Blackstone Secured Lending Fund (NYSE:BXSL) Receives Consensus Rating of “Hold” from Brokerages

Shares of Blackstone Secured Lending Fund (NYSE:BXSL) have earned an average rating of “Hold” from the nine analysts that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $24.8750.

Several research firms have commented on BXSL. Truist Financial decreased their price target on shares of Blackstone Secured Lending Fund from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Tuesday, May 19th. Royal Bank Of Canada decreased their price target on shares of Blackstone Secured Lending Fund from $28.00 to $26.00 and set an “outperform” rating for the company in a research report on Monday, May 18th. Keefe, Bruyette & Woods lowered shares of Blackstone Secured Lending Fund from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $25.00 to $24.00 in a research report on Monday, June 8th. Wells Fargo & Company decreased their price target on shares of Blackstone Secured Lending Fund from $24.00 to $22.00 and set an “underweight” rating for the company in a research report on Friday, May 8th. Finally, B. Riley Financial decreased their price target on shares of Blackstone Secured Lending Fund from $24.50 to $23.50 and set a “neutral” rating for the company in a research report on Tuesday, May 12th.

Insiders Place Their Bets

In related news, insider Robert J. Bass purchased 2,095 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were acquired at an average price of $23.80 per share, for a total transaction of $49,861.00. Following the purchase, the insider owned 25,107 shares of the company’s stock, valued at $597,546.60. This trade represents a 9.10% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Delphi Management Inc. MA increased its stake in Blackstone Secured Lending Fund by 0.9% during the 4th quarter. Delphi Management Inc. MA now owns 45,939 shares of the company’s stock valued at $1,210,000 after purchasing an additional 421 shares in the last quarter. Walter & Keenan Wealth Management LLC IN ADV increased its stake in Blackstone Secured Lending Fund by 1.8% during the 4th quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 25,632 shares of the company’s stock valued at $675,000 after purchasing an additional 443 shares in the last quarter. Wealthspire Advisors LLC increased its stake in Blackstone Secured Lending Fund by 2.4% during the 4th quarter. Wealthspire Advisors LLC now owns 19,343 shares of the company’s stock valued at $509,000 after purchasing an additional 461 shares in the last quarter. Spire Wealth Management increased its stake in Blackstone Secured Lending Fund by 0.6% during the 4th quarter. Spire Wealth Management now owns 80,434 shares of the company’s stock valued at $2,118,000 after purchasing an additional 486 shares in the last quarter. Finally, Valtrion Capital Management LLC increased its stake in Blackstone Secured Lending Fund by 3.5% during the 4th quarter. Valtrion Capital Management LLC now owns 14,607 shares of the company’s stock valued at $385,000 after purchasing an additional 494 shares in the last quarter. Institutional investors and hedge funds own 36.49% of the company’s stock.

Blackstone Secured Lending Fund Stock Performance

BXSL stock opened at $23.69 on Wednesday. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of 12.40 and a beta of 0.38. The firm has a 50-day simple moving average of $23.85 and a two-hundred day simple moving average of $24.72. Blackstone Secured Lending Fund has a one year low of $22.47 and a one year high of $32.81.

Blackstone Secured Lending Fund (NYSE:BXSL) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.75 by $0.02. The business had revenue of $254.64 million during the quarter, compared to analyst estimates of $353.15 million. Blackstone Secured Lending Fund had a net margin of 31.63% and a return on equity of 11.73%. As a group, equities analysts predict that Blackstone Secured Lending Fund will post 2.76 earnings per share for the current fiscal year.

Blackstone Secured Lending Fund Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Tuesday, June 30th will be paid a $0.77 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $3.08 dividend on an annualized basis and a yield of 13.0%. Blackstone Secured Lending Fund’s dividend payout ratio (DPR) is 161.26%.

About Blackstone Secured Lending Fund

Blackstone Secured Lending Fund (NYSE: BXSL) is a closed-end management investment company sponsored by Blackstone Credit, the credit-oriented business of Blackstone Inc Launched in May 2020, BXSL seeks to deliver attractive risk-adjusted returns primarily through current income and, to a lesser extent, capital appreciation. The fund raises capital from institutional and retail investors and deploys it into a diversified portfolio of senior secured loans and other credit instruments.

The fund’s principal investment focus is on first-lien senior secured loans and unitranche debt extended to middle-market companies across North America.