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

Shares of Blackstone Secured Lending Fund (NYSE:BXSL) have received a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $30.92.

Separately, JPMorgan Chase & Co. dropped their price target on Blackstone Secured Lending Fund from $32.00 to $31.50 and set an “overweight” rating for the company in a research note on Monday.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BXSL. Citigroup Inc. raised its position in Blackstone Secured Lending Fund by 1,159.1% during the 3rd quarter. Citigroup Inc. now owns 1,385 shares of the company’s stock worth $38,000 after purchasing an additional 1,275 shares during the last quarter. Mutual Advisors LLC acquired a new stake in Blackstone Secured Lending Fund during the 4th quarter worth about $239,000. Raymond James & Associates grew its holdings in Blackstone Secured Lending Fund by 10.0% during the 4th quarter. Raymond James & Associates now owns 331,900 shares of the company’s stock worth $9,174,000 after acquiring an additional 30,163 shares during the period. Pallas Capital Advisors LLC grew its holdings in Blackstone Secured Lending Fund by 3.4% during the 4th quarter. Pallas Capital Advisors LLC now owns 136,091 shares of the company’s stock worth $3,762,000 after acquiring an additional 4,474 shares during the period. Finally, Private Trust Co. NA grew its holdings in Blackstone Secured Lending Fund by 2,535.6% during the 4th quarter. Private Trust Co. NA now owns 2,662 shares of the company’s stock worth $74,000 after acquiring an additional 2,561 shares during the period. 36.49% of the stock is owned by institutional investors.

Blackstone Secured Lending Fund Stock Performance

Shares of BXSL traded down $0.13 during trading hours on Monday, reaching $30.62. The stock had a trading volume of 208,078 shares, compared to its average volume of 910,451. Blackstone Secured Lending Fund has a 12 month low of $25.83 and a 12 month high of $32.67. The stock has a market capitalization of $6.08 billion, a PE ratio of 8.17 and a beta of 0.45. The company’s 50-day moving average is $31.04 and its two-hundred day moving average is $30.46.

Blackstone Secured Lending Fund (NYSE:BXSL) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.05). Blackstone Secured Lending Fund had a net margin of 55.54% and a return on equity of 14.06%. The firm had revenue of $303.96 million during the quarter, compared to the consensus estimate of $305.08 million. Equities analysts anticipate that Blackstone Secured Lending Fund will post 3.56 earnings per share for the current fiscal year.

Blackstone Secured Lending Fund Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Sunday, June 30th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 10.06%. The ex-dividend date of this dividend was Friday, June 28th. Blackstone Secured Lending Fund’s dividend payout ratio is currently 82.13%.

About Blackstone Secured Lending Fund

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).