Blackstone Secured Lending Fund (NYSE:BXSL) Receives $29.50 Consensus Target Price from Brokerages

Blackstone Secured Lending Fund (NYSE:BXSLGet Free Report) has received an average recommendation of “Moderate Buy” from the seven research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $29.50.

BXSL has been the subject of a number of recent research reports. JPMorgan Chase & Co. upgraded shares of Blackstone Secured Lending Fund from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $28.00 to $28.50 in a research note on Monday, October 23rd. Truist Financial raised their price target on shares of Blackstone Secured Lending Fund from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, November 10th. Finally, Wells Fargo & Company upped their price objective on Blackstone Secured Lending Fund from $28.50 to $30.50 and gave the company an “overweight” rating in a research note on Monday, January 29th.

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Blackstone Secured Lending Fund Trading Down 0.6 %

BXSL opened at $27.98 on Friday. Blackstone Secured Lending Fund has a 1-year low of $23.61 and a 1-year high of $29.11. The business has a 50 day moving average of $28.18 and a 200-day moving average of $27.82. The stock has a market capitalization of $4.86 billion, a price-to-earnings ratio of 7.93 and a beta of 0.47.

Blackstone Secured Lending Fund (NYSE:BXSLGet Free Report) last posted its quarterly earnings results on Wednesday, November 8th. The company reported $0.95 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.04). The firm had revenue of $283.96 million during the quarter, compared to analyst estimates of $282.93 million. Blackstone Secured Lending Fund had a net margin of 52.89% and a return on equity of 14.46%. Equities analysts predict that Blackstone Secured Lending Fund will post 3.86 EPS for the current year.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. lifted its holdings in Blackstone Secured Lending Fund by 57.1% in the second quarter. PNC Financial Services Group Inc. now owns 1,034 shares of the company’s stock valued at $28,000 after buying an additional 376 shares during the period. Fortis Capital Advisors LLC acquired a new position in shares of Blackstone Secured Lending Fund in the 1st quarter valued at $27,000. Sound Income Strategies LLC boosted its position in shares of 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 last quarter. PSI Advisors LLC acquired a new stake in shares of Blackstone Secured Lending Fund during the third quarter worth $34,000. Finally, Belpointe Asset Management LLC raised its stake in Blackstone Secured Lending Fund by 1,090.7% during the 1st quarter. Belpointe Asset Management LLC now owns 1,286 shares of the company’s stock worth $32,000 after buying an additional 1,178 shares during the period. Institutional investors and hedge funds own 36.96% of the company’s stock.

About Blackstone Secured Lending Fund

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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).

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