Blackstone Secured Lending Fund (NYSE:BXSL) Stock Now Rated “Hold” by Sell-Side Brokerages

Blackstone Secured Lending Fund (NYSE:BXSL) has been given an average rating of “Hold” by the twelve ratings firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $24.89.

BXSL has been the subject of several research reports. Wall Street Zen raised Blackstone Secured Lending Fund from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. UBS Group boosted their price target on shares of Blackstone Secured Lending Fund from $24.50 to $25.50 and gave the company a “neutral” rating in a report on Tuesday, September 1st. Citizens Jmp started coverage on shares of Blackstone Secured Lending Fund in a research note on Monday, October 26th. They issued a “market perform” rating for the company. Citigroup started coverage on shares of Blackstone Secured Lending Fund in a research note on Monday, October 26th. They issued a “market perform” rating for the company. Finally, Zacks Research upgraded shares of Blackstone Secured Lending Fund from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 5th.

Blackstone Secured Lending Fund Trading Up 1.6%

BXSL opened at $23.66 on Tuesday. The business has a 50 day moving average of $24.20 and a 200-day moving average of $24.15. The stock has a market capitalization of $5.51 billion, a price-to-earnings ratio of 18.63 and a beta of 0.39. Blackstone Secured Lending Fund has a 1-year low of $22.47 and a 1-year high of $28.59.

Blackstone Secured Lending Fund (NYSE:BXSL) last released its earnings results on Thursday, August 6th. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.09. The business had revenue of $320.47 million during the quarter, compared to analysts’ expectations of $326.72 million. Blackstone Secured Lending Fund had a net margin of 21.51% and a return on equity of 11.86%. Equities analysts predict that Blackstone Secured Lending Fund will post 2.85 EPS for the current year.

Blackstone Secured Lending Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 23rd. Shareholders of record on Wednesday, September 30th were paid a dividend of $0.77 per share. The ex-dividend date was Wednesday, September 30th. This represents a $3.08 dividend on an annualized basis and a yield of 13.0%. Blackstone Secured Lending Fund’s dividend payout ratio (DPR) is currently 242.52%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Generali Asset Management SPA SGR grew its holdings in shares of Blackstone Secured Lending Fund by 5.9% in the 3rd quarter. Generali Asset Management SPA SGR now owns 2,755,004 shares of the company’s stock worth $66,065,000 after purchasing an additional 152,410 shares during the last quarter. OMERS ADMINISTRATION Corp increased its position in shares of Blackstone Secured Lending Fund by 17.3% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 2,216,715 shares of the company’s stock worth $52,514,000 after purchasing an additional 326,366 shares in the last quarter. Quantum Portfolio Management LLC bought a new position in Blackstone Secured Lending Fund during the 1st quarter valued at about $38,000. Royal Bank of Canada lifted its holdings in Blackstone Secured Lending Fund by 1.3% during the 1st quarter. Royal Bank of Canada now owns 1,421,532 shares of the company’s stock valued at $33,677,000 after purchasing an additional 18,841 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in Blackstone Secured Lending Fund by 0.3% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 896,548 shares of the company’s stock valued at $21,239,000 after purchasing an additional 3,000 shares during the last quarter. 36.49% of the stock is owned by institutional investors.

About Blackstone Secured Lending Fund

Blackstone Secured Lending Fund (NYSE: BXSL) is a business development company that invests in privately owned middle-market companies. The fund seeks to generate current income and long-term capital appreciation primarily through investments in senior secured, floating-rate loans.

BXSL’s portfolio may also include second-lien loans, unsecured debt and equity investments. Its investments are generally made in companies across a range of industries, with an emphasis on businesses that have established operations and cash flows.