Keefe, Bruyette & Woods Cuts Blackstone Secured Lending Fund (NYSE:BXSL) Price Target to $31.00

Blackstone Secured Lending Fund (NYSE:BXSL) had its target price reduced by Keefe, Bruyette & Woods from $32.00 to $31.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a market perform rating on the stock.

BXSL has been the topic of several other reports. Truist Financial increased their price target on shares of Blackstone Secured Lending Fund from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. JPMorgan Chase & Co. raised their target price on Blackstone Secured Lending Fund from $33.00 to $33.50 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Wells Fargo & Company boosted their price target on Blackstone Secured Lending Fund from $29.00 to $31.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.63.

Blackstone Secured Lending Fund Price Performance

NYSE BXSL opened at $27.31 on Tuesday. Blackstone Secured Lending Fund has a 1-year low of $25.89 and a 1-year high of $34.64. The stock has a market capitalization of $6.22 billion, a price-to-earnings ratio of 7.58 and a beta of 0.43. The business’s fifty day moving average price is $32.44 and its 200-day moving average price is $31.86.

Blackstone Secured Lending Fund (NYSE:BXSL) last released its quarterly 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 firm had revenue of $353.00 million for the quarter, compared to the consensus estimate of $346.52 million. Equities research analysts anticipate that Blackstone Secured Lending Fund will post 3.54 EPS for the current year.

Blackstone Secured Lending Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 31st will be given a $0.77 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.08 annualized dividend and a dividend yield of 11.28%. Blackstone Secured Lending Fund’s payout ratio is 88.76%.

Institutional Trading of Blackstone Secured Lending Fund

Several institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company grew its holdings in Blackstone Secured Lending Fund by 4.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,228 shares of the company’s stock valued at $241,000 after buying an additional 382 shares in the last quarter. Quarry LP bought a new position in shares of Blackstone Secured Lending Fund during the third quarter worth $48,000. Kovitz Investment Group Partners LLC purchased a new position in Blackstone Secured Lending Fund during the third quarter valued at $354,000. MML Investors Services LLC increased its holdings in Blackstone Secured Lending Fund by 8.3% in the 3rd quarter. MML Investors Services LLC now owns 40,850 shares of the company’s stock valued at $1,196,000 after acquiring an additional 3,131 shares during the last quarter. Finally, Sunbelt Securities Inc. lifted its stake in Blackstone Secured Lending Fund by 0.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 49,442 shares of the company’s stock worth $1,448,000 after purchasing an additional 329 shares in the last quarter. Hedge funds and other 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).