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

Blackstone Secured Lending Fund (NYSE:BXSL) has been given an average rating of “Moderate Buy” by the seven ratings firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $30.92.

A number of research firms recently issued reports on BXSL. Bank of America raised Blackstone Secured Lending Fund from a “neutral” rating to a “buy” rating in a research note on Monday, March 25th. Citigroup raised their price target on Blackstone Secured Lending Fund from $30.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, February 29th. JPMorgan Chase & Co. raised their price target on Blackstone Secured Lending Fund from $30.00 to $31.50 and gave the company an “overweight” rating in a report on Friday, April 12th. Wells Fargo & Company lifted their target price on Blackstone Secured Lending Fund from $28.50 to $30.50 and gave the stock an “overweight” rating in a report on Monday, January 29th. Finally, Truist Financial raised their price target on Blackstone Secured Lending Fund from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th.

Blackstone Secured Lending Fund Stock Performance

BXSL opened at $30.73 on Wednesday. The firm’s 50-day simple moving average is $30.07 and its 200-day simple moving average is $28.63. The firm has a market cap of $5.89 billion, a price-to-earnings ratio of 8.42 and a beta of 0.49. Blackstone Secured Lending Fund has a twelve month low of $24.83 and a twelve month high of $31.71.

Blackstone Secured Lending Fund (NYSE:BXSL) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.04. Blackstone Secured Lending Fund had a net margin of 53.50% and a return on equity of 14.44%. The business had revenue of $304.00 million for the quarter, compared to the consensus estimate of $290.58 million. As a group, sell-side analysts anticipate 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 declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Sunday, March 31st will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 10.02%. The ex-dividend date is Wednesday, March 27th. Blackstone Secured Lending Fund’s dividend payout ratio is presently 84.38%.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BXSL. Fortis Capital Advisors LLC bought a new stake in Blackstone Secured Lending Fund during the 1st quarter valued at $27,000. PNC Financial Services Group Inc. boosted its position in shares of Blackstone Secured Lending Fund by 57.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,034 shares of the company’s stock worth $28,000 after purchasing an additional 376 shares in the last quarter. Belpointe Asset Management LLC boosted its position in shares of Blackstone Secured Lending Fund by 1,090.7% in the 1st quarter. Belpointe Asset Management LLC now owns 1,286 shares of the company’s stock worth $32,000 after purchasing an additional 1,178 shares in the last quarter. 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 in the last quarter. Finally, PSI Advisors LLC acquired a new stake in shares of Blackstone Secured Lending Fund in the 3rd quarter worth $34,000. 36.49% of the stock is owned by institutional investors.

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).