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

Shares of Blackstone Secured Lending Fund (NYSE:BXSL) have been assigned an average rating of “Moderate Buy” from the seven analysts that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $30.92.

A number of research analysts recently issued reports on BXSL shares. Citigroup increased their target price on shares of Blackstone Secured Lending Fund from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. JPMorgan Chase & Co. increased their price objective on shares of Blackstone Secured Lending Fund from $30.00 to $31.50 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Truist Financial boosted their target price on Blackstone Secured Lending Fund from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Raymond James reiterated a “market perform” rating on shares of Blackstone Secured Lending Fund in a report on Thursday, February 29th. Finally, Bank of America raised Blackstone Secured Lending Fund from a “neutral” rating to a “buy” rating in a research report on Monday, March 25th.

Institutional Trading of Blackstone Secured Lending Fund

Institutional investors and hedge funds have recently modified their holdings of the stock. OMERS ADMINISTRATION Corp raised its position in Blackstone Secured Lending Fund by 2.7% in the 3rd quarter. OMERS ADMINISTRATION Corp now owns 1,383,894 shares of the company’s stock valued at $37,863,000 after buying an additional 36,188 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Blackstone Secured Lending Fund by 13.5% during the fourth quarter. Van ECK Associates Corp now owns 1,340,394 shares of the company’s stock valued at $37,048,000 after purchasing an additional 159,041 shares in the last quarter. 1832 Asset Management L.P. boosted its holdings in Blackstone Secured Lending Fund by 19.2% during the fourth quarter. 1832 Asset Management L.P. now owns 953,800 shares of the company’s stock worth $26,363,000 after purchasing an additional 153,800 shares during the last quarter. HighTower Advisors LLC grew its position in Blackstone Secured Lending Fund by 11.3% in the 3rd quarter. HighTower Advisors LLC now owns 951,670 shares of the company’s stock worth $26,029,000 after purchasing an additional 96,245 shares in the last quarter. Finally, Northeast Financial Consultants Inc increased its stake in Blackstone Secured Lending Fund by 24.9% in the 3rd quarter. Northeast Financial Consultants Inc now owns 885,114 shares of the company’s stock valued at $24,217,000 after buying an additional 176,374 shares during the last quarter. 36.49% of the stock is owned by hedge funds and other institutional investors.

Blackstone Secured Lending Fund Trading Up 0.9 %

BXSL stock opened at $31.90 on Wednesday. The firm has a market cap of $6.11 billion, a PE ratio of 8.74 and a beta of 0.49. The stock has a 50-day moving average price of $30.42 and a 200-day moving average price of $28.83. Blackstone Secured Lending Fund has a 1-year low of $24.83 and a 1-year high of $31.99.

Blackstone Secured Lending Fund (NYSE:BXSL) last issued its earnings results on Wednesday, February 28th. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. The business had revenue of $304.00 million during the quarter, compared to the consensus estimate of $290.58 million. Blackstone Secured Lending Fund had a return on equity of 14.44% and a net margin of 53.50%. On average, analysts forecast that Blackstone Secured Lending Fund will post 3.63 earnings per share for the current year.

Blackstone Secured Lending Fund Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Sunday, March 31st will be paid a dividend of $0.77 per share. The ex-dividend date is Wednesday, March 27th. This represents a $3.08 dividend on an annualized basis and a yield of 9.66%. Blackstone Secured Lending Fund’s dividend payout ratio (DPR) is currently 84.38%.

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).