Blackstone Secured Lending Fund (NYSE:BXSL) Upgraded at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of Blackstone Secured Lending Fund (NYSE:BXSL – Free Report) from a sell rating to a hold rating in a report issued on Saturday.

BXSL has been the subject of several other reports. Wells Fargo & Company lifted their price objective on Blackstone Secured Lending Fund from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Thursday, August 7th. UBS Group assumed coverage on Blackstone Secured Lending Fund in a report on Thursday, September 11th. They issued a “neutral” rating and a $31.00 price objective for the company. B. Riley assumed coverage on Blackstone Secured Lending Fund in a report on Thursday, September 25th. They issued a “buy” rating and a $32.00 price objective for the company. Zacks Research upgraded Blackstone Secured Lending Fund from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Finally, JPMorgan Chase & Co. reduced their price objective on Blackstone Secured Lending Fund from $30.50 to $29.00 and set an “overweight” rating for the company in a report on Wednesday, October 1st. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.16.

View Our Latest Analysis on BXSL

Blackstone Secured Lending Fund Price Performance

BXSL opened at $25.98 on Friday. The stock has a 50-day moving average price of $28.47 and a 200-day moving average price of $29.97. The firm has a market cap of $5.98 billion, a PE ratio of 9.15 and a beta of 0.42. Blackstone Secured Lending Fund has a 1 year low of $24.85 and a 1 year high of $34.64.

Blackstone Secured Lending Fund (NYSE:BXSL – Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.04). Blackstone Secured Lending Fund had a return on equity of 12.07% and a net margin of 44.25%.The company had revenue of $344.80 million during the quarter, compared to analysts’ expectations of $353.55 million. As a group, sell-side analysts anticipate that Blackstone Secured Lending Fund will post 3.54 EPS for the current year.

Blackstone Secured Lending Fund Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 11.9%. The ex-dividend date is Tuesday, September 30th. Blackstone Secured Lending Fund’s payout ratio is currently 108.45%.

Insider Activity

In other news, insider Robert J. Bass purchased 3,760 shares of the business’s stock in a transaction on Monday, October 6th. The stock was acquired at an average cost of $26.63 per share, for a total transaction of $100,128.80. Following the purchase, the insider directly owned 21,167 shares in the company, valued at $563,677.21. This trade represents a 21.60% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Wealth Preservation Advisors LLC purchased a new position in shares of Blackstone Secured Lending Fund during the 1st quarter valued at about $30,000. Evolution Wealth Management Inc. purchased a new position in shares of Blackstone Secured Lending Fund during the 2nd quarter valued at about $37,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Blackstone Secured Lending Fund by 45.1% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,270 shares of the company’s stock valued at $41,000 after buying an additional 395 shares in the last quarter. Spire Wealth Management lifted its position in shares of Blackstone Secured Lending Fund by 109.6% during the 2nd quarter. Spire Wealth Management now owns 1,467 shares of the company’s stock valued at $45,000 after buying an additional 767 shares in the last quarter. Finally, Rossby Financial LCC purchased a new position in shares of Blackstone Secured Lending Fund during the 1st quarter valued at about $66,000. 36.49% of the stock is owned by hedge funds and other institutional investors.

About Blackstone Secured Lending Fund

(Get Free Report)

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).

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