Blackstone Secured Lending Fund (NYSE:BXSL) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Blackstone Secured Lending Fund (NYSE:BXSL) has earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $30.92.

Several research firms have weighed in on BXSL. Raymond James reiterated a “market perform” rating on shares of Blackstone Secured Lending Fund in a report on Thursday, February 29th. Wells Fargo & Company increased their target price on Blackstone Secured Lending Fund from $28.50 to $30.50 and gave the stock an “overweight” rating in a research note on Monday, January 29th. Bank of America raised shares of Blackstone Secured Lending Fund from a “neutral” rating to a “buy” rating in a research note on Monday, March 25th. JPMorgan Chase & Co. increased their price objective on shares of Blackstone Secured Lending Fund from $30.00 to $31.50 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Finally, Truist Financial boosted their price objective on shares of Blackstone Secured Lending Fund from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, February 29th.

Blackstone Secured Lending Fund Trading Up 0.9 %

Blackstone Secured Lending Fund stock opened at $31.90 on Wednesday. The firm has a market capitalization of $6.11 billion, a P/E ratio of 8.74 and a beta of 0.49. The business has a 50-day moving average of $30.42 and a 200-day moving average of $28.83. Blackstone Secured Lending Fund has a 1 year low of $24.83 and a 1 year high of $31.99.

Blackstone Secured Lending Fund (NYSE:BXSL) last issued its earnings results on Wednesday, February 28th. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. The firm had revenue of $304.00 million during the quarter, compared to the consensus estimate of $290.58 million. Blackstone Secured Lending Fund had a net margin of 53.50% and a return on equity of 14.44%. Research analysts anticipate that Blackstone Secured Lending Fund will post 3.63 EPS for the current fiscal year.

Blackstone Secured Lending Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Sunday, March 31st will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 9.66%. The ex-dividend date is Wednesday, March 27th. Blackstone Secured Lending Fund’s payout ratio is 84.38%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Sound Income Strategies LLC raised its position in 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 worth $33,000 after acquiring an additional 779 shares in the last quarter. PSI Advisors LLC acquired a new position in Blackstone Secured Lending Fund during the third quarter worth approximately $34,000. Activest Wealth Management bought a new stake in Blackstone Secured Lending Fund in the fourth quarter valued at approximately $36,000. Citigroup Inc. lifted its position in shares of Blackstone Secured Lending Fund by 1,159.1% in the third quarter. Citigroup Inc. now owns 1,385 shares of the company’s stock valued at $38,000 after buying an additional 1,275 shares during the last quarter. Finally, Gradient Investments LLC bought a new position in shares of Blackstone Secured Lending Fund during the 3rd quarter worth approximately $55,000. 36.49% of the stock is currently owned by 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).