Blackstone Secured Lending Fund (NYSE:BXSL) Price Target Cut to $28.00 by Analysts at Royal Bank Of Canada

Blackstone Secured Lending Fund (NYSE:BXSL) had its price objective trimmed by Royal Bank Of Canada from $29.00 to $28.00 in a report published on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other research analysts have also recently issued reports on the company. B. Riley Financial decreased their price target on Blackstone Secured Lending Fund from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday, November 12th. Keefe, Bruyette & Woods lowered their target price on shares of Blackstone Secured Lending Fund from $29.00 to $27.00 and set an “outperform” rating on the stock in a research note on Thursday, February 26th. Wells Fargo & Company downgraded shares of Blackstone Secured Lending Fund from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $26.00 to $24.00 in a research report on Wednesday, January 7th. Bank of America decreased their price objective on shares of Blackstone Secured Lending Fund from $33.50 to $29.00 and set a “buy” rating for the company in a report on Friday, November 28th. Finally, Wall Street Zen lowered shares of Blackstone Secured Lending Fund from a “hold” rating to a “sell” rating in a research note on Sunday. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Blackstone Secured Lending Fund presently has an average rating of “Moderate Buy” and a consensus target price of $27.86.

Blackstone Secured Lending Fund Stock Up 0.7%

Blackstone Secured Lending Fund stock opened at $24.35 on Tuesday. Blackstone Secured Lending Fund has a 52-week low of $23.30 and a 52-week high of $33.73. The firm has a market capitalization of $5.66 billion, a price-to-earnings ratio of 9.90 and a beta of 0.43. The firm has a 50-day moving average price of $25.59 and a two-hundred day moving average price of $26.82.

Blackstone Secured Lending Fund (NYSE:BXSL) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.01. Blackstone Secured Lending Fund had a return on equity of 11.82% and a net margin of 39.69%.The company had revenue of $196.54 million for the quarter, compared to analysts’ expectations of $359.59 million. Research analysts expect that Blackstone Secured Lending Fund will post 3.54 earnings per share for the current year.

Blackstone Secured Lending Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 24th. Investors of record on Tuesday, March 31st will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 12.6%. The ex-dividend date is Tuesday, March 31st. Blackstone Secured Lending Fund’s payout ratio is presently 125.20%.

Institutional Trading of Blackstone Secured Lending Fund

A number of large investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd grew its position in Blackstone Secured Lending Fund by 60,616.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,643 shares of the company’s stock worth $96,000 after buying an additional 3,637 shares during the last quarter. Sankala Group LLC bought a new stake in shares of Blackstone Secured Lending Fund during the 4th quarter worth $79,000. Invesco Ltd. grew its holdings in shares of Blackstone Secured Lending Fund by 22.6% in the 4th quarter. Invesco Ltd. now owns 107,310 shares of the company’s stock worth $2,825,000 after acquiring an additional 19,807 shares during the last quarter. Strive Financial Group LLC acquired a new stake in shares of Blackstone Secured Lending Fund during the fourth quarter worth $378,000. Finally, Pillsbury Lake Capital LLC purchased a new stake in shares of Blackstone Secured Lending Fund during the fourth quarter valued at $2,651,000. 36.49% of the stock is currently owned by institutional investors.

About Blackstone Secured Lending Fund

Blackstone Secured Lending Fund (NYSE: BXSL) is a closed-end management investment company sponsored by Blackstone Credit, the credit-oriented business of Blackstone Inc Launched in May 2020, BXSL seeks to deliver attractive risk-adjusted returns primarily through current income and, to a lesser extent, capital appreciation. The fund raises capital from institutional and retail investors and deploys it into a diversified portfolio of senior secured loans and other credit instruments.

The fund’s principal investment focus is on first-lien senior secured loans and unitranche debt extended to middle-market companies across North America.