Blackstone Secured Lending Fund (NYSE:BXSL) Sees Significant Growth in Short Interest

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) was the target of a large growth in short interest in February. As of February 15th, there was short interest totalling 2,060,000 shares, a growth of 47.1% from the January 31st total of 1,400,000 shares. Approximately 1.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,030,000 shares, the short-interest ratio is presently 2.0 days.

Blackstone Secured Lending Fund Stock Up 2.6 %

Blackstone Secured Lending Fund stock traded up $0.84 during mid-day trading on Friday, reaching $33.15. 496,653 shares of the company's stock traded hands, compared to its average volume of 1,057,133. Blackstone Secured Lending Fund has a 12-month low of $27.76 and a 12-month high of $34.64. The company has a market cap of $7.55 billion, a price-to-earnings ratio of 9.21 and a beta of 0.43. The stock has a 50 day moving average of $33.00 and a two-hundred day moving average of $31.59.

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) last released its quarterly 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). Blackstone Secured Lending Fund had a return on equity of 13.15% and a net margin of 53.91%. The company had revenue of $353.00 million during the quarter, compared to analysts' expectations of $346.52 million. As a group, sell-side analysts forecast that Blackstone Secured Lending Fund will post 3.54 earnings per share for the current year.

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Blackstone Secured Lending Fund Dividend Announcement

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. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.08 annualized dividend and a yield of 9.29%. Blackstone Secured Lending Fund's payout ratio is presently 88.76%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Wells Fargo & Company boosted their price objective 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. Compass Point dropped their price target on Blackstone Secured Lending Fund from $33.50 to $32.25 and set a "buy" rating for the company in a research note on Friday, November 15th. JPMorgan Chase & Co. lifted their price objective 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. Keefe, Bruyette & Woods upped their target price on shares of Blackstone Secured Lending Fund from $30.50 to $32.00 and gave the stock a "market perform" rating in a research report on Thursday, February 27th. Finally, Truist Financial lifted their price target on shares of Blackstone Secured Lending Fund from $33.00 to $35.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $32.79.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Beacon Capital Management LLC lifted its holdings in shares of Blackstone Secured Lending Fund by 200.0% in the 4th quarter. Beacon Capital Management LLC now owns 900 shares of the company's stock worth $29,000 after acquiring an additional 600 shares during the last quarter. MassMutual Private Wealth & Trust FSB bought a new stake in Blackstone Secured Lending Fund in the fourth quarter worth about $31,000. CKW Financial Group purchased a new position in shares of Blackstone Secured Lending Fund during the fourth quarter valued at approximately $32,000. Transce3nd LLC bought a new position in shares of Blackstone Secured Lending Fund during the fourth quarter valued at approximately $45,000. Finally, Quarry LP purchased a new stake in shares of Blackstone Secured Lending Fund in the third quarter worth approximately $48,000. 36.49% of the stock is owned by hedge funds and other institutional investors.

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).