Blackstone Secured Lending Fund (NYSE:BXSL) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Blackstone Secured Lending Fund (NYSE:BXSL) from a hold rating to a sell rating in a report issued on Saturday morning.

Other analysts have also issued research reports about the stock. Keefe, Bruyette & Woods decreased their target price on shares of Blackstone Secured Lending Fund from $30.00 to $29.00 and set an “outperform” rating on the stock in a report on Tuesday, November 11th. Royal Bank Of Canada decreased their price target on shares of Blackstone Secured Lending Fund from $32.00 to $29.00 and set an “outperform” rating on the stock in a report on Wednesday, November 12th. B. Riley Financial lowered their price objective on Blackstone Secured Lending Fund from $32.00 to $30.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. Wells Fargo & Company cut Blackstone Secured Lending Fund from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $26.00 to $24.00 in a research report on Wednesday, January 7th. Finally, UBS Group lowered their price target on Blackstone Secured Lending Fund from $31.00 to $28.00 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $29.13.

Blackstone Secured Lending Fund Stock Performance

NYSE:BXSL opened at $25.24 on Friday. The business’s fifty day moving average is $26.69 and its 200 day moving average is $27.55. The firm has a market cap of $5.84 billion, a price-to-earnings ratio of 9.49 and a beta of 0.41. Blackstone Secured Lending Fund has a 52-week low of $24.17 and a 52-week high of $34.64.

Blackstone Secured Lending Fund (NYSE:BXSL) last posted its earnings results on Monday, November 10th. The company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.02. Blackstone Secured Lending Fund had a return on equity of 11.85% and a net margin of 42.38%.The business had revenue of $358.56 million during the quarter, compared to analyst estimates of $353.55 million. Equities analysts predict that Blackstone Secured Lending Fund will post 3.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

A number of hedge funds and other institutional investors have recently modified their holdings of BXSL. Empowered Funds LLC lifted its position in Blackstone Secured Lending Fund by 139.9% in the 1st quarter. Empowered Funds LLC now owns 18,340 shares of the company’s stock worth $593,000 after buying an additional 10,696 shares during the last quarter. Truist Financial Corp lifted its holdings in shares of Blackstone Secured Lending Fund by 1.4% in the 2nd quarter. Truist Financial Corp now owns 32,995 shares of the company’s stock worth $1,015,000 after acquiring an additional 442 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of Blackstone Secured Lending Fund by 69.9% in the 2nd quarter. IFP Advisors Inc now owns 26,529 shares of the company’s stock worth $816,000 after acquiring an additional 10,917 shares during the last quarter. Cyndeo Wealth Partners LLC boosted its stake in shares of Blackstone Secured Lending Fund by 1.0% in the 2nd quarter. Cyndeo Wealth Partners LLC now owns 54,968 shares of the company’s stock valued at $1,690,000 after purchasing an additional 561 shares in the last quarter. Finally, Apollon Wealth Management LLC grew its holdings in shares of Blackstone Secured Lending Fund by 10.3% during the 2nd quarter. Apollon Wealth Management LLC now owns 20,454 shares of the company’s stock valued at $629,000 after purchasing an additional 1,917 shares during the last quarter. 36.49% of the stock is currently owned by hedge funds and other institutional investors.

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.