Blackstone Secured Lending Fund (NYSE:BXSL) Given Consensus Rating of “Moderate Buy” by Brokerages

Blackstone Secured Lending Fund (NYSE:BXSL) has earned a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $31.38.

Several equities analysts have recently issued reports on BXSL shares. Keefe, Bruyette & Woods decreased their price target on shares of Blackstone Secured Lending Fund from $32.00 to $31.00 and set a “market perform” rating for the company in a report on Tuesday, April 8th. JPMorgan Chase & Co. reduced their target price on Blackstone Secured Lending Fund from $33.50 to $30.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. Wells Fargo & Company lowered their price target on Blackstone Secured Lending Fund from $29.00 to $27.00 and set an “equal weight” rating for the company in a report on Thursday, May 8th. Finally, Truist Financial raised their price target on Blackstone Secured Lending Fund from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th.

Insiders Place Their Bets

In other news, insider Robert J. Bass bought 1,626 shares of the business’s stock in a transaction on Tuesday, May 13th. The shares were purchased at an average price of $30.78 per share, for a total transaction of $50,048.28. Following the purchase, the insider now owns 17,403 shares of the company’s stock, valued at approximately $535,664.34. The trade was a 10.31% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.12% of the company’s stock.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Hedge funds have recently made changes to their positions in the business. Wealth Preservation Advisors LLC bought a new position in Blackstone Secured Lending Fund in the first quarter valued at $30,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Blackstone Secured Lending Fund by 45.1% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,270 shares of the company’s stock worth $41,000 after buying an additional 395 shares during the last quarter. Transce3nd LLC bought a new position in shares of Blackstone Secured Lending Fund in the 4th quarter valued at about $45,000. Ameriflex Group Inc. bought a new position in shares of Blackstone Secured Lending Fund in the 4th quarter valued at about $55,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Blackstone Secured Lending Fund in the fourth quarter valued at about $60,000. 36.49% of the stock is owned by institutional investors.

Blackstone Secured Lending Fund Trading Up 0.2%

Blackstone Secured Lending Fund stock opened at $31.40 on Thursday. The firm has a market capitalization of $7.16 billion, a P/E ratio of 9.91 and a beta of 0.47. The business has a 50-day moving average of $30.78 and a 200-day moving average of $31.74. Blackstone Secured Lending Fund has a 1 year low of $25.89 and a 1 year high of $34.64.

Blackstone Secured Lending Fund (NYSE:BXSL) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. Blackstone Secured Lending Fund had a net margin of 47.80% and a return on equity of 12.49%. The firm had revenue of $357.76 million during the quarter, compared to analysts’ expectations of $358.40 million. Research analysts anticipate that Blackstone Secured Lending Fund will post 3.54 EPS for the current fiscal year.

Blackstone Secured Lending Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, June 30th will be given a $0.77 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.08 annualized dividend and a yield of 9.81%. Blackstone Secured Lending Fund’s dividend payout ratio is currently 97.16%.

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).