Brokerages Set Blackstone Secured Lending Fund (NYSE:BXSL) PT at $31.80

Shares of Blackstone Secured Lending Fund (NYSE:BXSL) have earned an average rating of “Moderate Buy” from the seven analysts that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $31.80.

BXSL has been the subject of several research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $33.00 target price on shares of Blackstone Secured Lending Fund in a research report on Wednesday, August 14th. Wells Fargo & Company decreased their price objective on Blackstone Secured Lending Fund from $32.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. upped their target price on Blackstone Secured Lending Fund from $31.50 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th.

Blackstone Secured Lending Fund Trading Up 1.4 %

Blackstone Secured Lending Fund stock opened at $30.40 on Friday. The firm has a 50 day simple moving average of $29.94 and a 200 day simple moving average of $30.66. Blackstone Secured Lending Fund has a 1-year low of $26.44 and a 1-year high of $32.67. The firm has a market capitalization of $5.85 billion, a price-to-earnings ratio of 8.11 and a beta of 0.43.

Blackstone Secured Lending Fund (NYSE:BXSL) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.01). Blackstone Secured Lending Fund had a return on equity of 13.36% and a net margin of 58.08%. The firm had revenue of $327.06 million during the quarter, compared to analysts’ expectations of $310.23 million. During the same period in the previous year, the company posted $1.06 earnings per share. On average, equities research analysts forecast that Blackstone Secured Lending Fund will post 3.55 EPS for the current year.

Blackstone Secured Lending Fund Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, September 30th will be paid a $0.77 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 10.13%. Blackstone Secured Lending Fund’s dividend payout ratio is presently 82.13%.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

A number of large investors have recently added to or reduced their stakes in BXSL. Perigon Wealth Management LLC boosted its stake in shares of Blackstone Secured Lending Fund by 1.9% in the 1st quarter. Perigon Wealth Management LLC now owns 40,108 shares of the company’s stock worth $1,249,000 after buying an additional 741 shares during the last quarter. Columbia Advisory Partners LLC boosted its position in Blackstone Secured Lending Fund by 24.0% in the first quarter. Columbia Advisory Partners LLC now owns 34,499 shares of the company’s stock worth $1,075,000 after purchasing an additional 6,676 shares during the last quarter. Cooper Financial Group grew its stake in shares of Blackstone Secured Lending Fund by 16.0% during the 1st quarter. Cooper Financial Group now owns 15,726 shares of the company’s stock valued at $490,000 after purchasing an additional 2,165 shares during the period. Financial Synergies Wealth Advisors Inc. purchased a new stake in shares of Blackstone Secured Lending Fund during the 1st quarter valued at about $360,000. Finally, Quadrature Capital Ltd lifted its stake in shares of Blackstone Secured Lending Fund by 11.4% in the 4th quarter. Quadrature Capital Ltd now owns 65,414 shares of the company’s stock worth $1,808,000 after purchasing an additional 6,674 shares during the period. 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).