Blackstone Secured Lending Fund (NYSE:BXSL) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Blackstone Secured Lending Fund (NYSE:BXSL) have been given an average rating of “Moderate Buy” by the seven analysts that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $31.80.

Several analysts have issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $33.00 target price on shares of Blackstone Secured Lending Fund in a research report on Wednesday, August 14th. JPMorgan Chase & Co. raised their price objective on Blackstone Secured Lending Fund from $31.50 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Finally, Wells Fargo & Company lowered their price objective on Blackstone Secured Lending Fund from $32.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th.

Blackstone Secured Lending Fund Stock Up 0.8 %

BXSL opened at $30.64 on Wednesday. The stock’s fifty day moving average is $30.25 and its two-hundred day moving average is $30.68. The company has a market capitalization of $6.32 billion, a P/E ratio of 7.94 and a beta of 0.42. Blackstone Secured Lending Fund has a 52 week low of $27.23 and a 52 week high of $32.67.

Blackstone Secured Lending Fund (NYSE:BXSL) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.01). The firm had revenue of $327.06 million for the quarter, compared to analysts’ expectations of $310.23 million. Blackstone Secured Lending Fund had a return on equity of 13.36% and a net margin of 58.08%. During the same quarter in the previous year, the business earned $1.06 earnings per share. Equities analysts anticipate that Blackstone Secured Lending Fund will post 3.56 earnings per share for the current year.

Institutional Trading of Blackstone Secured Lending Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. MQS Management LLC lifted its position in Blackstone Secured Lending Fund by 292.7% during the 3rd quarter. MQS Management LLC now owns 25,754 shares of the company’s stock worth $754,000 after acquiring an additional 19,195 shares during the period. Barnett & Company Inc. raised its stake in shares of Blackstone Secured Lending Fund by 29.0% during the 3rd quarter. Barnett & Company Inc. now owns 59,604 shares of the company’s stock valued at $1,746,000 after buying an additional 13,392 shares during the last quarter. Aigen Investment Management LP purchased a new position in shares of Blackstone Secured Lending Fund during the 3rd quarter valued at about $251,000. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Blackstone Secured Lending Fund by 11.2% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 337,002 shares of the company’s stock valued at $9,871,000 after buying an additional 34,021 shares during the last quarter. Finally, First National Trust Co raised its stake in shares of Blackstone Secured Lending Fund by 206.5% during the 3rd quarter. First National Trust Co now owns 97,966 shares of the company’s stock valued at $2,869,000 after buying an additional 66,007 shares during the last quarter. Institutional investors and hedge funds own 36.49% of the company’s stock.

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).