Blackstone Secured Lending Fund (NYSE:BXSL) Price Target Cut to $29.00 by Analysts at Wells Fargo & Company

Blackstone Secured Lending Fund (NYSE:BXSL) had its target price lowered by analysts at Wells Fargo & Company from $31.00 to $29.00 in a report issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential downside of 2.26% from the stock’s previous close.

BXSL has been the topic of a number of other reports. Truist Financial lifted their price target on Blackstone Secured Lending Fund from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. JPMorgan Chase & Co. decreased their target price on shares of Blackstone Secured Lending Fund from $33.50 to $30.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Blackstone Secured Lending Fund from $32.00 to $31.00 and set a “market perform” rating for the company in a report on Tuesday, April 8th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $31.71.

Blackstone Secured Lending Fund Stock Performance

Shares of Blackstone Secured Lending Fund stock opened at $29.67 on Monday. Blackstone Secured Lending Fund has a 52-week low of $25.89 and a 52-week high of $34.64. The company has a fifty day moving average of $31.16 and a 200-day moving average of $31.78. The stock has a market capitalization of $6.76 billion, a price-to-earnings ratio of 8.24 and a beta of 0.43.

Blackstone Secured Lending Fund (NYSE:BXSL) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.02). The company had revenue of $353.00 million for the quarter, compared to the consensus estimate of $346.52 million. Blackstone Secured Lending Fund had a net margin of 53.91% and a return on equity of 13.15%. On average, equities research analysts forecast that Blackstone Secured Lending Fund will post 3.54 earnings per share for the current fiscal year.

Institutional Trading of Blackstone Secured Lending Fund

Large investors have recently added to or reduced their stakes in the stock. Beacon Capital Management LLC raised its holdings in Blackstone Secured Lending Fund by 200.0% in the 4th quarter. Beacon Capital Management LLC now owns 900 shares of the company’s stock worth $29,000 after purchasing an additional 600 shares in the last quarter. MassMutual Private Wealth & Trust FSB purchased a new position in shares of Blackstone Secured Lending Fund during the fourth quarter valued at about $31,000. CKW Financial Group bought a new position in Blackstone Secured Lending Fund in the fourth quarter worth about $32,000. Transce3nd LLC purchased a new stake in Blackstone Secured Lending Fund in the fourth quarter worth about $45,000. Finally, Ameriflex Group Inc. bought a new stake in Blackstone Secured Lending Fund during the 4th quarter valued at approximately $55,000. Institutional investors own 36.49% of the company’s stock.

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).