Keefe, Bruyette & Woods Boosts Blackstone Secured Lending Fund (NYSE:BXSL) Price Target to $32.00

Blackstone Secured Lending Fund (NYSE:BXSL) had its price objective boosted by Keefe, Bruyette & Woods from $30.50 to $32.00 in a report released on Thursday,Benzinga reports. The firm currently has a market perform rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Wells Fargo & Company increased their price objective on shares of 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. JPMorgan Chase & Co. increased their target price on 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, Compass Point cut their price target on 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. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Blackstone Secured Lending Fund currently has an average rating of “Moderate Buy” and a consensus price target of $32.54.

Blackstone Secured Lending Fund Trading Up 1.3 %

BXSL stock opened at $33.16 on Thursday. Blackstone Secured Lending Fund has a 1-year low of $27.76 and a 1-year high of $34.64. The firm has a market cap of $7.42 billion, a PE ratio of 9.21 and a beta of 0.43. The business’s 50-day moving average price is $32.95 and its two-hundred day moving average price is $31.47.

Blackstone Secured Lending Fund (NYSE:BXSL) last released 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 business had revenue of $353.00 million for the quarter, compared to the consensus estimate of $346.52 million. On average, analysts forecast that Blackstone Secured Lending Fund will post 3.54 earnings per share for the current year.

Blackstone Secured Lending Fund Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 31st will be given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 9.29%. The ex-dividend date is Monday, March 31st. Blackstone Secured Lending Fund’s dividend payout ratio is currently 85.56%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BXSL. Ameriflex Group Inc. acquired a new position in shares of Blackstone Secured Lending Fund during the 4th quarter worth approximately $55,000. Sunbelt Securities Inc. grew its stake in shares of Blackstone Secured Lending Fund by 6.9% in the fourth quarter. Sunbelt Securities Inc. now owns 52,846 shares of the company’s stock valued at $1,748,000 after buying an additional 3,404 shares in the last quarter. Two Sigma Investments LP grew its stake in shares of Blackstone Secured Lending Fund by 16.1% in the fourth quarter. Two Sigma Investments LP now owns 209,662 shares of the company’s stock valued at $6,774,000 after buying an additional 29,115 shares in the last quarter. Tidal Investments LLC increased its holdings in Blackstone Secured Lending Fund by 2.3% during the fourth quarter. Tidal Investments LLC now owns 14,280 shares of the company’s stock worth $461,000 after buying an additional 320 shares during the last quarter. Finally, Royal Bank of Canada raised its position in Blackstone Secured Lending Fund by 11.0% during the fourth quarter. Royal Bank of Canada now owns 1,533,485 shares of the company’s stock worth $49,548,000 after acquiring an additional 151,633 shares in the last quarter. 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).