Blackstone Secured Lending Fund (NYSE:BXSL) Price Target Lowered to $31.00 at Keefe, Bruyette & Woods

Blackstone Secured Lending Fund (NYSE:BXSL) had its price target lowered by research analysts at Keefe, Bruyette & Woods from $32.00 to $31.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 6.75% from the company’s previous close.

A number of other equities research analysts have also recently commented on BXSL. Truist Financial raised their target price on Blackstone Secured Lending Fund from $33.00 to $35.00 and gave the company 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 research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Blackstone Secured Lending Fund from $33.00 to $33.50 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Blackstone Secured Lending Fund has a consensus rating of “Moderate Buy” and an average price target of $32.63.

Blackstone Secured Lending Fund Stock Performance

Shares of BXSL stock opened at $29.04 on Tuesday. Blackstone Secured Lending Fund has a fifty-two week low of $25.89 and a fifty-two week high of $34.64. The stock’s 50-day simple moving average is $32.57 and its 200-day simple moving average is $31.88. The firm has a market capitalization of $6.62 billion, a PE ratio of 8.07 and a beta of 0.43.

Blackstone Secured Lending Fund (NYSE:BXSL) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.02). The company had revenue of $353.00 million during the quarter, compared to analyst estimates of $346.52 million. Blackstone Secured Lending Fund had a net margin of 53.91% and a return on equity of 13.15%. Sell-side analysts forecast that Blackstone Secured Lending Fund will post 3.54 earnings per share for the current year.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

Several large investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company grew its stake in shares of Blackstone Secured Lending Fund by 4.9% during the third quarter. The Manufacturers Life Insurance Company now owns 8,228 shares of the company’s stock worth $241,000 after purchasing an additional 382 shares in the last quarter. Quarry LP acquired a new stake in shares of Blackstone Secured Lending Fund during the third quarter worth about $48,000. Kovitz Investment Group Partners LLC purchased a new position in shares of Blackstone Secured Lending Fund during the third quarter worth approximately $354,000. MML Investors Services LLC increased its holdings in shares of Blackstone Secured Lending Fund by 8.3% in the 3rd quarter. MML Investors Services LLC now owns 40,850 shares of the company’s stock valued at $1,196,000 after acquiring an additional 3,131 shares during the period. Finally, Sunbelt Securities Inc. raised its holdings in shares of Blackstone Secured Lending Fund by 0.7% in the third quarter. Sunbelt Securities Inc. now owns 49,442 shares of the company’s stock valued at $1,448,000 after buying an additional 329 shares during the last quarter. Hedge funds and other 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).