Blackstone Secured Lending Fund (NYSE:BXSL) PT Lowered to $31.50

Blackstone Secured Lending Fund (NYSE:BXSL) had its price target reduced by equities researchers at JPMorgan Chase & Co. from $32.00 to $31.50 in a note issued to investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 2.91% from the stock’s current price.

Blackstone Secured Lending Fund Price Performance

Shares of NYSE:BXSL traded down $0.14 during midday trading on Monday, hitting $30.61. 142,916 shares of the company’s stock were exchanged, compared to its average volume of 909,998. Blackstone Secured Lending Fund has a 12 month low of $25.83 and a 12 month high of $32.67. The company has a market cap of $6.08 billion, a PE ratio of 8.16 and a beta of 0.45. The stock has a 50 day moving average price of $31.04 and a 200-day moving average price of $30.46.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Blackstone Secured Lending Fund in the second quarter valued at about $32,000. Citigroup Inc. lifted its stake in shares of Blackstone Secured Lending Fund by 1,159.1% during the 3rd quarter. Citigroup Inc. now owns 1,385 shares of the company’s stock valued at $38,000 after buying an additional 1,275 shares in the last quarter. PSI Advisors LLC lifted its stake in shares of Blackstone Secured Lending Fund by 68.0% during the 1st quarter. PSI Advisors LLC now owns 2,100 shares of the company’s stock valued at $65,000 after buying an additional 850 shares in the last quarter. Cape Investment Advisory Inc. purchased a new stake in shares of Blackstone Secured Lending Fund during the 4th quarter valued at approximately $65,000. Finally, Security National Bank purchased a new stake in shares of Blackstone Secured Lending Fund during the 4th quarter valued at approximately $73,000. 36.49% of the stock is currently 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).