Wells Fargo & Company Has Lowered Expectations for Blackstone Secured Lending Fund (NYSE:BXSL) Stock Price

Blackstone Secured Lending Fund (NYSE:BXSL) had its price objective dropped by equities researchers at Wells Fargo & Company from $31.00 to $29.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target points to a potential downside of 3.11% from the stock’s previous close.

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

Blackstone Secured Lending Fund Price Performance

Shares of BXSL traded up $0.29 during trading hours on Monday, hitting $29.93. The company’s stock had a trading volume of 65,558 shares, compared to its average volume of 1,285,893. The company has a market cap of $6.82 billion, a price-to-earnings ratio of 8.31 and a beta of 0.43. The business has a 50 day simple moving average of $31.35 and a two-hundred day simple moving average of $31.80. Blackstone Secured Lending Fund has a 52-week low of $25.89 and a 52-week high of $34.64.

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

Hedge Funds Weigh In On Blackstone Secured Lending Fund

A number of institutional investors have recently made changes to their positions in BXSL. Pine Valley Investments Ltd Liability Co grew its position in Blackstone Secured Lending Fund by 3.8% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 160,686 shares of the company’s stock worth $4,709,000 after acquiring an additional 5,837 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Blackstone Secured Lending Fund in the 3rd quarter worth about $1,506,000. Tidal Investments LLC increased its position in shares of Blackstone Secured Lending Fund by 7.4% during the 3rd quarter. Tidal Investments LLC now owns 13,960 shares of the company’s stock valued at $409,000 after purchasing an additional 960 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Blackstone Secured Lending Fund by 25.3% during the 3rd quarter. Franklin Resources Inc. now owns 373,995 shares of the company’s stock valued at $11,156,000 after buying an additional 75,535 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Blackstone Secured Lending Fund by 4.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,032,508 shares of the company’s stock worth $30,242,000 after buying an additional 46,771 shares during the last quarter. Institutional investors own 36.49% of the company’s stock.

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).