Analysts Set Blackstone Secured Lending Fund (NYSE:BXSL) Price Target at $30.92

Blackstone Secured Lending Fund (NYSE:BXSL) has received a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $30.92.

A number of research analysts have recently weighed in on BXSL shares. Raymond James reissued a “market perform” rating on shares of Blackstone Secured Lending Fund in a research note on Thursday, February 29th. Bank of America raised Blackstone Secured Lending Fund from a “neutral” rating to a “buy” rating in a research note on Monday, March 25th. Wells Fargo & Company boosted their target price on Blackstone Secured Lending Fund from $28.50 to $30.50 and gave the stock an “overweight” rating in a research report on Monday, January 29th. Truist Financial increased their price target on shares of 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. Finally, JPMorgan Chase & Co. lifted 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 note on Friday, April 12th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BXSL. Fortis Capital Advisors LLC bought a new position in shares of Blackstone Secured Lending Fund during the first quarter worth about $27,000. PNC Financial Services Group Inc. grew its stake in shares of Blackstone Secured Lending Fund by 57.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,034 shares of the company’s stock worth $28,000 after acquiring an additional 376 shares in the last quarter. Belpointe Asset Management LLC raised its holdings in shares of Blackstone Secured Lending Fund by 1,090.7% in the first quarter. Belpointe Asset Management LLC now owns 1,286 shares of the company’s stock valued at $32,000 after purchasing an additional 1,178 shares during the last quarter. Sound Income Strategies LLC lifted its position in shares of Blackstone Secured Lending Fund by 181.2% in the third quarter. Sound Income Strategies LLC now owns 1,209 shares of the company’s stock worth $33,000 after purchasing an additional 779 shares in the last quarter. Finally, PSI Advisors LLC acquired a new position in Blackstone Secured Lending Fund during the third quarter worth $34,000. Institutional investors and hedge funds own 36.49% of the company’s stock.

Blackstone Secured Lending Fund Stock Up 0.3 %

BXSL stock opened at $31.29 on Wednesday. Blackstone Secured Lending Fund has a twelve month low of $24.83 and a twelve month high of $31.71. The company has a market cap of $6.00 billion, a P/E ratio of 8.57 and a beta of 0.49. The business has a fifty day moving average of $30.23 and a 200-day moving average of $28.68.

Blackstone Secured Lending Fund (NYSE:BXSL) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Blackstone Secured Lending Fund had a return on equity of 14.44% and a net margin of 53.50%. The firm had revenue of $304.00 million during the quarter, compared to analyst estimates of $290.58 million. As a group, equities research analysts anticipate that Blackstone Secured Lending Fund will post 3.63 earnings per share for the current fiscal year.

Blackstone Secured Lending Fund Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Sunday, March 31st will be given a $0.77 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $3.08 annualized dividend and a dividend yield of 9.84%. Blackstone Secured Lending Fund’s dividend payout ratio is presently 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).