Blackstone Secured Lending Fund (NYSE:BXSL) Upgraded at Bank of America

Bank of America upgraded shares of Blackstone Secured Lending Fund (NYSE:BXSL) from a neutral rating to a buy rating in a report issued on Monday, MarketBeat Ratings reports.

Several other research analysts have also issued reports on the stock. Raymond James restated a market perform rating on shares of Blackstone Secured Lending Fund in a report on Thursday, February 29th. Wells Fargo & Company raised their price target on shares of Blackstone Secured Lending Fund from $28.50 to $30.50 and gave the stock an overweight rating in a report on Monday, January 29th. Truist Financial raised their price target on shares of Blackstone Secured Lending Fund from $30.00 to $32.00 and gave the stock a buy rating in a report on Thursday, February 29th. Finally, Citigroup raised their price target on shares of Blackstone Secured Lending Fund from $30.00 to $31.00 and gave the stock a buy rating in a report on Thursday, February 29th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $30.42.

Blackstone Secured Lending Fund Trading Down 2.0 %

BXSL opened at $30.81 on Monday. The company’s 50 day moving average is $29.48 and its 200-day moving average is $28.37. Blackstone Secured Lending Fund has a 1-year low of $23.82 and a 1-year high of $31.71. The company has a market cap of $5.90 billion, a P/E ratio of 8.44 and a beta of 0.47.

Blackstone Secured Lending Fund (NYSE:BXSL) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. The business had revenue of $304.00 million during the quarter, compared to analyst estimates of $290.58 million. Blackstone Secured Lending Fund had a net margin of 53.50% and a return on equity of 14.44%. On average, equities analysts forecast that Blackstone Secured Lending Fund will post 3.62 EPS for the current year.

Blackstone Secured Lending Fund Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Sunday, March 31st will be paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 10.00%. The ex-dividend date of this dividend is Wednesday, March 27th. Blackstone Secured Lending Fund’s payout ratio is 84.38%.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PSI Advisors LLC bought a new stake in Blackstone Secured Lending Fund in the 3rd quarter valued at about $34,000. Institute for Wealth Management LLC. bought a new stake in shares of Blackstone Secured Lending Fund during the third quarter valued at about $1,026,000. Sound Income Strategies LLC increased its position in shares of Blackstone Secured Lending Fund by 181.2% during the third quarter. Sound Income Strategies LLC now owns 1,209 shares of the company’s stock valued at $33,000 after buying an additional 779 shares during the period. Ronald Blue Trust Inc. increased its position in shares of Blackstone Secured Lending Fund by 16.7% during the third quarter. Ronald Blue Trust Inc. now owns 170,755 shares of the company’s stock valued at $4,672,000 after buying an additional 24,455 shares during the period. Finally, Destiny Wealth Partners LLC increased its position in shares of Blackstone Secured Lending Fund by 11.4% during the third quarter. Destiny Wealth Partners LLC now owns 311,498 shares of the company’s stock valued at $8,523,000 after buying an additional 31,940 shares during the period. 36.49% of the stock is currently owned by 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).