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

Shares of Blackstone Secured Lending Fund (NYSE:BXSL) have earned an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the firm, Marketbeat Ratings reports. One research 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 issued a report on the stock in the last year is $30.42.

BXSL has been the subject of several research reports. Raymond James reissued a “market perform” rating on shares of Blackstone Secured Lending Fund in a research note on Thursday, February 29th. Truist Financial upped their price target on Blackstone Secured Lending Fund from $30.00 to $32.00 and gave the stock a “buy” rating 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. Wells Fargo & Company increased their target price on shares of 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. Finally, Citigroup lifted their price target on shares of Blackstone Secured Lending Fund from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, February 29th.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. raised its stake in shares of Blackstone Secured Lending Fund by 57.1% during the second quarter. PNC Financial Services Group Inc. now owns 1,034 shares of the company’s stock valued at $28,000 after purchasing an additional 376 shares during the period. Fortis Capital Advisors LLC purchased a new position in shares of Blackstone Secured Lending Fund in the first quarter valued at $27,000. Sound Income Strategies LLC grew its holdings in Blackstone Secured Lending Fund by 181.2% during the 3rd quarter. Sound Income Strategies LLC now owns 1,209 shares of the company’s stock valued at $33,000 after purchasing an additional 779 shares in the last quarter. PSI Advisors LLC purchased a new stake in Blackstone Secured Lending Fund during the 3rd quarter worth $34,000. Finally, Belpointe Asset Management LLC increased its stake in Blackstone Secured Lending Fund by 1,090.7% during the 1st quarter. Belpointe Asset Management LLC now owns 1,286 shares of the company’s stock worth $32,000 after buying an additional 1,178 shares during the period. 36.49% of the stock is owned by institutional investors and hedge funds.

Blackstone Secured Lending Fund Price Performance

NYSE BXSL opened at $30.81 on Friday. The company has a market cap of $5.90 billion, a P/E ratio of 8.44 and a beta of 0.47. Blackstone Secured Lending Fund has a 12 month low of $23.82 and a 12 month high of $31.71. The company has a 50-day moving average of $29.48 and a 200-day moving average of $28.37.

Blackstone Secured Lending Fund (NYSE:BXSL) last released its earnings results on Wednesday, February 28th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. Blackstone Secured Lending Fund had a net margin of 53.50% and a return on equity of 14.44%. The firm had revenue of $304.00 million during the quarter, compared to the consensus estimate of $290.58 million. As a group, equities research analysts anticipate that Blackstone Secured Lending Fund will post 3.62 EPS for the current year.

Blackstone Secured Lending Fund Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Sunday, March 31st will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.08 annualized dividend and a dividend yield of 10.00%. Blackstone Secured Lending Fund’s payout ratio 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).