Blackstone Secured Lending Fund (NYSE:BXSL) Given Consensus Rating of "Moderate Buy" by Brokerages

Shares of Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the seven analysts that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $31.80.

Several equities analysts have recently commented on the company. Royal Bank of Canada reaffirmed an "outperform" rating and set a $33.00 target price on shares of Blackstone Secured Lending Fund in a report on Wednesday, August 14th. JPMorgan Chase & Co. increased their target price on Blackstone Secured Lending Fund from $31.50 to $32.00 and gave the stock an "overweight" rating in a research report on Thursday, August 8th. Finally, Wells Fargo & Company cut their target price on 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.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ensign Peak Advisors Inc increased its stake in Blackstone Secured Lending Fund by 51.7% during the 2nd quarter. Ensign Peak Advisors Inc now owns 5,035,082 shares of the company's stock valued at $154,174,000 after buying an additional 1,715,357 shares during the period. Van ECK Associates Corp grew its holdings in Blackstone Secured Lending Fund by 10.9% during the third quarter. Van ECK Associates Corp now owns 3,527,608 shares of the company's stock worth $109,814,000 after acquiring an additional 346,894 shares during the period. Northeast Financial Consultants Inc raised its position in Blackstone Secured Lending Fund by 16.1% in the second quarter. Northeast Financial Consultants Inc now owns 1,864,469 shares of the company's stock worth $57,090,000 after acquiring an additional 258,966 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in Blackstone Secured Lending Fund by 13.8% in the 1st quarter. 1832 Asset Management L.P. now owns 1,085,676 shares of the company's stock valued at $33,819,000 after acquiring an additional 131,876 shares during the last quarter. Finally, Sound Income Strategies LLC lifted its holdings in Blackstone Secured Lending Fund by 22.0% in the 3rd quarter. Sound Income Strategies LLC now owns 926,633 shares of the company's stock valued at $27,141,000 after acquiring an additional 166,978 shares during the last quarter. 36.49% of the stock is currently owned by institutional investors.

Blackstone Secured Lending Fund Trading Up 2.0 %

Blackstone Secured Lending Fund stock traded up $0.62 during mid-day trading on Wednesday, reaching $31.27. The company's stock had a trading volume of 1,171,229 shares, compared to its average volume of 937,614. The firm has a market cap of $6.45 billion, a price-to-earnings ratio of 8.10 and a beta of 0.42. Blackstone Secured Lending Fund has a twelve month low of $27.23 and a twelve month high of $32.67. The business has a 50 day moving average price of $30.29 and a 200-day moving average price of $30.68.

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share 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 business had revenue of $327.06 million for the quarter, compared to the consensus estimate of $310.23 million. During the same period in the prior year, the company earned $1.06 EPS. On average, equities analysts expect that Blackstone Secured Lending Fund will post 3.56 EPS for the current fiscal year.

About Blackstone Secured Lending Fund

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).