Blackstone Secured Lending Fund (NYSE:BXSL) Sets New 12-Month Low – What’s Next?

Shares of Blackstone Secured Lending Fund (NYSE:BXSL) reached a new 52-week low during trading on Monday . The stock traded as low as $26.97 and last traded at $27.32, with a volume of 818353 shares traded. The stock had previously closed at $29.20.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BXSL shares. Keefe, Bruyette & Woods boosted their price target on Blackstone Secured Lending Fund from $30.50 to $32.00 and gave the company a “market perform” rating in a report on Thursday, February 27th. Truist Financial upped their target price on Blackstone Secured Lending Fund from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. JPMorgan Chase & Co. increased their target price on Blackstone Secured Lending Fund from $33.00 to $33.50 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Wells Fargo & Company lifted 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 research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.79.

Blackstone Secured Lending Fund Stock Performance

The firm has a market capitalization of $6.39 billion, a price-to-earnings ratio of 7.80 and a beta of 0.43. The business has a fifty day moving average price of $33.08 and a 200 day moving average price of $31.99.

Blackstone Secured Lending Fund (NYSE:BXSL) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.02). The firm had revenue of $353.00 million for the quarter, compared to analyst estimates of $346.52 million. Blackstone Secured Lending Fund had a return on equity of 13.15% and a net margin of 53.91%. On average, analysts expect that Blackstone Secured Lending Fund will post 3.54 earnings per share for the current year.

Blackstone Secured Lending Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 31st will be issued a $0.77 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.08 annualized dividend and a yield of 10.98%. Blackstone Secured Lending Fund’s payout ratio is 88.76%.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

Several institutional investors have recently bought and sold shares of BXSL. CWC Advisors LLC. lifted its holdings in shares of Blackstone Secured Lending Fund by 2.8% during the 4th quarter. CWC Advisors LLC. now owns 77,528 shares of the company’s stock valued at $2,505,000 after acquiring an additional 2,136 shares in the last quarter. Comprehensive Money Management Services LLC purchased a new position in Blackstone Secured Lending Fund in the fourth quarter valued at about $560,000. Ameriflex Group Inc. acquired a new position in shares of Blackstone Secured Lending Fund during the fourth quarter worth about $55,000. Sunbelt Securities Inc. boosted its position in shares of Blackstone Secured Lending Fund by 6.9% in the fourth quarter. Sunbelt Securities Inc. now owns 52,846 shares of the company’s stock worth $1,748,000 after buying an additional 3,404 shares during the period. Finally, Two Sigma Investments LP grew its stake in shares of Blackstone Secured Lending Fund by 16.1% in the fourth quarter. Two Sigma Investments LP now owns 209,662 shares of the company’s stock valued at $6,774,000 after buying an additional 29,115 shares in the last quarter. 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).