Blackstone Secured Lending Fund (NYSE:BXSL) Given New $31.00 Price Target at Keefe, Bruyette & Woods

Blackstone Secured Lending Fund (NYSE:BXSL) had its price objective reduced by Keefe, Bruyette & Woods from $32.00 to $31.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

BXSL has been the subject of a number of other research reports. JPMorgan Chase & Co. upped 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 report on Monday, February 3rd. Wells Fargo & Company upped 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 note on Wednesday, January 29th. Finally, Truist Financial raised their target price on shares of Blackstone Secured Lending Fund from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $32.63.

Blackstone Secured Lending Fund Trading Down 4.8 %

Shares of Blackstone Secured Lending Fund stock opened at $26.76 on Tuesday. Blackstone Secured Lending Fund has a twelve month low of $26.40 and a twelve month high of $34.64. The firm has a market capitalization of $6.10 billion, a PE ratio of 7.43 and a beta of 0.43. The firm’s 50-day moving average price is $32.74 and its 200 day moving average price is $31.91.

Blackstone Secured Lending Fund (NYSE:BXSL) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $353.00 million during the quarter, compared to analyst estimates of $346.52 million. On average, sell-side analysts predict that Blackstone Secured Lending Fund will post 3.54 EPS for the current fiscal year.

Blackstone Secured Lending Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 31st will be given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 11.51%. The ex-dividend date is Monday, March 31st. Blackstone Secured Lending Fund’s payout ratio is currently 88.76%.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Institutional investors and hedge funds have recently bought and sold shares of the company. Beacon Capital Management LLC increased its holdings in shares of Blackstone Secured Lending Fund by 200.0% during the 4th quarter. Beacon Capital Management LLC now owns 900 shares of the company’s stock worth $29,000 after buying an additional 600 shares during the last quarter. MassMutual Private Wealth & Trust FSB acquired a new stake in Blackstone Secured Lending Fund during the fourth quarter worth $31,000. CKW Financial Group purchased a new stake in Blackstone Secured Lending Fund in the fourth quarter valued at $32,000. Transce3nd LLC acquired a new position in shares of Blackstone Secured Lending Fund in the 4th quarter valued at $45,000. Finally, Quarry LP purchased a new position in shares of Blackstone Secured Lending Fund during the 3rd quarter worth $48,000. 36.49% of the stock is currently owned by institutional investors and hedge funds.

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).