Blackstone Secured Lending Fund (NYSE:BXSL) Receives Average Rating of "Moderate Buy" from Brokerages

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) has earned an average rating of "Moderate Buy" from the seven brokerages that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $32.79.

Several research analysts recently weighed in on BXSL shares. Compass Point cut 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. Truist Financial lifted their price target on Blackstone Secured Lending Fund from $33.00 to $35.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Wells Fargo & Company raised their target price on Blackstone Secured Lending Fund from $29.00 to $31.00 and gave the company an "equal weight" rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. boosted their price target on shares of Blackstone Secured Lending Fund from $33.00 to $33.50 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods increased their price target on shares of Blackstone Secured Lending Fund from $30.50 to $32.00 and gave the company a "market perform" rating in a research report on Thursday, February 27th.

Blackstone Secured Lending Fund Price Performance

Shares of BXSL stock traded down $0.63 during trading hours on Tuesday, reaching $31.33. The company had a trading volume of 1,283,684 shares, compared to its average volume of 960,171. The company has a market cap of $7.14 billion, a price-to-earnings ratio of 8.70 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. The business has a fifty day simple moving average of $32.96 and a 200-day simple moving average of $31.68.

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Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.02). Blackstone Secured Lending Fund had a net margin of 53.91% and a return on equity of 13.15%. The company had revenue of $353.00 million for the quarter, compared to the consensus estimate of $346.52 million. On average, equities research analysts expect that Blackstone Secured Lending Fund will post 3.54 earnings per share for the current year.

Blackstone Secured Lending Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 31st will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.08 dividend on an annualized basis and a dividend yield of 9.83%. Blackstone Secured Lending Fund's payout ratio is 88.76%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Beacon Capital Management LLC grew its position in shares of Blackstone Secured Lending Fund by 200.0% during the 4th quarter. Beacon Capital Management LLC now owns 900 shares of the company's stock valued at $29,000 after purchasing an additional 600 shares in the last quarter. MassMutual Private Wealth & Trust FSB purchased a new stake in shares of Blackstone Secured Lending Fund in the 4th quarter valued at about $31,000. CKW Financial Group purchased a new stake in shares of Blackstone Secured Lending Fund in the 4th quarter valued at about $32,000. Transce3nd LLC bought a new stake in shares of Blackstone Secured Lending Fund during the 4th quarter valued at about $45,000. Finally, Quarry LP purchased a new position in shares of Blackstone Secured Lending Fund during the third quarter worth about $48,000. Hedge funds and other 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).