Blackstone Secured Lending Fund (NYSE:BXSL) Downgraded to “Sell” Rating by Wall Street Zen

Blackstone Secured Lending Fund (NYSE:BXSL) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Other equities research analysts have also issued research reports about the company. Keefe, Bruyette & Woods lowered their target price on Blackstone Secured Lending Fund from $30.00 to $29.00 and set an “outperform” rating for the company in a research note on Tuesday, November 11th. 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. UBS Group lowered their price target on Blackstone Secured Lending Fund from $31.00 to $28.00 and set a “neutral” rating for the company in a report on Tuesday, October 14th. Wells Fargo & Company downgraded shares of Blackstone Secured Lending Fund from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $26.00 to $24.00 in a research report on Wednesday, January 7th. Finally, B. Riley Financial lowered their price objective 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. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Blackstone Secured Lending Fund has an average rating of “Moderate Buy” and a consensus target price of $29.13.

Blackstone Secured Lending Fund Trading Up 1.5%

Shares of BXSL opened at $24.92 on Friday. The stock’s fifty day simple moving average is $26.74 and its 200 day simple moving average is $27.66. The firm has a market capitalization of $5.76 billion, a P/E ratio of 9.37 and a beta of 0.41. Blackstone Secured Lending Fund has a twelve month low of $24.17 and a twelve month high of $34.64.

Blackstone Secured Lending Fund (NYSE:BXSL) last issued its earnings results on Monday, November 10th. The company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.02. The business had revenue of $358.56 million during the quarter, compared to analysts’ expectations of $353.55 million. Blackstone Secured Lending Fund had a return on equity of 11.85% and a net margin of 42.38%. Sell-side analysts predict that Blackstone Secured Lending Fund will post 3.54 earnings per share for the current year.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

Large investors have recently made changes to their positions in the company. FLC Capital Advisors raised its position in Blackstone Secured Lending Fund by 2.8% during the second quarter. FLC Capital Advisors now owns 14,715 shares of the company’s stock valued at $452,000 after buying an additional 405 shares during the period. Delphi Management Inc. MA raised its holdings in Blackstone Secured Lending Fund by 0.9% in 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 period. Prime Capital Investment Advisors LLC lifted its position in shares of Blackstone Secured Lending Fund by 5.9% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 7,704 shares of the company’s stock worth $201,000 after purchasing an additional 430 shares during the last quarter. Comprehensive Money Management Services LLC boosted its position in shares of Blackstone Secured Lending Fund by 2.7% in the third quarter. Comprehensive Money Management Services LLC now owns 16,916 shares of the company’s stock valued at $441,000 after acquiring an additional 440 shares during the period. Finally, Truist Financial Corp raised its position in shares of Blackstone Secured Lending Fund by 1.4% during the second quarter. Truist Financial Corp now owns 32,995 shares of the company’s stock valued at $1,015,000 after buying an additional 442 shares during the last quarter. Institutional investors and hedge funds 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.