Blackstone Secured Lending Fund (NYSE:BXSL) Shares Up 1.3% - Time to Buy?

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) traded up 1.3% during trading on Tuesday . The stock traded as high as $32.83 and last traded at $32.78. 971,909 shares were traded during mid-day trading, an increase of 1% from the average session volume of 963,035 shares. The stock had previously closed at $32.36.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods upped their price target on 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. Truist Financial increased their target price on shares of Blackstone Secured Lending Fund from $33.00 to $35.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. JPMorgan Chase & Co. boosted their price target 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. Finally, Wells Fargo & Company increased their price objective on Blackstone Secured Lending Fund from $29.00 to $31.00 and gave the stock an "equal weight" rating in a research report on Wednesday, January 29th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Blackstone Secured Lending Fund currently has an average rating of "Moderate Buy" and a consensus target price of $32.79.

Blackstone Secured Lending Fund Stock Performance

The stock has a market capitalization of $6.66 billion, a P/E ratio of 8.12 and a beta of 0.43. The firm has a 50-day moving average price of $33.08 and a 200 day moving average price of $31.98.

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.84 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.86 by ($0.02). The business had revenue of $353.00 million during the quarter, compared to analysts' expectations 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, equities analysts anticipate that Blackstone Secured Lending Fund will post 3.54 earnings per share for the current fiscal year.

Blackstone Secured Lending Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 31st will be issued a $0.77 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.08 annualized dividend and a dividend yield of 10.54%. Blackstone Secured Lending Fund's dividend payout ratio is currently 88.76%.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Several institutional investors and hedge funds have recently bought and sold shares of BXSL. Proficio Capital Partners LLC grew its holdings in shares of Blackstone Secured Lending Fund by 2,548.0% in the fourth quarter. Proficio Capital Partners LLC now owns 11,032,118 shares of the company's stock worth $356,448,000 after purchasing 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% in 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 increased its position in shares of Blackstone Secured Lending Fund by 57.7% in the fourth quarter. Van ECK Associates Corp now owns 5,563,231 shares of the company's stock valued at $179,748,000 after acquiring an additional 2,035,623 shares during the period. Ensign Peak Advisors Inc raised its stake in shares of Blackstone Secured Lending Fund by 1.6% during the fourth quarter. Ensign Peak Advisors Inc now owns 4,953,039 shares of the company's stock valued at $160,033,000 after acquiring an additional 78,054 shares during the last quarter. Finally, Northeast Financial Consultants Inc increased 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 valued at $76,293,000 after purchasing an additional 264,446 shares during the period. 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).