Analysts Set Blackstone Secured Lending Fund (NYSE:BXSL) PT at $31.80

Blackstone Secured Lending Fund (NYSE:BXSL) has been given an average recommendation of “Moderate Buy” by the seven brokerages that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $31.80.

A number of research analysts recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $33.00 target price on shares of Blackstone Secured Lending Fund in a research report on Wednesday, August 14th. Wells Fargo & Company cut their price objective on shares of Blackstone Secured Lending Fund from $32.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. boosted their target price on Blackstone Secured Lending Fund from $31.50 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th.

Blackstone Secured Lending Fund Trading Down 0.4 %

Shares of Blackstone Secured Lending Fund stock opened at $30.40 on Tuesday. The company has a market cap of $5.85 billion, a P/E ratio of 8.11 and a beta of 0.44. The business has a 50-day moving average price of $30.07 and a two-hundred day moving average price of $30.77. Blackstone Secured Lending Fund has a 1-year low of $25.83 and a 1-year high of $32.67.

Blackstone Secured Lending Fund (NYSE:BXSL) last issued its earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.01). The business had revenue of $327.06 million during the quarter, compared to the consensus estimate of $310.23 million. Blackstone Secured Lending Fund had a return on equity of 13.36% and a net margin of 58.08%. During the same quarter in the previous year, the firm posted $1.06 earnings per share. Equities research analysts forecast that Blackstone Secured Lending Fund will post 3.55 EPS for the current fiscal year.

Blackstone Secured Lending Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, September 30th will be given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 10.13%. The ex-dividend date of this dividend is Monday, September 30th. Blackstone Secured Lending Fund’s payout ratio is presently 82.13%.

Institutional Trading of Blackstone Secured Lending Fund

Several institutional investors and hedge funds have recently modified their holdings of BXSL. Sanctuary Advisors LLC bought a new stake in shares of Blackstone Secured Lending Fund in the 2nd quarter worth $4,707,000. PVG Asset Management Corp purchased a new stake in Blackstone Secured Lending Fund in the 2nd quarter valued at about $218,000. Cetera Investment Advisers lifted its position in shares of Blackstone Secured Lending Fund by 0.5% during the 2nd quarter. Cetera Investment Advisers now owns 155,023 shares of the company’s stock worth $4,747,000 after buying an additional 792 shares in the last quarter. Truist Financial Corp purchased a new position in shares of Blackstone Secured Lending Fund in the 2nd quarter worth approximately $462,000. Finally, Sunbelt Securities Inc. grew its holdings in shares of Blackstone Secured Lending Fund by 2.3% in the second quarter. Sunbelt Securities Inc. now owns 49,113 shares of the company’s stock valued at $1,504,000 after acquiring an additional 1,113 shares in the last quarter. 36.49% of the stock is owned by hedge funds and other institutional investors.

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).