Blackstone Secured Lending Fund (NYSE:BXSL) Stock Price Expected to Rise, Truist Financial Analyst Says

Blackstone Secured Lending Fund (NYSE:BXSL) had its price target lifted by research analysts at Truist Financial from $33.00 to $35.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target would indicate a potential upside of 3.78% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Wells Fargo & Company upped their price objective on Blackstone Secured Lending Fund from $29.00 to $31.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. increased their target price on shares of Blackstone Secured Lending Fund from $33.00 to $33.50 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Keefe, Bruyette & Woods increased their price objective on shares of Blackstone Secured Lending Fund from $30.50 to $32.00 and gave the stock a “market perform” rating in a research report on Thursday. Finally, Compass Point reduced 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. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Blackstone Secured Lending Fund has an average rating of “Moderate Buy” and an average target price of $32.79.

Blackstone Secured Lending Fund Trading Up 1.8 %

Shares of BXSL stock opened at $33.72 on Thursday. The stock’s 50-day moving average price is $32.98 and its 200-day moving average price is $31.48. Blackstone Secured Lending Fund has a 12-month low of $27.76 and a 12-month high of $34.64. The stock has a market capitalization of $7.55 billion, a price-to-earnings ratio of 9.37 and a beta of 0.43.

Blackstone Secured Lending Fund (NYSE:BXSL) last posted its earnings results on Wednesday, February 26th. The company reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.02). The business had revenue of $353.00 million during the quarter, compared to analysts’ expectations of $346.52 million. Blackstone Secured Lending Fund had a net margin of 53.91% and a return on equity of 13.15%. As a group, research analysts predict that Blackstone Secured Lending Fund will post 3.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Proficio Capital Partners LLC lifted its position in Blackstone Secured Lending Fund by 2,548.0% during the fourth quarter. Proficio Capital Partners LLC now owns 11,032,118 shares of the company’s stock valued at $356,448,000 after purchasing an additional 10,615,491 shares during the period. CCLA Investment Management acquired a new position in shares of Blackstone Secured Lending Fund in the fourth quarter worth about $67,323,000. Van ECK Associates Corp raised its holdings in Blackstone Secured Lending Fund by 57.7% in the 4th quarter. Van ECK Associates Corp now owns 5,563,231 shares of the company’s stock worth $179,748,000 after purchasing an additional 2,035,623 shares during the period. Generali Asset Management SPA SGR purchased a new stake in shares of Blackstone Secured Lending Fund in the fourth quarter valued at approximately $35,640,000. Finally, Progeny 3 Inc. purchased a new stake in Blackstone Secured Lending Fund in the 4th quarter worth $24,345,000. 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).