Blackstone Secured Lending Fund (NYSE:BXSL) Receives $30.42 Consensus Target Price from Analysts

Blackstone Secured Lending Fund (NYSE:BXSL) has been given an average rating of “Moderate Buy” by the seven brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $30.42.

BXSL has been the subject of a number of recent research reports. Wells Fargo & Company boosted their target price on Blackstone Secured Lending Fund from $28.50 to $30.50 and gave the stock an “overweight” rating in a research report on Monday, January 29th. Citigroup boosted their target price on Blackstone Secured Lending Fund from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Bank of America upgraded Blackstone Secured Lending Fund from a “neutral” rating to a “buy” rating in a research report on Monday, March 25th. Truist Financial boosted their target price on Blackstone Secured Lending Fund from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Finally, Raymond James reiterated a “market perform” rating on shares of Blackstone Secured Lending Fund in a report on Thursday, February 29th.

Blackstone Secured Lending Fund Stock Performance

Blackstone Secured Lending Fund stock opened at $31.15 on Friday. The firm has a market cap of $5.97 billion, a P/E ratio of 8.53 and a beta of 0.47. The business’s fifty day moving average is $29.59 and its two-hundred day moving average is $28.41. Blackstone Secured Lending Fund has a 52 week low of $23.82 and a 52 week high of $31.71.

Blackstone Secured Lending Fund (NYSE:BXSL) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. The company had revenue of $304.00 million for the quarter, compared to analyst estimates of $290.58 million. Blackstone Secured Lending Fund had a return on equity of 14.44% and a net margin of 53.50%. On average, equities research analysts predict that Blackstone Secured Lending Fund will post 3.62 earnings per share for the current year.

Blackstone Secured Lending Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Sunday, March 31st will be issued a $0.77 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $3.08 annualized dividend and a dividend yield of 9.89%. Blackstone Secured Lending Fund’s dividend payout ratio (DPR) is currently 84.38%.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

Several large investors have recently modified their holdings of the business. Fairman Group LLC bought a new stake in shares of Blackstone Secured Lending Fund in the fourth quarter worth about $84,000. Quadrature Capital Ltd boosted its position in shares of Blackstone Secured Lending Fund by 11.4% during the fourth quarter. Quadrature Capital Ltd now owns 65,414 shares of the company’s stock worth $1,808,000 after buying an additional 6,674 shares during the period. PVG Asset Management Corp acquired a new position in shares of Blackstone Secured Lending Fund during the fourth quarter worth about $207,000. Creekmur Asset Management LLC acquired a new position in shares of Blackstone Secured Lending Fund during the fourth quarter worth about $240,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Blackstone Secured Lending Fund during the fourth quarter worth about $216,000. 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).