Blackstone Secured Lending Fund (NYSE:BXSL) Receives $30.92 Consensus PT from Brokerages

Shares of Blackstone Secured Lending Fund (NYSE:BXSL) have been given a consensus rating of “Moderate Buy” by the seven analysts that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $30.92.

Several equities research analysts have commented on BXSL shares. Wells Fargo & Company increased their price objective on shares of Blackstone Secured Lending Fund from $28.50 to $30.50 and gave the company an “overweight” rating in a research note on Monday, January 29th. Truist Financial increased their price target on Blackstone Secured Lending Fund from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Citigroup boosted their price objective on Blackstone Secured Lending Fund from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Raymond James reaffirmed a “market perform” rating on shares of Blackstone Secured Lending Fund in a research report on Thursday, February 29th. Finally, Bank of America upgraded Blackstone Secured Lending Fund from a “neutral” rating to a “buy” rating in a research note on Monday, March 25th.

Blackstone Secured Lending Fund Trading Up 0.3 %

Shares of NYSE:BXSL opened at $31.29 on Wednesday. The stock has a market cap of $6.00 billion, a PE ratio of 8.57 and a beta of 0.49. The stock’s fifty day simple moving average is $30.23 and its two-hundred day simple moving average is $28.68. Blackstone Secured Lending Fund has a 1-year low of $24.83 and a 1-year high of $31.71.

Blackstone Secured Lending Fund (NYSE:BXSL) last announced its earnings results on Wednesday, February 28th. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. Blackstone Secured Lending Fund had a net margin of 53.50% and a return on equity of 14.44%. The company had revenue of $304.00 million during the quarter, compared to the consensus estimate of $290.58 million. On average, sell-side analysts forecast that Blackstone Secured Lending Fund will post 3.63 earnings per share for the current fiscal year.

Blackstone Secured Lending Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Sunday, March 31st will be paid a $0.77 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.08 annualized dividend and a yield of 9.84%. Blackstone Secured Lending Fund’s payout ratio is 84.38%.

Institutional Trading of Blackstone Secured Lending Fund

A number of large investors have recently bought and sold shares of BXSL. PNC Financial Services Group Inc. increased its stake in shares of Blackstone Secured Lending Fund by 57.1% in the second quarter. PNC Financial Services Group Inc. now owns 1,034 shares of the company’s stock worth $28,000 after purchasing an additional 376 shares in the last quarter. Harbour Investments Inc. boosted its holdings in Blackstone Secured Lending Fund by 8.9% in the 2nd quarter. Harbour Investments Inc. now owns 4,755 shares of the company’s stock worth $130,000 after buying an additional 390 shares during the period. Kavar Capital Partners Group LLC grew its stake in Blackstone Secured Lending Fund by 1.2% in the 3rd quarter. Kavar Capital Partners Group LLC now owns 40,435 shares of the company’s stock valued at $1,106,000 after buying an additional 465 shares in the last quarter. Goodwin Daniel L raised its holdings in Blackstone Secured Lending Fund by 6.3% during the 3rd quarter. Goodwin Daniel L now owns 8,450 shares of the company’s stock valued at $231,000 after acquiring an additional 500 shares during the period. Finally, Guyasuta Investment Advisors Inc. lifted its position in shares of Blackstone Secured Lending Fund by 1.6% during the fourth quarter. Guyasuta Investment Advisors Inc. now owns 31,400 shares of the company’s stock worth $868,000 after acquiring an additional 500 shares in the last quarter. 36.49% of the stock is owned by hedge funds and other institutional investors.

About Blackstone Secured Lending Fund

Blackstone Secured Lending Fund is business development company and a Delaware statutory trust formed on March 26, 2018, and structured as an externally managed, non-diversified closed-end investment Fund. On October 26, 2018, the fund elected to be regulated as a business development company (BDC) under the Investment Company Act of 1940, as amended (the 1940 Act).