Analysts Set Blackstone Secured Lending Fund (NYSE:BXSL) Price Target at $32.79

Blackstone Secured Lending Fund (NYSE:BXSL) has earned a consensus recommendation of “Moderate Buy” from the seven analysts that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $32.79.

A number of research firms have weighed in on BXSL. Compass Point cut their price target on shares of Blackstone Secured Lending Fund from $33.50 to $32.25 and set a “buy” rating on the stock in a research note on Friday, November 15th. Wells Fargo & Company increased their target price on Blackstone Secured Lending Fund from $29.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. boosted their price target on Blackstone Secured Lending Fund from $33.00 to $33.50 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Truist Financial upped their price target on Blackstone Secured Lending Fund from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, Keefe, Bruyette & Woods lifted their price objective on Blackstone Secured Lending Fund from $30.50 to $32.00 and gave the company a “market perform” rating in a research note on Thursday, February 27th.

Blackstone Secured Lending Fund Stock Down 2.0 %

BXSL stock opened at $31.33 on Tuesday. The stock has a market capitalization of $7.14 billion, a price-to-earnings ratio of 8.70 and a beta of 0.43. Blackstone Secured Lending Fund has a 52-week low of $27.76 and a 52-week high of $34.64. The stock’s fifty day simple moving average is $32.96 and its 200-day simple moving average is $31.68.

Blackstone Secured Lending Fund (NYSE:BXSL) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.02). The business had revenue of $353.00 million during the quarter, compared to analysts’ expectations of $346.52 million. Blackstone Secured Lending Fund had a net margin of 53.91% and a return on equity of 13.15%. As a group, analysts anticipate that Blackstone Secured Lending Fund will post 3.54 earnings per share for the current fiscal year.

Blackstone Secured Lending Fund Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 31st will be paid a $0.77 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.08 dividend on an annualized basis and a dividend yield of 9.83%. Blackstone Secured Lending Fund’s dividend payout ratio (DPR) is currently 88.76%.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Several hedge funds and other institutional investors have recently bought and sold shares of BXSL. Beacon Capital Management LLC grew its stake in shares of Blackstone Secured Lending Fund by 200.0% during the fourth quarter. Beacon Capital Management LLC now owns 900 shares of the company’s stock valued at $29,000 after acquiring an additional 600 shares in the last quarter. MassMutual Private Wealth & Trust FSB bought a new position in Blackstone Secured Lending Fund during the 4th quarter worth approximately $31,000. CKW Financial Group acquired a new position in shares of Blackstone Secured Lending Fund in the 4th quarter worth approximately $32,000. Transce3nd LLC bought a new stake in shares of Blackstone Secured Lending Fund in the 4th quarter valued at approximately $45,000. Finally, Quarry LP acquired a new stake in shares of Blackstone Secured Lending Fund during the 3rd quarter valued at approximately $48,000. 36.49% of the stock is owned by institutional investors and hedge funds.

About Blackstone Secured Lending Fund

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).