Blackstone Secured Lending Fund (NYSE:BXSL) Lowered to Sell Rating by Wall Street Zen

Blackstone Secured Lending Fund (NYSE:BXSL) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Other analysts also recently issued research reports about the stock. UBS Group began coverage on shares of Blackstone Secured Lending Fund in a report on Thursday. They issued a “neutral” rating and a $31.00 target price for the company. Royal Bank Of Canada dropped their target price on shares of Blackstone Secured Lending Fund from $33.00 to $32.00 and set an “outperform” rating for the company in a report on Thursday, September 4th. Finally, Wells Fargo & Company boosted their price target on shares of Blackstone Secured Lending Fund from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 7th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Blackstone Secured Lending Fund has an average rating of “Moderate Buy” and a consensus target price of $31.32.

Blackstone Secured Lending Fund Stock Performance

Blackstone Secured Lending Fund stock opened at $28.57 on Friday. Blackstone Secured Lending Fund has a fifty-two week low of $25.89 and a fifty-two week high of $34.64. The firm has a 50 day moving average price of $30.63 and a 200 day moving average price of $30.90. The company has a market capitalization of $6.58 billion, a PE ratio of 10.06 and a beta of 0.45.

Blackstone Secured Lending Fund (NYSE:BXSL) last posted its earnings results on Wednesday, August 6th. The company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.04). Blackstone Secured Lending Fund had a net margin of 44.25% and a return on equity of 12.07%. The company had revenue of $344.80 million during the quarter, compared to analyst estimates of $353.55 million. As a group, equities research analysts forecast that Blackstone Secured Lending Fund will post 3.54 earnings per share for the current year.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

A number of institutional investors and hedge funds have recently bought and sold shares of BXSL. Wealth Preservation Advisors LLC acquired a new position in Blackstone Secured Lending Fund in the first quarter valued at $30,000. Evolution Wealth Management Inc. acquired a new position in shares of Blackstone Secured Lending Fund during the second quarter worth about $37,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Blackstone Secured Lending Fund by 45.1% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,270 shares of the company’s stock worth $41,000 after acquiring an additional 395 shares during the period. Spire Wealth Management grew its position in Blackstone Secured Lending Fund by 109.6% during the second quarter. Spire Wealth Management now owns 1,467 shares of the company’s stock worth $45,000 after buying an additional 767 shares during the period. Finally, Ameriflex Group Inc. acquired a new position in Blackstone Secured Lending Fund during the fourth quarter worth about $55,000. 36.49% of the stock is owned by hedge funds and other institutional investors.

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).