Royal Bank Of Canada Has Lowered Expectations for Blackstone Secured Lending Fund (NYSE:BXSL) Stock Price

Blackstone Secured Lending Fund (NYSE:BXSL) had its price objective decreased by equities research analysts at Royal Bank Of Canada from $32.00 to $29.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective suggests a potential upside of 8.25% from the stock’s previous close.

BXSL has been the subject of several other research reports. Zacks Research upgraded Blackstone Secured Lending Fund from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. B. Riley lowered their price target on Blackstone Secured Lending Fund from $32.00 to $30.00 and set a “buy” rating on the stock in a research report on Wednesday. Keefe, Bruyette & Woods dropped their target price on shares of Blackstone Secured Lending Fund from $30.00 to $29.00 and set an “outperform” rating on the stock in a research report on Tuesday. Wells Fargo & Company reduced their price objective on Blackstone Secured Lending Fund from $28.00 to $26.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Blackstone Secured Lending Fund from $30.50 to $29.00 and set an “overweight” rating for the company in a research note on Wednesday, October 1st. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $29.78.

Blackstone Secured Lending Fund Stock Up 0.5%

BXSL stock traded up $0.14 during trading hours on Wednesday, hitting $26.79. The company’s stock had a trading volume of 39,258 shares, compared to its average volume of 1,367,266. The stock has a 50 day moving average price of $26.97 and a two-hundred day moving average price of $29.58. Blackstone Secured Lending Fund has a 12 month low of $24.85 and a 12 month high of $34.64. The company has a market capitalization of $6.17 billion, a PE ratio of 10.07 and a beta of 0.42.

Blackstone Secured Lending Fund (NYSE:BXSL) last released its quarterly earnings data on Monday, November 10th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.02. The business had revenue of $358.56 million during the quarter, compared to analyst estimates of $353.55 million. Blackstone Secured Lending Fund had a net margin of 42.38% and a return on equity of 11.89%. Sell-side analysts expect that Blackstone Secured Lending Fund will post 3.54 earnings per share for the current year.

Insider Activity at Blackstone Secured Lending Fund

In related news, insider Robert J. Bass acquired 3,760 shares of the company’s stock in a transaction that occurred on Monday, October 6th. The stock was purchased at an average price of $26.63 per share, for a total transaction of $100,128.80. Following the transaction, the insider directly owned 21,167 shares of the company’s stock, valued at approximately $563,677.21. This trade represents a 21.60% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Several large investors have recently made changes to their positions in the company. Wealth Preservation Advisors LLC bought a new position in Blackstone Secured Lending Fund in the first quarter valued at about $30,000. Evolution Wealth Management Inc. acquired a new position in Blackstone Secured Lending Fund during the 2nd quarter valued at about $37,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Blackstone Secured Lending Fund by 45.1% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,270 shares of the company’s stock valued at $41,000 after purchasing an additional 395 shares during the last quarter. Spire Wealth Management grew its position in shares of Blackstone Secured Lending Fund by 109.6% during the 2nd quarter. Spire Wealth Management now owns 1,467 shares of the company’s stock worth $45,000 after buying an additional 767 shares during the period. Finally, Westfuller Advisors LLC bought a new stake in shares of Blackstone Secured Lending Fund in the 3rd quarter valued at about $53,000. Institutional investors and hedge funds own 36.49% of the company’s stock.

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).