Truist Financial Forecasts Strong Price Appreciation for Blackstone Secured Lending Fund (NYSE:BXSL) Stock

Blackstone Secured Lending Fund (NYSE:BXSL) had its target price boosted by Truist Financial from $33.00 to $35.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price objective suggests a potential upside of 6.39% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. lifted their target price on shares of Blackstone Secured Lending Fund from $33.00 to $33.50 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Wells Fargo & Company boosted their price objective 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. Keefe, Bruyette & Woods increased their target price on shares of Blackstone Secured Lending Fund from $30.50 to $32.00 and gave the stock a “market perform” rating in a report on Thursday. Finally, Compass Point cut their target price on Blackstone Secured Lending Fund from $33.50 to $32.25 and set a “buy” rating on the stock in a research note on Friday, November 15th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Blackstone Secured Lending Fund has an average rating of “Moderate Buy” and an average price target of $32.54.

Blackstone Secured Lending Fund Trading Up 0.5 %

Shares of NYSE:BXSL opened at $32.90 on Thursday. The stock has a market capitalization of $7.36 billion, a P/E ratio of 9.16 and a beta of 0.43. The stock’s 50-day moving average price is $32.93 and its 200-day moving average price is $31.46. Blackstone Secured Lending Fund has a 12-month low of $27.76 and a 12-month high of $34.64.

Blackstone Secured Lending Fund (NYSE:BXSL) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.02). Blackstone Secured Lending Fund had a return on equity of 13.15% and a net margin of 53.91%. The company had revenue of $353.00 million for the quarter, compared to the consensus estimate of $346.52 million. As a group, research analysts predict that Blackstone Secured Lending Fund will post 3.54 EPS for the current year.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Several hedge funds and other institutional investors have recently modified their holdings of BXSL. Blue Trust Inc. boosted its position in Blackstone Secured Lending Fund by 1,466.7% during the 3rd quarter. Blue Trust Inc. now owns 1,175 shares of the company’s stock valued at $36,000 after acquiring an additional 1,100 shares in the last quarter. Signaturefd LLC purchased a new position in shares of Blackstone Secured Lending Fund in the 3rd quarter valued at approximately $29,000. Private Advisor Group LLC boosted its position in shares of Blackstone Secured Lending Fund by 2.5% during the third quarter. Private Advisor Group LLC now owns 42,711 shares of the company’s stock valued at $1,251,000 after purchasing an additional 1,050 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Blackstone Secured Lending Fund by 2.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,093 shares of the company’s stock worth $637,000 after purchasing an additional 541 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Blackstone Secured Lending Fund by 3.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 15,160 shares of the company’s stock worth $444,000 after purchasing an additional 547 shares in the last quarter. Hedge funds and other institutional investors own 36.49% of the company’s stock.

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).