JPMorgan Chase & Co. Raises Blackstone Secured Lending Fund (NYSE:BXSL) Price Target to $31.50

Blackstone Secured Lending Fund (NYSE:BXSL) had its target price boosted by JPMorgan Chase & Co. from $30.00 to $31.50 in a research note issued to investors on Friday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other equities analysts have also recently commented on the stock. Bank of America raised shares of Blackstone Secured Lending Fund from a neutral rating to a buy rating in a research note on Monday, March 25th. 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. Citigroup increased 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. Raymond James restated a market perform rating on shares of Blackstone Secured Lending Fund in a research report on Thursday, February 29th. Finally, 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 research report on Thursday, February 29th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Blackstone Secured Lending Fund has an average rating of Moderate Buy and a consensus target price of $30.92.

Blackstone Secured Lending Fund Price Performance

Shares of BXSL opened at $30.45 on Friday. The firm has a market cap of $5.83 billion, a P/E ratio of 8.34 and a beta of 0.49. Blackstone Secured Lending Fund has a 1 year low of $24.83 and a 1 year high of $31.71. The company has a 50 day simple moving average of $30.07 and a two-hundred day simple moving average of $28.63.

Blackstone Secured Lending Fund (NYSE:BXSL) last issued its earnings results on Wednesday, February 28th. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. The firm had revenue of $304.00 million during the quarter, compared to analyst estimates of $290.58 million. Blackstone Secured Lending Fund had a net margin of 53.50% and a return on equity of 14.44%. On average, sell-side analysts anticipate that Blackstone Secured Lending Fund will post 3.62 earnings per share for the current year.

Blackstone Secured Lending Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Sunday, March 31st will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.08 dividend on an annualized basis and a yield of 10.11%. Blackstone Secured Lending Fund’s payout ratio is 84.38%.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

Several hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. grew its position in Blackstone Secured Lending Fund by 57.1% during 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 during the last quarter. Fortis Capital Advisors LLC purchased a new position in shares of Blackstone Secured Lending Fund in the first quarter worth about $27,000. Sound Income Strategies LLC lifted its stake 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 in the last quarter. PSI Advisors LLC acquired a new position in Blackstone Secured Lending Fund during the third quarter worth $34,000. Finally, Belpointe Asset Management LLC grew its holdings in shares of 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. Hedge funds and other institutional investors 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).