Blackstone Secured Lending Fund (NYSE:BXSL) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Blackstone Secured Lending Fund (NYSE:BXSL) had its price objective boosted by analysts at Keefe, Bruyette & Woods from $30.50 to $32.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target suggests a potential downside of 2.29% from the company’s previous close.

Several other analysts have also commented on the stock. JPMorgan Chase & Co. raised their price target on shares of Blackstone Secured Lending Fund from $33.00 to $33.50 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Wells Fargo & Company raised their price target on shares of Blackstone Secured Lending Fund from $29.00 to $31.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Finally, Compass Point dropped their price target on shares of Blackstone Secured Lending Fund from $33.50 to $32.25 and set a “buy” rating on the stock in a research report on Friday, November 15th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Blackstone Secured Lending Fund presently has a consensus rating of “Moderate Buy” and an average price target of $32.11.

Blackstone Secured Lending Fund Price Performance

NYSE:BXSL opened at $32.75 on Thursday. The firm has a market capitalization of $7.33 billion, a P/E ratio of 9.10 and a beta of 0.43. Blackstone Secured Lending Fund has a 1-year low of $27.76 and a 1-year high of $34.64. The company’s fifty day moving average price is $32.93 and its 200-day moving average price is $31.46.

Blackstone Secured Lending Fund (NYSE:BXSL) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.02). Blackstone Secured Lending Fund had a net margin of 53.91% and a return on equity of 13.15%. Equities analysts anticipate that Blackstone Secured Lending Fund will post 3.54 EPS for the current fiscal year.

Institutional Trading of Blackstone Secured Lending Fund

Several institutional investors have recently modified their holdings of BXSL. Proficio Capital Partners LLC grew its position in shares of Blackstone Secured Lending Fund by 2,548.0% in the fourth quarter. Proficio Capital Partners LLC now owns 11,032,118 shares of the company’s stock valued at $356,448,000 after purchasing an additional 10,615,491 shares during the period. CCLA Investment Management purchased a new position in shares of Blackstone Secured Lending Fund in the fourth quarter worth about $67,323,000. Van ECK Associates Corp lifted its stake in shares of Blackstone Secured Lending Fund by 57.7% in the fourth quarter. Van ECK Associates Corp now owns 5,563,231 shares of the company’s stock worth $179,748,000 after buying an additional 2,035,623 shares in the last quarter. Generali Asset Management SPA SGR purchased a new position in shares of Blackstone Secured Lending Fund in the fourth quarter worth about $35,640,000. Finally, Progeny 3 Inc. purchased a new position in shares of Blackstone Secured Lending Fund in the fourth quarter worth about $24,345,000. Institutional investors and hedge funds own 36.49% of the company’s stock.

Blackstone Secured Lending Fund Company Profile

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).