Wells Fargo & Company Cuts Blackstone Secured Lending Fund (NYSE:BXSL) Price Target to $29.00

Blackstone Secured Lending Fund (NYSE:BXSL) had its price objective cut by Wells Fargo & Company from $31.00 to $29.00 in a report released on Monday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other research analysts also recently commented on BXSL. JPMorgan Chase & Co. dropped their price objective on shares of Blackstone Secured Lending Fund from $33.50 to $30.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Keefe, Bruyette & Woods dropped their price target on Blackstone Secured Lending Fund from $32.00 to $31.00 and set a “market perform” rating for the company in a research note on Tuesday, April 8th. Finally, Truist Financial raised their price target on Blackstone Secured Lending Fund from $33.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $31.71.

Blackstone Secured Lending Fund Trading Down 1.4 %

Shares of BXSL opened at $29.28 on Monday. The business’s 50 day moving average is $31.06 and its 200 day moving average is $31.77. Blackstone Secured Lending Fund has a 12-month low of $25.89 and a 12-month high of $34.64. The company has a market capitalization of $6.67 billion, a PE ratio of 8.13 and a beta of 0.43.

Blackstone Secured Lending Fund (NYSE:BXSL) last released its quarterly earnings data 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 net margin of 53.91% and a return on equity of 13.15%. The company had revenue of $353.00 million for the quarter, compared to the consensus estimate of $346.52 million. Equities research analysts predict that Blackstone Secured Lending Fund will post 3.54 earnings per share for the current year.

Blackstone Secured Lending Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Monday, March 31st were paid a dividend of $0.77 per share. The ex-dividend date was Monday, March 31st. This represents a $3.08 annualized dividend and a yield of 10.52%. Blackstone Secured Lending Fund’s payout ratio is currently 88.76%.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

Several institutional investors have recently modified their holdings of the stock. Border to Coast Pensions Partnership Ltd lifted its position in Blackstone Secured Lending Fund by 80.0% in the fourth quarter. Border to Coast Pensions Partnership Ltd now owns 450,000 shares of the company’s stock worth $14,530,000 after buying an additional 200,000 shares during the last quarter. Everpar Advisors LLC raised its stake in shares of Blackstone Secured Lending Fund by 4.0% in the fourth quarter. Everpar Advisors LLC now owns 29,273 shares of the company’s stock valued at $946,000 after acquiring an additional 1,126 shares during the period. Sovereign Financial Group Inc. lifted its holdings in shares of Blackstone Secured Lending Fund by 6.2% in the 4th quarter. Sovereign Financial Group Inc. now owns 8,059 shares of the company’s stock worth $260,000 after acquiring an additional 473 shares during the last quarter. CCLA Investment Management purchased a new position in shares of Blackstone Secured Lending Fund during the 4th quarter worth about $67,323,000. Finally, Columbia Advisory Partners LLC boosted its stake in shares of Blackstone Secured Lending Fund by 5.2% during the 4th quarter. Columbia Advisory Partners LLC now owns 53,258 shares of the company’s stock worth $1,721,000 after purchasing an additional 2,656 shares during the period. 36.49% of the stock is owned by 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).