Blackstone Secured Lending Fund (NYSE:BXSL) Receives $30.42 Average PT from Analysts

Blackstone Secured Lending Fund (NYSE:BXSL) has earned an average recommendation of “Moderate Buy” from the seven analysts that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $30.42.

Several equities analysts have issued reports on the stock. Citigroup lifted their price target on shares of Blackstone Secured Lending Fund from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Wells Fargo & Company increased their price objective on shares of Blackstone Secured Lending Fund from $28.50 to $30.50 and gave the company an “overweight” rating in a research report on Monday, January 29th. Bank of America upgraded shares of Blackstone Secured Lending Fund from a “neutral” rating to a “buy” rating in a research note on Monday. Truist Financial boosted their price objective on shares of Blackstone Secured Lending Fund from $30.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Finally, Raymond James reaffirmed a “market perform” rating on shares of Blackstone Secured Lending Fund in a research report on Thursday, February 29th.

Blackstone Secured Lending Fund Stock Performance

NYSE:BXSL opened at $30.81 on Friday. The firm has a market cap of $5.90 billion, a P/E ratio of 8.44 and a beta of 0.47. The firm has a 50-day simple moving average of $29.48 and a 200-day simple moving average of $28.37. Blackstone Secured Lending Fund has a one year low of $23.82 and a one year high of $31.71.

Blackstone Secured Lending Fund (NYSE:BXSL) last announced its earnings results on Wednesday, February 28th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.04. The business had revenue of $304.00 million for the quarter, compared to analysts’ expectations of $290.58 million. Blackstone Secured Lending Fund had a return on equity of 14.44% and a net margin of 53.50%. On average, research analysts predict that Blackstone Secured Lending Fund will post 3.62 EPS for the current fiscal year.

Blackstone Secured Lending Fund Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Sunday, March 31st will be paid a $0.77 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 10.00%. Blackstone Secured Lending Fund’s payout ratio is 84.38%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. boosted its holdings in Blackstone Secured Lending Fund by 57.1% during the second quarter. PNC Financial Services Group Inc. now owns 1,034 shares of the company’s stock worth $28,000 after buying an additional 376 shares in the last quarter. Fortis Capital Advisors LLC acquired a new stake in shares of Blackstone Secured Lending Fund during the 1st quarter valued at about $27,000. Sound Income Strategies LLC raised its holdings in Blackstone Secured Lending Fund by 181.2% in the 3rd quarter. Sound Income Strategies LLC now owns 1,209 shares of the company’s stock worth $33,000 after purchasing an additional 779 shares during the period. PSI Advisors LLC purchased a new position in Blackstone Secured Lending Fund during the third quarter worth approximately $34,000. Finally, Belpointe Asset Management LLC grew its holdings in Blackstone Secured Lending Fund by 1,090.7% in the first quarter. Belpointe Asset Management LLC now owns 1,286 shares of the company’s stock valued at $32,000 after purchasing an additional 1,178 shares during the period. 36.49% of the stock is owned by institutional investors and hedge funds.

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).