Blackstone Secured Lending Fund (NYSE:BXSL) Stock Price Up 1.3% – Should You Buy?

Blackstone Secured Lending Fund (NYSE:BXSL) shares rose 1.3% during trading on Tuesday . The company traded as high as $32.83 and last traded at $32.78. Approximately 971,909 shares traded hands during trading, an increase of 1% from the average daily volume of 963,035 shares. The stock had previously closed at $32.36.

Wall Street Analysts Forecast Growth

BXSL has been the topic of several research analyst reports. Truist Financial boosted their price objective on Blackstone Secured Lending Fund from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Wells Fargo & Company boosted their price target on shares of Blackstone Secured Lending Fund from $29.00 to $31.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. raised their price objective on shares of 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, Keefe, Bruyette & Woods boosted their target price on shares of Blackstone Secured Lending Fund from $30.50 to $32.00 and gave the company a “market perform” rating in a research note on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.79.

Blackstone Secured Lending Fund Price Performance

The firm has a market capitalization of $7.23 billion, a PE ratio of 8.81 and a beta of 0.43. The company’s fifty day simple moving average is $33.17 and its 200 day simple moving average is $31.97.

Blackstone Secured Lending Fund (NYSE:BXSL) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $346.52 million. On average, analysts anticipate that Blackstone Secured Lending Fund will post 3.54 earnings per share for the current fiscal year.

Blackstone Secured Lending Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 31st will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.08 dividend on an annualized basis and a dividend yield of 9.71%. Blackstone Secured Lending Fund’s payout ratio is 88.76%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Beacon Capital Management LLC lifted its holdings in shares of Blackstone Secured Lending Fund by 200.0% in the fourth quarter. Beacon Capital Management LLC now owns 900 shares of the company’s stock worth $29,000 after buying an additional 600 shares in the last quarter. MassMutual Private Wealth & Trust FSB bought a new position in Blackstone Secured Lending Fund in the 4th quarter valued at $31,000. CKW Financial Group bought a new position in Blackstone Secured Lending Fund in the 4th quarter valued at $32,000. Transce3nd LLC purchased a new position in shares of Blackstone Secured Lending Fund during the 4th quarter valued at $45,000. Finally, Quarry LP bought a new position in shares of Blackstone Secured Lending Fund in the third quarter worth $48,000. Institutional investors own 36.49% of the company’s stock.

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).