Street Zen downgraded Blackstone Secured Lending Fund from a “hold” rating to a “sell” rating in a report on Saturday, September 13th. Royal Bank Of Canada lowered their price target on Blackstone Secured Lending Fund from $33.00 to $32.00 and set an “outperform” rating for the company in a report on Thursday, September 4th. Finally, Wells Fargo & Company raised their price target 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. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $31.41.

Blackstone Secured Lending Fund Trading Down 1.2%

BXSL opened at $26.99 on Wednesday. Blackstone Secured Lending Fund has a 12-month low of $25.89 and a 12-month high of $34.64. The business’s fifty day simple moving average is $29.77 and its 200-day simple moving average is $30.53. The company has a market capitalization of $6.21 billion, a price-to-earnings ratio of 9.50 and a beta of 0.45.

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

Blackstone Secured Lending Fund Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 11.4%. Blackstone Secured Lending Fund’s payout ratio is 108.45%.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

Institutional investors and hedge funds have recently modified their holdings of the company. Wealth Preservation Advisors LLC acquired a new stake in shares of Blackstone Secured Lending Fund during the first quarter worth about $30,000. Evolution Wealth Management Inc. purchased a new position in Blackstone Secured Lending Fund during the second quarter valued at approximately $37,000. Northwestern Mutual Wealth Management Co. raised its position in Blackstone Secured Lending Fund by 45.1% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,270 shares of the company’s stock valued at $41,000 after acquiring an additional 395 shares in the last quarter. Spire Wealth Management raised its position in Blackstone Secured Lending Fund by 109.6% during the second quarter. Spire Wealth Management now owns 1,467 shares of the company’s stock valued at $45,000 after acquiring an additional 767 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in Blackstone Secured Lending Fund during the fourth quarter valued at approximately $60,000. 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).