Blackstone Secured Lending Fund (NYSE:BXSL) Given New $22.00 Price Target at Wells Fargo & Company

Blackstone Secured Lending Fund (NYSE:BXSL) had its price target reduced by stock analysts at Wells Fargo & Company from $24.00 to $22.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential downside of 9.08% from the company’s previous close.

A number of other equities analysts have also recently commented on the stock. Truist Financial dropped their price target on shares of Blackstone Secured Lending Fund from $33.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. B. Riley Financial lowered shares of Blackstone Secured Lending Fund from a “buy” rating to a “neutral” rating and set a $24.50 price objective on the stock. in a research report on Thursday, April 9th. JPMorgan Chase & Co. dropped their target price on Blackstone Secured Lending Fund from $27.00 to $24.00 and set an “overweight” rating for the company in a research report on Friday, March 13th. Keefe, Bruyette & Woods cut their target price on 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, Wall Street Zen downgraded Blackstone Secured Lending Fund from a “hold” rating to a “sell” rating in a report on Sunday, March 1st. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $26.03.

Blackstone Secured Lending Fund Stock Down 1.4%

Shares of BXSL opened at $24.20 on Friday. The business has a fifty day moving average of $24.03 and a 200 day moving average of $25.58. The company has a market cap of $5.62 billion, a PE ratio of 9.84 and a beta of 0.40. Blackstone Secured Lending Fund has a 52-week low of $22.47 and a 52-week high of $32.81.

Blackstone Secured Lending Fund (NYSE:BXSL) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. Blackstone Secured Lending Fund had a net margin of 39.69% and a return on equity of 11.82%. The business had revenue of $254.64 million for the quarter, compared to analysts’ expectations of $353.15 million. As a group, research analysts anticipate that Blackstone Secured Lending Fund will post 2.92 earnings per share for the current fiscal year.

Institutional Trading of Blackstone Secured Lending Fund

Institutional investors and hedge funds have recently modified their holdings of the stock. Strs Ohio bought a new position in Blackstone Secured Lending Fund in the first quarter worth approximately $94,760,000. Van ECK Associates Corp raised its position in Blackstone Secured Lending Fund by 112.1% during the 4th 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 raised its position in Blackstone Secured Lending Fund by 112.5% during the 4th 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 in the last quarter. Quantum Portfolio Management LLC purchased a new stake in shares of Blackstone Secured Lending Fund in the 1st quarter worth $38,000. Finally, Bank of America Corp DE grew its position in shares of 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 worth $240,476,000 after buying an additional 832,179 shares in the last quarter. Institutional investors own 36.49% of the company’s stock.

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.