Truist Financial Lowers Blackstone Secured Lending Fund (NYSE:BXSL) Price Target to $26.00

Blackstone Secured Lending Fund (NYSE:BXSL) had its price target dropped by stock analysts at Truist Financial from $30.00 to $26.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 10.05% from the company’s previous close.

Several other analysts have also recently commented on the company. Royal Bank Of Canada reduced their price target on Blackstone Secured Lending Fund from $28.00 to $26.00 and set an “outperform” rating for the company in a report on Monday. Wall Street Zen cut Blackstone Secured Lending Fund from a “hold” rating to a “sell” rating in a research report on Sunday, March 1st. UBS Group decreased their target price on shares of Blackstone Secured Lending Fund from $24.75 to $24.50 and set a “neutral” rating on the stock in a research report on Monday. Keefe, Bruyette & Woods lowered their price target on shares of Blackstone Secured Lending Fund from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Thursday, April 16th. Finally, Wells Fargo & Company cut their price target on shares of Blackstone Secured Lending Fund from $24.00 to $22.00 and set an “underweight” rating for the company in a report on Friday, May 8th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $25.13.

Blackstone Secured Lending Fund Price Performance

Shares of BXSL stock traded down $0.05 during mid-day trading on Tuesday, hitting $23.63. The stock had a trading volume of 401,684 shares, compared to its average volume of 2,574,486. The firm has a market cap of $5.50 billion, a PE ratio of 12.37 and a beta of 0.40. The company’s 50-day simple moving average is $23.98 and its 200-day simple moving average is $25.44. Blackstone Secured Lending Fund has a fifty-two week low of $22.47 and a fifty-two week high of $32.81.

Blackstone Secured Lending Fund (NYSE:BXSL) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.02. Blackstone Secured Lending Fund had a net margin of 31.63% and a return on equity of 11.73%. The firm had revenue of $254.64 million during the quarter, compared to analysts’ expectations of $353.15 million. On average, analysts expect that Blackstone Secured Lending Fund will post 2.83 EPS for the current year.

Insider Buying and Selling

In other news, insider Robert J. Bass bought 2,095 shares of the stock in a transaction on Tuesday, May 12th. The shares were bought at an average price of $23.80 per share, with a total value of $49,861.00. Following the completion of the acquisition, the insider owned 25,107 shares of the company’s stock, valued at approximately $597,546.60. This trade represents a 9.10% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

Several institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE increased its holdings in Blackstone Secured Lending Fund by 11.9% during the 2nd quarter. Bank of America Corp DE now owns 7,820,346 shares of the company’s stock valued at $240,476,000 after acquiring an additional 832,179 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Blackstone Secured Lending Fund by 112.1% in the fourth quarter. Van ECK Associates Corp now owns 5,149,915 shares of the company’s stock valued at $135,597,000 after purchasing an additional 2,721,843 shares in the last quarter. UBS Group AG grew its position in shares of Blackstone Secured Lending Fund by 112.5% in the fourth quarter. UBS Group AG now owns 4,731,343 shares of the company’s stock valued at $124,576,000 after purchasing an additional 2,504,617 shares during the last quarter. Strs Ohio acquired a new stake in shares of Blackstone Secured Lending Fund in the first quarter valued at approximately $94,760,000. Finally, Northeast Financial Consultants Inc increased its stake in shares of Blackstone Secured Lending Fund by 6.9% during the 2nd quarter. Northeast Financial Consultants Inc now owns 3,359,523 shares of the company’s stock worth $103,305,000 after purchasing an additional 216,835 shares in the last quarter. 36.49% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Secured Lending Fund Company Profile

Blackstone Secured Lending Fund (NYSE: BXSL) is a closed-end management investment company sponsored by Blackstone Credit, the credit-oriented business of Blackstone Inc Launched in May 2020, BXSL seeks to deliver attractive risk-adjusted returns primarily through current income and, to a lesser extent, capital appreciation. The fund raises capital from institutional and retail investors and deploys it into a diversified portfolio of senior secured loans and other credit instruments.

The fund’s principal investment focus is on first-lien senior secured loans and unitranche debt extended to middle-market companies across North America.