Blackstone Secured Lending Fund (NYSE:BXSL) Sets New 52-Week Low – Should You Sell?

Blackstone Secured Lending Fund (NYSE:BXSL) shares reached a new 52-week low during mid-day trading on Monday . The company traded as low as $26.97 and last traded at $27.32, with a volume of 818353 shares changing hands. The stock had previously closed at $29.20.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Blackstone Secured Lending Fund from $33.00 to $33.50 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Truist Financial boosted their price objective on shares of 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 upped their price objective on shares of 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. Finally, Keefe, Bruyette & Woods lifted their target price on 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. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.79.

Blackstone Secured Lending Fund Stock Down 4.0 %

The firm has a market cap of $6.39 billion, a P/E ratio of 7.80 and a beta of 0.43. The business’s 50 day moving average is $33.08 and its 200-day moving average is $31.99.

Blackstone Secured Lending Fund (NYSE:BXSL) last released its earnings results 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 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 the consensus estimate of $346.52 million. As a group, equities analysts predict that Blackstone Secured Lending Fund will post 3.54 earnings per share for the current year.

Blackstone Secured Lending Fund Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 10.98%. The ex-dividend date is Monday, March 31st. Blackstone Secured Lending Fund’s dividend payout ratio is presently 88.76%.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

Several institutional investors and hedge funds have recently made changes to their positions in BXSL. CWC Advisors LLC. raised its stake in Blackstone Secured Lending Fund by 2.8% during the fourth quarter. CWC Advisors LLC. now owns 77,528 shares of the company’s stock worth $2,505,000 after acquiring an additional 2,136 shares during the period. Comprehensive Money Management Services LLC acquired a new position in Blackstone Secured Lending Fund in the fourth quarter valued at approximately $560,000. Ameriflex Group Inc. bought a new position in shares of Blackstone Secured Lending Fund during the fourth quarter valued at approximately $55,000. Sunbelt Securities Inc. raised its position in shares of Blackstone Secured Lending Fund by 6.9% during the 4th quarter. Sunbelt Securities Inc. now owns 52,846 shares of the company’s stock worth $1,748,000 after purchasing an additional 3,404 shares during the period. Finally, Two Sigma Investments LP raised its position in shares of Blackstone Secured Lending Fund by 16.1% during the 4th quarter. Two Sigma Investments LP now owns 209,662 shares of the company’s stock worth $6,774,000 after purchasing an additional 29,115 shares during the period. 36.49% of the stock is owned by institutional investors and hedge funds.

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).