UBS Group Has Lowered Expectations for Blackstone Secured Lending Fund (NYSE:BXSL) Stock Price

Blackstone Secured Lending Fund (NYSE:BXSL) had its price objective lowered by research analysts at UBS Group from $27.50 to $24.75 in a report released on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price target indicates a potential upside of 4.62% from the company’s current price.

A number of other analysts have also recently issued reports on BXSL. JPMorgan Chase & Co. decreased their target price on Blackstone Secured Lending Fund from $27.00 to $24.00 and set an “overweight” rating for the company in a report on Friday. Wall Street Zen cut shares of Blackstone Secured Lending Fund from a “hold” rating to a “sell” rating in a research report on Sunday, March 1st. Truist Financial decreased their price objective on shares of Blackstone Secured Lending Fund from $33.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. Keefe, Bruyette & Woods dropped 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 report on Thursday, February 26th. Finally, Royal Bank Of Canada cut their target price on shares of Blackstone Secured Lending Fund from $29.00 to $28.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 3rd. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.09.

Blackstone Secured Lending Fund Trading Down 0.2%

Shares of Blackstone Secured Lending Fund stock opened at $23.66 on Friday. The business’s fifty day moving average price is $25.12 and its 200 day moving average price is $26.51. Blackstone Secured Lending Fund has a twelve month low of $23.30 and a twelve month high of $33.73. The stock has a market capitalization of $5.49 billion, a P/E ratio of 9.62 and a beta of 0.43.

Blackstone Secured Lending Fund (NYSE:BXSL) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.79 by $0.01. The company had revenue of $196.54 million during the quarter, compared to analyst estimates of $359.59 million. Blackstone Secured Lending Fund had a return on equity of 11.82% and a net margin of 39.69%. As a group, sell-side analysts predict that Blackstone Secured Lending Fund will post 3.54 EPS for the current year.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE grew its position in Blackstone Secured Lending Fund by 11.9% in the second 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. Van ECK Associates Corp raised its stake in shares of Blackstone Secured Lending Fund by 112.1% during the fourth quarter. Van ECK Associates Corp now owns 5,149,915 shares of the company’s stock valued at $135,597,000 after purchasing an additional 2,721,843 shares during the period. UBS Group AG lifted its position in shares of Blackstone Secured Lending Fund by 112.5% during the fourth quarter. UBS Group AG now owns 4,731,343 shares of the company’s stock worth $124,576,000 after purchasing an additional 2,504,617 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of Blackstone Secured Lending Fund by 3.8% during the second quarter. Nomura Asset Management Co. Ltd. now owns 4,260,951 shares of the company’s stock worth $131,024,000 after purchasing an additional 156,680 shares in the last quarter. Finally, Northeast Financial Consultants Inc boosted its stake in shares of Blackstone Secured Lending Fund by 6.9% in the second quarter. Northeast Financial Consultants Inc now owns 3,359,523 shares of the company’s stock valued at $103,305,000 after purchasing an additional 216,835 shares during the period. 36.49% of the stock is owned by institutional investors and hedge funds.

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.