Blackstone Secured Lending Fund (NYSE:BXSL) Given Average Rating of “Hold” by Brokerages

Blackstone Secured Lending Fund (NYSE:BXSL) has earned a consensus recommendation of “Hold” from the nine brokerages that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $26.0313.

Several brokerages have issued reports on BXSL. JPMorgan Chase & Co. lowered their price target on shares of Blackstone Secured Lending Fund from $27.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, March 13th. UBS Group decreased their target price on shares of Blackstone Secured Lending Fund from $27.50 to $24.75 and set a “neutral” rating on the stock in a research report on Friday, March 13th. Wells Fargo & Company decreased their target price on shares of Blackstone Secured Lending Fund from $24.00 to $22.00 and set an “underweight” rating on the stock in a research report on Friday. Truist Financial decreased their target price on shares of Blackstone Secured Lending Fund from $33.00 to $30.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. Finally, Wall Street Zen lowered shares of Blackstone Secured Lending Fund from a “hold” rating to a “sell” rating in a research report on Sunday, March 1st.

Institutional Trading of Blackstone Secured Lending Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Summit Global Investments lifted its holdings in shares of Blackstone Secured Lending Fund by 2.0% during the 1st quarter. Summit Global Investments now owns 31,272 shares of the company’s stock worth $741,000 after acquiring an additional 612 shares during the period. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in shares of Blackstone Secured Lending Fund by 90.3% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 5,204 shares of the company’s stock worth $123,000 after acquiring an additional 2,470 shares during the period. Simon Quick Advisors LLC bought a new stake in shares of Blackstone Secured Lending Fund during the 1st quarter worth approximately $902,000. Catalyst Capital Advisors LLC bought a new stake in shares of Blackstone Secured Lending Fund during the 1st quarter worth approximately $95,000. Finally, Independent Financial Group LLC bought a new stake in shares of Blackstone Secured Lending Fund during the 1st quarter worth approximately $1,902,000. Institutional investors own 36.49% of the company’s stock.

Blackstone Secured Lending Fund Trading Down 2.2%

BXSL opened at $23.64 on Tuesday. The stock has a market capitalization of $5.49 billion, a P/E ratio of 12.38 and a beta of 0.40. Blackstone Secured Lending Fund has a 12 month low of $22.47 and a 12 month high of $32.81. The firm’s fifty day simple moving average is $24.01 and its 200 day simple moving average is $25.55.

Blackstone Secured Lending Fund (NYSE:BXSL) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.75 by $0.02. The business had revenue of $254.64 million for the quarter, compared to analysts’ expectations of $353.15 million. Blackstone Secured Lending Fund had a net margin of 31.63% and a return on equity of 11.73%. On average, equities research analysts predict that Blackstone Secured Lending Fund will post 2.91 EPS for the current fiscal year.

Blackstone Secured Lending Fund Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 13.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Blackstone Secured Lending Fund’s dividend payout ratio is 161.26%.

Blackstone Secured Lending Fund Company Profile

Blackstone Secured Lending Fund (NYSE: BXSL) is a closed-end management investment company sponsored by Blackstone Credit, the credit-oriented business of Blackstone Inc Launched in May 2020, BXSL seeks to deliver attractive risk-adjusted returns primarily through current income and, to a lesser extent, capital appreciation. The fund raises capital from institutional and retail investors and deploys it into a diversified portfolio of senior secured loans and other credit instruments.

The fund’s principal investment focus is on first-lien senior secured loans and unitranche debt extended to middle-market companies across North America.