Truist Financial Has Lowered Expectations for Blackstone Secured Lending Fund (NYSE:BXSL) Stock Price

Blackstone Secured Lending Fund (NYSE:BXSL) had its price objective decreased by investment analysts at Truist Financial from $33.00 to $30.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 24.79% from the company’s current price.

Several other equities analysts have also recently commented on the stock. Keefe, Bruyette & Woods reduced their price objective on shares of Blackstone Secured Lending Fund from $29.00 to $27.00 and set an “outperform” rating for the company 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 cut their price target for the company from $26.00 to $24.00 in a report on Wednesday, January 7th. Wall Street Zen cut shares of Blackstone Secured Lending Fund from a “hold” rating to a “sell” rating in a report on Sunday, March 1st. Bank of America lowered their price objective on Blackstone Secured Lending Fund from $33.50 to $29.00 and set a “buy” rating on the stock in a research report on Friday, November 28th. Finally, B. Riley Financial reduced their target price on Blackstone Secured Lending Fund from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Wednesday, November 12th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Blackstone Secured Lending Fund currently has an average rating of “Moderate Buy” and a consensus target price of $28.13.

Blackstone Secured Lending Fund Stock Performance

NYSE:BXSL opened at $24.04 on Wednesday. The business’s fifty day moving average is $25.47 and its 200 day moving average is $26.78. The firm has a market cap of $5.58 billion, a price-to-earnings ratio of 9.77 and a beta of 0.43. Blackstone Secured Lending Fund has a 52-week low of $23.30 and a 52-week high of $33.73.

Blackstone Secured Lending Fund (NYSE:BXSL) last posted its 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 business had revenue of $196.54 million during the quarter, compared to analyst estimates of $359.59 million. Equities analysts predict that Blackstone Secured Lending Fund will post 3.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

Hedge funds have recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. increased its position in shares of Blackstone Secured Lending Fund by 135.1% during the 4th quarter. Armstrong Advisory Group Inc. now owns 999 shares of the company’s stock valued at $26,000 after purchasing an additional 574 shares during the last quarter. Evolution Wealth Management Inc. purchased a new stake in Blackstone Secured Lending Fund in the second quarter worth approximately $37,000. Osterweis Capital Management Inc. bought a new position in Blackstone Secured Lending Fund during the fourth quarter valued at approximately $33,000. Hilton Head Capital Partners LLC purchased a new position in shares of Blackstone Secured Lending Fund during the fourth quarter worth approximately $34,000. Finally, Spire Wealth Management lifted its holdings 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 worth $45,000 after acquiring an additional 767 shares during the last quarter. Institutional investors own 36.49% of the company’s stock.

Blackstone Secured Lending Fund Company Profile

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.