JPMorgan Chase & Co. Issues Pessimistic Forecast for Blackstone Secured Lending Fund (NYSE:BXSL) Stock Price

Blackstone Secured Lending Fund (NYSE:BXSL) had its target price decreased by equities research analysts at JPMorgan Chase & Co. from $27.00 to $24.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 1.45% from the stock’s current price.

A number of other equities analysts have also issued reports on BXSL. Wall Street Zen lowered Blackstone Secured Lending Fund from a “hold” rating to a “sell” rating in a research note on Sunday, March 1st. Keefe, Bruyette & Woods dropped their price objective on 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 lowered Blackstone Secured Lending Fund from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $26.00 to $24.00 in a report on Wednesday, January 7th. Truist Financial cut their price objective on Blackstone Secured Lending Fund from $33.00 to $30.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. Finally, Bank of America decreased their target price on Blackstone Secured Lending Fund from $33.50 to $29.00 and set a “buy” rating for the company in a research note on Friday, November 28th. Six equities 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $27.09.

Blackstone Secured Lending Fund Trading Down 0.2%

Shares of NYSE:BXSL opened at $23.66 on Friday. The company has a 50 day moving average of $25.12 and a 200-day moving average of $26.51. The firm has a market cap of $5.49 billion, a P/E ratio of 9.62 and a beta of 0.43. Blackstone Secured Lending Fund has a twelve month low of $23.30 and a twelve month high of $33.73.

Blackstone Secured Lending Fund (NYSE:BXSL) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.01. Blackstone Secured Lending Fund had a net margin of 39.69% and a return on equity of 11.82%. The business had revenue of $196.54 million for the quarter, compared to analyst estimates of $359.59 million. Equities research analysts forecast that Blackstone Secured Lending Fund will post 3.54 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Bank of America Corp DE lifted its position in shares of Blackstone Secured Lending Fund by 11.9% during the 2nd 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 during the last quarter. Van ECK Associates Corp grew its holdings in shares of Blackstone Secured Lending Fund by 112.1% in the 4th quarter. Van ECK Associates Corp now owns 5,149,915 shares of the company’s stock worth $135,597,000 after acquiring an additional 2,721,843 shares during the last quarter. UBS Group AG grew its holdings in shares of Blackstone Secured Lending Fund by 112.5% in the 4th quarter. UBS Group AG now owns 4,731,343 shares of the company’s stock worth $124,576,000 after acquiring an additional 2,504,617 shares during the last quarter. Nomura Asset Management Co. Ltd. raised 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 during the period. Finally, Northeast Financial Consultants Inc raised its position in shares of Blackstone Secured Lending Fund by 6.9% during the second quarter. Northeast Financial Consultants Inc now owns 3,359,523 shares of the company’s stock worth $103,305,000 after purchasing an additional 216,835 shares during the period. Institutional investors own 36.49% of the company’s stock.

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.