Blackstone Secured Lending Fund (NYSE:BXSL) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Blackstone Secured Lending Fund (NYSE:BXSL) have been given a consensus rating of “Moderate Buy” by the seven ratings firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $31.80.

A number of equities analysts recently commented on the company. Wells Fargo & Company dropped their price target on Blackstone Secured Lending Fund from $32.00 to $31.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada restated 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 objective on Blackstone Secured Lending Fund from $31.50 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th.

Blackstone Secured Lending Fund Stock Up 0.8 %

NYSE BXSL opened at $30.64 on Wednesday. The business has a 50-day moving average price of $30.25 and a 200-day moving average price of $30.68. Blackstone Secured Lending Fund has a twelve month low of $27.23 and a twelve month high of $32.67. The firm has a market cap of $6.32 billion, a price-to-earnings ratio of 7.94 and a beta of 0.42.

Blackstone Secured Lending Fund (NYSE:BXSL) last announced its quarterly 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). Blackstone Secured Lending Fund had a net margin of 58.08% and a return on equity of 13.36%. The firm had revenue of $327.06 million for the quarter, compared to the consensus estimate of $310.23 million. During the same period in the previous year, the company posted $1.06 earnings per share. Research analysts expect that Blackstone Secured Lending Fund will post 3.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

Hedge funds and other institutional investors have recently modified their holdings of the business. Signaturefd LLC purchased a new stake in shares of Blackstone Secured Lending Fund in the third quarter worth approximately $29,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Blackstone Secured Lending Fund in the second quarter worth approximately $32,000. Blue Trust Inc. raised its holdings in shares of Blackstone Secured Lending Fund by 1,466.7% in the third quarter. Blue Trust Inc. now owns 1,175 shares of the company’s stock worth $36,000 after buying an additional 1,100 shares during the period. Farmers & Merchants Investments Inc. purchased a new stake in shares of Blackstone Secured Lending Fund in the second quarter worth approximately $37,000. Finally, Clear Point Advisors Inc. raised its holdings in shares of Blackstone Secured Lending Fund by 15.9% in the second quarter. Clear Point Advisors Inc. now owns 2,914 shares of the company’s stock worth $89,000 after buying an additional 400 shares during the period. 36.49% of the stock is currently owned by hedge funds and other institutional investors.

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).