Blackstone Secured Lending Fund (NYSE:BXSL) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Blackstone Secured Lending Fund (NYSE:BXSL) have received a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $32.79.

Several research firms have recently issued reports on BXSL. Keefe, Bruyette & Woods upped their price objective on Blackstone Secured Lending Fund from $30.50 to $32.00 and gave the company a “market perform” rating in a research note on Thursday, February 27th. 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 note on Wednesday, January 29th. JPMorgan Chase & Co. boosted their price objective 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. Finally, Truist Financial raised their target price on Blackstone Secured Lending Fund from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

Several institutional investors and hedge funds have recently made changes to their positions in the business. Beacon Capital Management LLC lifted its stake in Blackstone Secured Lending Fund by 200.0% in the fourth quarter. Beacon Capital Management LLC now owns 900 shares of the company’s stock valued at $29,000 after buying an additional 600 shares during the period. MassMutual Private Wealth & Trust FSB acquired a new position in shares of Blackstone Secured Lending Fund during the 4th quarter valued at $31,000. CKW Financial Group bought a new position in Blackstone Secured Lending Fund during the fourth quarter worth $32,000. Transce3nd LLC acquired a new stake in Blackstone Secured Lending Fund in the fourth quarter worth $45,000. Finally, Quarry LP bought a new stake in Blackstone Secured Lending Fund in the third quarter valued at $48,000. Institutional investors own 36.49% of the company’s stock.

Blackstone Secured Lending Fund Price Performance

BXSL stock opened at $29.23 on Friday. The stock has a market cap of $6.66 billion, a price-to-earnings ratio of 8.12 and a beta of 0.43. The company has a 50 day simple moving average of $33.08 and a 200 day simple moving average of $31.96. Blackstone Secured Lending Fund has a 1 year low of $27.76 and a 1 year high of $34.64.

Blackstone Secured Lending Fund (NYSE:BXSL) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.02). The firm had revenue of $353.00 million during the quarter, compared to the consensus estimate of $346.52 million. Blackstone Secured Lending Fund had a net margin of 53.91% and a return on equity of 13.15%. On average, equities research analysts anticipate that Blackstone Secured Lending Fund will post 3.54 EPS for the current fiscal year.

Blackstone Secured Lending Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 31st will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 10.54%. The ex-dividend date of this dividend is Monday, March 31st. Blackstone Secured Lending Fund’s dividend payout ratio (DPR) is presently 88.76%.

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).