Blackstone Secured Lending Fund (NYSE:BXSL) Now Covered by Analysts at Oppenheimer

Oppenheimer assumed coverage on shares of Blackstone Secured Lending Fund (NYSE:BXSL) in a research note released on Thursday, Marketbeat Ratings reports. The firm issued a market perform rating and a $25.00 price objective on the stock.

Other research analysts have also issued research reports about the stock. Keefe, Bruyette & Woods lowered shares of Blackstone Secured Lending Fund from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $25.00 to $24.00 in a research note on Monday, June 8th. B. Riley Financial cut their price objective on shares of Blackstone Secured Lending Fund from $24.50 to $23.50 and set a “neutral” rating for the company in a research report on Tuesday, May 12th. Truist Financial reduced their price objective on Blackstone Secured Lending Fund from $30.00 to $26.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Royal Bank Of Canada decreased their target price on Blackstone Secured Lending Fund from $28.00 to $26.00 and set an “outperform” rating on the stock in a research report on Monday, May 18th. Finally, UBS Group lowered their target price on Blackstone Secured Lending Fund from $24.75 to $24.50 and set a “neutral” rating on the stock in a research note on Monday, May 18th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Blackstone Secured Lending Fund currently has a consensus rating of “Hold” and a consensus price target of $24.78.

Blackstone Secured Lending Fund Price Performance

Shares of Blackstone Secured Lending Fund stock opened at $23.16 on Thursday. The business has a fifty day simple moving average of $23.64 and a two-hundred day simple moving average of $24.27. Blackstone Secured Lending Fund has a 1 year low of $22.47 and a 1 year high of $32.81. The company has a market capitalization of $5.39 billion, a price-to-earnings ratio of 12.12 and a beta of 0.37.

Blackstone Secured Lending Fund (NYSE:BXSL) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.75 by $0.02. The firm had revenue of $254.64 million for the quarter, compared to the consensus estimate of $353.15 million. Blackstone Secured Lending Fund had a net margin of 31.63% and a return on equity of 11.73%. As a group, equities analysts anticipate that Blackstone Secured Lending Fund will post 2.77 earnings per share for the current fiscal year.

Blackstone Secured Lending Fund Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Tuesday, June 30th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.08 dividend on an annualized basis and a yield of 13.3%. Blackstone Secured Lending Fund’s payout ratio is currently 161.26%.

Insider Activity

In other Blackstone Secured Lending Fund news, insider Robert J. Bass bought 2,095 shares of the stock in a transaction dated Tuesday, May 12th. The shares were bought at an average cost of $23.80 per share, with a total value of $49,861.00. Following the completion of the acquisition, the insider owned 25,107 shares of the company’s stock, valued at $597,546.60. This trade represents a 9.10% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 0.11% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

Several institutional investors have recently made changes to their positions in the stock. Delphi Management Inc. MA grew its position in Blackstone Secured Lending Fund by 0.9% during the 4th quarter. Delphi Management Inc. MA now owns 45,939 shares of the company’s stock worth $1,210,000 after acquiring an additional 421 shares during the last quarter. Walter & Keenan Wealth Management LLC IN ADV increased its holdings in Blackstone Secured Lending Fund by 1.8% in the 4th quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 25,632 shares of the company’s stock worth $675,000 after purchasing an additional 443 shares in the last quarter. Wealthspire Advisors LLC raised its position in Blackstone Secured Lending Fund by 2.4% in the fourth quarter. Wealthspire Advisors LLC now owns 19,343 shares of the company’s stock valued at $509,000 after purchasing an additional 461 shares during the last quarter. Spire Wealth Management raised its position in Blackstone Secured Lending Fund by 0.6% in the fourth quarter. Spire Wealth Management now owns 80,434 shares of the company’s stock valued at $2,118,000 after purchasing an additional 486 shares during the last quarter. Finally, National Bank of Canada FI boosted its stake in shares of Blackstone Secured Lending Fund by 3.4% during the third quarter. National Bank of Canada FI now owns 15,030 shares of the company’s stock valued at $392,000 after purchasing an additional 494 shares in the last quarter. 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.