Keefe, Bruyette & Woods Cuts Blackstone Secured Lending Fund (NYSE:BXSL) Price Target to $26.00

Blackstone Secured Lending Fund (NYSE:BXSL) had its target price dropped by equities research analysts at Keefe, Bruyette & Woods from $27.00 to $26.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 4.99% from the company’s previous close.

A number of other research analysts have also issued reports on BXSL. B. Riley Financial lowered Blackstone Secured Lending Fund from a “buy” rating to a “neutral” rating and set a $24.50 target price on the stock. in a report on Thursday, April 9th. UBS Group dropped their target price on Blackstone Secured Lending Fund from $27.50 to $24.75 and set a “neutral” rating on the stock in a report on Friday, March 13th. Royal Bank Of Canada dropped their price target on shares of Blackstone Secured Lending Fund from $29.00 to $28.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 3rd. Truist Financial dropped their price target on shares of Blackstone Secured Lending Fund from $33.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. Finally, Wall Street Zen lowered shares of Blackstone Secured Lending Fund from a “hold” rating to a “sell” rating in a research note on Sunday, March 1st. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $26.28.

Blackstone Secured Lending Fund Stock Performance

Shares of NYSE:BXSL opened at $24.77 on Thursday. The company has a 50-day simple moving average of $24.11 and a 200-day simple moving average of $25.76. Blackstone Secured Lending Fund has a one year low of $22.47 and a one year high of $32.81. The stock has a market capitalization of $5.75 billion, a price-to-earnings ratio of 10.07 and a beta of 0.40.

Blackstone Secured Lending Fund (NYSE:BXSL) last announced its earnings results on Wednesday, February 25th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.01. The business had revenue of $196.54 million during the quarter, compared to analysts’ expectations of $359.59 million. Blackstone Secured Lending Fund had a net margin of 39.69% and a return on equity of 11.82%. As a group, research analysts forecast that Blackstone Secured Lending Fund will post 3.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Large investors have recently made changes to their positions in the stock. Generali Asset Management SPA SGR increased its holdings in shares of Blackstone Secured Lending Fund by 1.6% in the 3rd quarter. Generali Asset Management SPA SGR now owns 2,044,480 shares of the company’s stock valued at $53,300,000 after purchasing an additional 32,776 shares in the last quarter. Amplius Wealth Advisors LLC grew its holdings in shares of Blackstone Secured Lending Fund by 7.6% in the 3rd quarter. Amplius Wealth Advisors LLC now owns 568,826 shares of the company’s stock worth $14,829,000 after acquiring an additional 40,414 shares during the period. CV Advisors LLC grew its holdings in shares of Blackstone Secured Lending Fund by 27.9% in the 3rd quarter. CV Advisors LLC now owns 15,388 shares of the company’s stock worth $401,000 after acquiring an additional 3,358 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of Blackstone Secured Lending Fund by 252.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 27,535 shares of the company’s stock worth $718,000 after acquiring an additional 19,720 shares during the period. Finally, Joseph P. Lucia & Associates LLC grew its holdings in shares of Blackstone Secured Lending Fund by 2.0% in the 3rd quarter. Joseph P. Lucia & Associates LLC now owns 45,646 shares of the company’s stock worth $1,190,000 after acquiring an additional 907 shares during the period. Hedge funds and other institutional investors own 36.49% of the company’s stock.

About Blackstone Secured Lending Fund

Blackstone Secured Lending Fund (NYSE: BXSL) is a closed-end management investment company sponsored by Blackstone Credit, the credit-oriented business of Blackstone Inc Launched in May 2020, BXSL seeks to deliver attractive risk-adjusted returns primarily through current income and, to a lesser extent, capital appreciation. The fund raises capital from institutional and retail investors and deploys it into a diversified portfolio of senior secured loans and other credit instruments.

The fund’s principal investment focus is on first-lien senior secured loans and unitranche debt extended to middle-market companies across North America.