Blackstone Secured Lending Fund (NYSE:BXSL) Price Target Lowered to $24.00 at JPMorgan Chase & Co.

Blackstone Secured Lending Fund (NYSE:BXSL) had its price target cut by investment analysts at JPMorgan Chase & Co. from $27.00 to $24.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 1.76% from the company’s previous close.

BXSL has been the topic of a number of other research reports. Keefe, Bruyette & Woods cut their target price on shares of Blackstone Secured Lending Fund from $29.00 to $27.00 and set an “outperform” rating on the stock in a research note on Thursday, February 26th. Truist Financial lowered their price objective on shares of Blackstone Secured Lending Fund from $33.00 to $30.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. Bank of America reduced their target price on shares of Blackstone Secured Lending Fund from $33.50 to $29.00 and set a “buy” rating on the stock in a research report on Friday, November 28th. Wall Street Zen downgraded shares of Blackstone Secured Lending Fund from a “hold” rating to a “sell” rating in a research note on Sunday, March 1st. Finally, Wells Fargo & Company downgraded shares of Blackstone Secured Lending Fund from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $26.00 to $24.00 in a research note on Wednesday, January 7th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $27.50.

Blackstone Secured Lending Fund Stock Performance

Blackstone Secured Lending Fund stock traded down $0.13 during trading on Friday, reaching $23.59. The company had a trading volume of 1,215,568 shares, compared to its average volume of 2,463,475. Blackstone Secured Lending Fund has a 12-month low of $23.30 and a 12-month high of $33.73. The stock’s 50 day moving average price is $25.18 and its two-hundred day moving average price is $26.57. The firm has a market capitalization of $5.48 billion, a price-to-earnings ratio of 9.60 and a beta of 0.43.

Blackstone Secured Lending Fund (NYSE:BXSL) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.01. Blackstone Secured Lending Fund had a net margin of 39.69% and a return on equity of 11.82%. The company had revenue of $196.54 million for the quarter, compared to the consensus estimate of $359.59 million. As a group, research analysts expect that Blackstone Secured Lending Fund will post 3.54 earnings per share for the current year.

Institutional Trading of Blackstone Secured Lending Fund

Several hedge funds have recently bought and sold shares of BXSL. Armstrong Advisory Group Inc. raised its holdings in shares of Blackstone Secured Lending Fund by 135.1% during the fourth quarter. Armstrong Advisory Group Inc. now owns 999 shares of the company’s stock valued at $26,000 after buying an additional 574 shares during the last quarter. Evolution Wealth Management Inc. bought a new position in shares of Blackstone Secured Lending Fund during the 2nd quarter valued at about $37,000. Osterweis Capital Management Inc. acquired a new position in shares of Blackstone Secured Lending Fund in the 4th quarter worth approximately $33,000. Hilton Head Capital Partners LLC bought a new stake in shares of Blackstone Secured Lending Fund in the 4th quarter worth approximately $34,000. Finally, SHP Wealth Management acquired a new stake in Blackstone Secured Lending Fund during the fourth quarter valued at approximately $48,000. 36.49% of the stock is currently owned by institutional investors.

Blackstone Secured Lending Fund Company Profile

Blackstone Secured Lending Fund (NYSE: BXSL) is a closed-end management investment company sponsored by Blackstone Credit, the credit-oriented business of Blackstone Inc Launched in May 2020, BXSL seeks to deliver attractive risk-adjusted returns primarily through current income and, to a lesser extent, capital appreciation. The fund raises capital from institutional and retail investors and deploys it into a diversified portfolio of senior secured loans and other credit instruments.

The fund’s principal investment focus is on first-lien senior secured loans and unitranche debt extended to middle-market companies across North America.