Blackstone Secured Lending Fund (NYSE:BXSL) Receives $30.92 Average PT from Brokerages

Shares of Blackstone Secured Lending Fund (NYSE:BXSLGet Free Report) have been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $30.92.

Several brokerages have commented on BXSL. Raymond James restated a “market perform” rating on shares of Blackstone Secured Lending Fund in a research report on Thursday, February 29th. Citigroup boosted their target price on shares of Blackstone Secured Lending Fund from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Truist Financial lifted 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. JPMorgan Chase & Co. lifted their price target on 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. Finally, Bank of America raised Blackstone Secured Lending Fund from a “neutral” rating to a “buy” rating in a research note on Monday, March 25th.

Get Our Latest Stock Report on Blackstone Secured Lending Fund

Blackstone Secured Lending Fund Price Performance

NYSE:BXSL opened at $31.54 on Thursday. The firm has a market cap of $6.07 billion, a price-to-earnings ratio of 8.41 and a beta of 0.45. Blackstone Secured Lending Fund has a 1-year low of $25.83 and a 1-year high of $32.67. The firm’s fifty day moving average price is $31.25 and its 200 day moving average price is $29.76.

Blackstone Secured Lending Fund (NYSE:BXSLGet Free Report) last issued its earnings results on Wednesday, May 8th. The company reported $0.87 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.05). The company had revenue of $303.96 million for the quarter, compared to analysts’ expectations of $305.08 million. Blackstone Secured Lending Fund had a return on equity of 14.06% and a net margin of 55.54%. As a group, analysts expect that Blackstone Secured Lending Fund will post 3.56 earnings per share for the current fiscal year.

Blackstone Secured Lending Fund Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Sunday, June 30th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 9.77%. The ex-dividend date of this dividend is Friday, June 28th. Blackstone Secured Lending Fund’s payout ratio is 82.13%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Mariner LLC raised its stake in Blackstone Secured Lending Fund by 52.3% in the 3rd quarter. Mariner LLC now owns 329,871 shares of the company’s stock valued at $9,025,000 after purchasing an additional 113,332 shares during the last quarter. Barclays PLC purchased a new stake in Blackstone Secured Lending Fund in the 3rd quarter valued at about $801,000. Dark Forest Capital Management LP grew its holdings in Blackstone Secured Lending Fund by 104.3% in the 3rd quarter. Dark Forest Capital Management LP now owns 83,136 shares of the company’s stock valued at $2,275,000 after buying an additional 42,447 shares during the period. UBS Group AG grew its holdings in Blackstone Secured Lending Fund by 16.1% in the 3rd quarter. UBS Group AG now owns 655,524 shares of the company’s stock valued at $17,935,000 after buying an additional 91,109 shares during the period. Finally, Muzinich & Co. Inc. grew its holdings in Blackstone Secured Lending Fund by 2.1% in the 3rd quarter. Muzinich & Co. Inc. now owns 370,965 shares of the company’s stock valued at $10,150,000 after buying an additional 7,501 shares during the period. Institutional investors and hedge funds own 36.49% of the company’s stock.

Blackstone Secured Lending Fund Company Profile

(Get Free Report

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).

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Analyst Recommendations for Blackstone Secured Lending Fund (NYSE:BXSL)

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