Blackstone Secured Lending Fund (NYSE:BXSL) Price Target Raised to $32.00

Blackstone Secured Lending Fund (NYSE:BXSL) had its price target lifted by Keefe, Bruyette & Woods from $30.50 to $32.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a market perform rating on the stock.

Several other equities analysts have also recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Blackstone Secured Lending Fund from $33.00 to $33.50 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Wells Fargo & Company lifted their price target on shares of Blackstone Secured Lending Fund from $29.00 to $31.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Finally, Compass Point decreased their price target on shares of Blackstone Secured Lending Fund from $33.50 to $32.25 and set a “buy” rating on the stock in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.79.

Blackstone Secured Lending Fund Trading Up 1.8 %

Shares of NYSE:BXSL opened at $33.72 on Thursday. The firm has a 50 day moving average of $33.01 and a 200-day moving average of $31.51. The stock has a market capitalization of $7.55 billion, a PE ratio of 9.37 and a beta of 0.43. Blackstone Secured Lending Fund has a 12 month low of $27.76 and a 12 month high of $34.64.

Blackstone Secured Lending Fund (NYSE:BXSL) last issued its earnings results on Wednesday, February 26th. The company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.02). The firm had revenue of $353.00 million during the quarter, compared to analyst estimates 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, research analysts predict that Blackstone Secured Lending Fund will post 3.54 EPS for the current fiscal year.

Blackstone Secured Lending Fund Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 31st will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 9.13%. The ex-dividend date of this dividend is Monday, March 31st. Blackstone Secured Lending Fund’s dividend payout ratio (DPR) is presently 85.56%.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

A number of institutional investors have recently added to or reduced their stakes in the business. Proficio Capital Partners LLC grew its holdings in Blackstone Secured Lending Fund by 2,548.0% during the 4th quarter. Proficio Capital Partners LLC now owns 11,032,118 shares of the company’s stock worth $356,448,000 after acquiring an additional 10,615,491 shares during the last quarter. Bank of America Corp DE grew its holdings in Blackstone Secured Lending Fund by 12.5% during the 4th quarter. Bank of America Corp DE now owns 6,682,928 shares of the company’s stock worth $215,925,000 after acquiring an additional 741,285 shares during the last quarter. Van ECK Associates Corp grew its holdings in Blackstone Secured Lending Fund by 57.7% during the 4th quarter. Van ECK Associates Corp now owns 5,563,231 shares of the company’s stock worth $179,748,000 after acquiring an additional 2,035,623 shares during the last quarter. Ensign Peak Advisors Inc grew its holdings in Blackstone Secured Lending Fund by 1.6% during the 4th quarter. Ensign Peak Advisors Inc now owns 4,953,039 shares of the company’s stock worth $160,033,000 after acquiring an additional 78,054 shares during the last quarter. Finally, Northeast Financial Consultants Inc grew its holdings in Blackstone Secured Lending Fund by 12.6% during the 4th quarter. Northeast Financial Consultants Inc now owns 2,361,294 shares of the company’s stock worth $76,293,000 after acquiring an additional 264,446 shares during the last quarter. 36.49% of the stock is owned by institutional investors.

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).