Blackstone Secured Lending Fund (NYSE:BXSL) Now Covered by Analysts at B. Riley

Research analysts at B. Riley assumed coverage on shares of Blackstone Secured Lending Fund (NYSE:BXSL) in a research report issued to clients and investors on Wednesday, MarketBeat reports. The firm set a “buy” rating on the stock.

Several other analysts also recently commented on BXSL. Wall Street Zen downgraded shares of Blackstone Secured Lending Fund from a “hold” rating to a “sell” rating in a research report on Saturday, September 13th. Wells Fargo & Company upped their price target on shares of Blackstone Secured Lending Fund from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Thursday, August 7th. Royal Bank Of Canada reduced their price target on shares of Blackstone Secured Lending Fund from $33.00 to $32.00 and set an “outperform” rating for the company in a research report on Thursday, September 4th. Finally, UBS Group assumed coverage on shares of Blackstone Secured Lending Fund in a research report on Thursday, September 11th. They issued a “neutral” rating and a $31.00 price target for the company. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $31.41.

Blackstone Secured Lending Fund Stock Up 0.9%

Shares of Blackstone Secured Lending Fund stock opened at $27.30 on Wednesday. Blackstone Secured Lending Fund has a 52-week low of $25.89 and a 52-week high of $34.64. The company has a 50 day moving average of $29.88 and a 200 day moving average of $30.56. The company has a market capitalization of $6.29 billion, a P/E ratio of 9.61 and a beta of 0.45.

Blackstone Secured Lending Fund (NYSE:BXSL) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.04). Blackstone Secured Lending Fund had a return on equity of 12.07% and a net margin of 44.25%.The firm had revenue of $344.80 million during the quarter, compared to analysts’ expectations of $353.55 million. As a group, research analysts anticipate that Blackstone Secured Lending Fund will post 3.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BXSL. CCLA Investment Management lifted its holdings in Blackstone Secured Lending Fund by 54.1% in the 1st quarter. CCLA Investment Management now owns 3,214,583 shares of the company’s stock valued at $104,023,000 after purchasing an additional 1,128,986 shares in the last quarter. Bank of America Corp DE lifted its holdings in Blackstone Secured Lending Fund by 11.9% in the 2nd quarter. Bank of America Corp DE now owns 7,820,346 shares of the company’s stock valued at $240,476,000 after purchasing an additional 832,179 shares in the last quarter. Northeast Financial Consultants Inc lifted its holdings in Blackstone Secured Lending Fund by 33.1% in the 1st quarter. Northeast Financial Consultants Inc now owns 3,142,688 shares of the company’s stock valued at $101,697,000 after purchasing an additional 781,394 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in Blackstone Secured Lending Fund by 106.0% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,166,150 shares of the company’s stock valued at $35,859,000 after purchasing an additional 600,150 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Blackstone Secured Lending Fund by 28.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,360,310 shares of the company’s stock valued at $41,830,000 after purchasing an additional 297,519 shares in the last quarter. 36.49% of the stock is currently owned by hedge funds and other 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).