Blackstone Secured Lending Fund (NYSE:BXSL) Receives $29.38 Consensus PT from Analysts

Shares of Blackstone Secured Lending Fund (NYSE:BXSL) have been given an average rating of “Moderate Buy” by the nine ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $29.3750.

Several brokerages have commented on BXSL. Royal Bank Of Canada dropped their target price on shares of Blackstone Secured Lending Fund from $32.00 to $29.00 and set an “outperform” rating for the company in a research report on Wednesday, November 12th. UBS Group reduced their price objective on shares of Blackstone Secured Lending Fund from $31.00 to $28.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. Wells Fargo & Company reduced their price target on shares of Blackstone Secured Lending Fund from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 11th. JPMorgan Chase & Co. lowered their price target on Blackstone Secured Lending Fund from $30.50 to $29.00 and set an “overweight” rating for the company in a report on Wednesday, October 1st. Finally, B. Riley lowered their target price on Blackstone Secured Lending Fund from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday, November 12th.

Insiders Place Their Bets

In other Blackstone Secured Lending Fund news, insider Robert J. Bass purchased 3,760 shares of the stock in a transaction on Monday, October 6th. The shares were purchased at an average cost of $26.63 per share, for a total transaction of $100,128.80. Following the purchase, the insider owned 21,167 shares of the company’s stock, valued at approximately $563,677.21. This represents a 21.60% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

Several large investors have recently made changes to their positions in BXSL. Bank of America Corp DE raised 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 acquiring an additional 832,179 shares during the period. Marshall Wace LLP increased its holdings in shares of Blackstone Secured Lending Fund by 1,160.9% during the third quarter. Marshall Wace LLP now owns 869,964 shares of the company’s stock worth $22,680,000 after purchasing an additional 800,969 shares during the period. Northeast Financial Consultants Inc raised its position in shares of Blackstone Secured Lending Fund by 33.1% in the first quarter. Northeast Financial Consultants Inc now owns 3,142,688 shares of the company’s stock valued at $101,697,000 after buying an additional 781,394 shares in the last quarter. 1832 Asset Management L.P. raised 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 acquiring an additional 600,150 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its position in shares of Blackstone Secured Lending Fund by 121.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,033,229 shares of the company’s stock valued at $26,936,000 after acquiring an additional 566,034 shares during the period. Institutional investors and hedge funds own 36.49% of the company’s stock.

Blackstone Secured Lending Fund Trading Down 0.3%

Shares of BXSL stock opened at $28.10 on Friday. Blackstone Secured Lending Fund has a 1 year low of $24.85 and a 1 year high of $34.64. The firm’s 50 day moving average is $26.82 and its 200-day moving average is $29.03. The firm has a market capitalization of $6.50 billion, a price-to-earnings ratio of 10.56 and a beta of 0.41.

Blackstone Secured Lending Fund (NYSE:BXSL) last posted its quarterly earnings results 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. Blackstone Secured Lending Fund had a return on equity of 11.85% and a net margin of 42.38%.The business had revenue of $358.56 million for the quarter, compared to analysts’ expectations of $353.55 million. On average, equities research analysts forecast that Blackstone Secured Lending Fund will post 3.54 earnings per share for the current fiscal year.

Blackstone Secured Lending Fund Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Wednesday, December 31st will be given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 11.0%. The ex-dividend date of this dividend is Wednesday, December 31st. Blackstone Secured Lending Fund’s dividend payout ratio (DPR) is currently 115.79%.

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).