Blackstone Secured Lending Fund (NYSE:BXSL) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Blackstone Secured Lending Fund (NYSE:BXSL) have received a consensus rating of “Moderate Buy” from the seven brokerages that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $31.80.

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

Blackstone Secured Lending Fund Trading Up 0.2 %

Shares of NYSE BXSL opened at $30.46 on Tuesday. Blackstone Secured Lending Fund has a 1-year low of $25.83 and a 1-year high of $32.67. The company has a 50-day moving average of $30.07 and a two-hundred day moving average of $30.78. The company has a market cap of $5.86 billion, a PE ratio of 8.12 and a beta of 0.44.

Blackstone Secured Lending Fund (NYSE:BXSL) last issued its quarterly earnings data 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 net margin of 58.08% and a return on equity of 13.36%. The firm had revenue of $327.06 million for the quarter, compared to analyst estimates of $310.23 million. During the same quarter in the prior year, the firm posted $1.06 EPS. As a group, equities research analysts forecast that Blackstone Secured Lending Fund will post 3.55 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, October 25th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 10.11%. The ex-dividend date is Monday, September 30th. Blackstone Secured Lending Fund’s dividend payout ratio (DPR) is presently 82.13%.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BXSL. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Blackstone Secured Lending Fund during the second quarter worth about $32,000. Farmers & Merchants Investments Inc. bought a new position in shares of Blackstone Secured Lending Fund during the second quarter valued at approximately $37,000. PSI Advisors LLC raised its holdings in shares of Blackstone Secured Lending Fund by 68.0% during the first quarter. PSI Advisors LLC now owns 2,100 shares of the company’s stock valued at $65,000 after acquiring an additional 850 shares in the last quarter. Cape Investment Advisory Inc. bought a new position in shares of Blackstone Secured Lending Fund during the fourth quarter valued at approximately $65,000. Finally, Security National Bank purchased a new stake in Blackstone Secured Lending Fund in the fourth quarter worth $73,000. 36.49% of the stock is currently 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).