Blackstone Secured Lending Fund (NYSE:BXSL) Short Interest Update

Blackstone Secured Lending Fund (NYSE:BXSL) was the target of a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 1,210,000 shares, an increase of 7.1% from the August 31st total of 1,130,000 shares. Currently, 0.7% of the company’s shares are short sold. Based on an average trading volume of 940,400 shares, the short-interest ratio is presently 1.3 days.

Blackstone Secured Lending Fund Stock Down 0.1 %

NYSE:BXSL opened at $29.25 on Wednesday. The company has a market cap of $5.63 billion, a P/E ratio of 7.83 and a beta of 0.44. The firm’s 50 day moving average is $30.03 and its two-hundred day moving average is $30.76. Blackstone Secured Lending Fund has a fifty-two week low of $25.83 and a fifty-two week high of $32.67.

Blackstone Secured Lending Fund (NYSE:BXSL) last issued its earnings results on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.01). The business had revenue of $327.06 million during the quarter, compared to analysts’ expectations of $310.23 million. Blackstone Secured Lending Fund had a net margin of 58.08% and a return on equity of 13.36%. During the same period in the prior year, the business posted $1.06 EPS. Research analysts forecast that Blackstone Secured Lending Fund will post 3.55 earnings per share for the current fiscal year.

Blackstone Secured Lending Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.77 per share. The ex-dividend date is Monday, September 30th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 10.53%. Blackstone Secured Lending Fund’s dividend payout ratio is currently 82.13%.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

A number of large investors have recently added to or reduced their stakes in the company. Icon Wealth Advisors LLC bought a new position in shares of Blackstone Secured Lending Fund during the fourth quarter worth about $1,503,000. LM Advisors LLC acquired a new position in shares of Blackstone Secured Lending Fund in the 4th quarter worth approximately $831,000. Quadrature Capital Ltd grew its position in shares of Blackstone Secured Lending Fund by 11.4% in the 4th quarter. Quadrature Capital Ltd now owns 65,414 shares of the company’s stock worth $1,808,000 after acquiring an additional 6,674 shares in the last quarter. Waterloo Capital L.P. bought a new stake in shares of Blackstone Secured Lending Fund in the 4th quarter valued at approximately $1,777,000. Finally, Security National Bank acquired a new stake in shares of Blackstone Secured Lending Fund during the 4th quarter valued at approximately $73,000. 36.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BXSL has been the topic of a number of research reports. Wells Fargo & Company reduced their target price on shares of Blackstone Secured Lending Fund from $32.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Royal Bank of Canada reissued an “outperform” rating and set a $33.00 price objective on shares of Blackstone Secured Lending Fund in a research report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. upped their price target on Blackstone Secured Lending Fund from $31.50 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $31.80.

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).