Blackstone Secured Lending Fund (NYSE:BXSL) Stock Now Rated “Hold” by Sell-Side Analysts

Shares of Blackstone Secured Lending Fund (NYSE:BXSL) have received an average rating of “Hold” from the twelve brokerages that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $24.83.

A number of equities research analysts have issued reports on the stock. Zacks Research raised shares of Blackstone Secured Lending Fund from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 5th. Oppenheimer began coverage on Blackstone Secured Lending Fund in a report on Thursday, July 23rd. They issued a “market perform” rating and a $25.00 price target for the company. Wall Street Zen upgraded Blackstone Secured Lending Fund from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Citigroup initiated coverage on Blackstone Secured Lending Fund in a research note on Monday, October 26th. They set a “market perform” rating on the stock. Finally, Citizens Jmp assumed coverage on Blackstone Secured Lending Fund in a report on Monday, October 26th. They set a “market perform” rating on the stock.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

Institutional investors and hedge funds have recently modified their holdings of the company. Allied Private Wealth LLC purchased a new position in Blackstone Secured Lending Fund during the second quarter valued at approximately $32,000. FNY Investment Advisers LLC bought a new stake in Blackstone Secured Lending Fund during the 2nd quarter worth approximately $33,000. Latitude Advisors LLC bought a new stake in Blackstone Secured Lending Fund during the 3rd quarter worth approximately $37,000. First Bancorp Inc ME purchased a new stake in Blackstone Secured Lending Fund in the 2nd quarter worth approximately $38,000. Finally, Western Wealth Management LLC purchased a new stake in Blackstone Secured Lending Fund in the 1st quarter worth approximately $58,000. 36.49% of the stock is owned by hedge funds and other institutional investors.

Blackstone Secured Lending Fund Stock Down 0.4%

NYSE BXSL opened at $24.08 on Tuesday. The company has a market cap of $5.62 billion, a PE ratio of 20.07 and a beta of 0.39. Blackstone Secured Lending Fund has a 52 week low of $22.47 and a 52 week high of $28.59. The firm’s 50-day simple moving average is $24.11 and its two-hundred day simple moving average is $24.10.

Blackstone Secured Lending Fund (NYSE:BXSL) last posted its earnings results on Wednesday, November 4th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.02. The firm had revenue of $315.18 million during the quarter, compared to the consensus estimate of $317.81 million. Blackstone Secured Lending Fund had a net margin of 21.03% and a return on equity of 11.53%. As a group, equities research analysts anticipate that Blackstone Secured Lending Fund will post 2.87 EPS for the current year.

Blackstone Secured Lending Fund Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 23rd. Stockholders of record on Wednesday, March 31st will be given a dividend of $0.60 per share. This is a drop from Blackstone Secured Lending Fund’s previous quarterly dividend of $0.77. This represents a $2.40 annualized dividend and a dividend yield of 10.0%. The ex-dividend date is Wednesday, March 31st. Blackstone Secured Lending Fund’s dividend payout ratio (DPR) is currently 256.67%.

Blackstone Secured Lending Fund Company Profile

Blackstone Secured Lending Fund (NYSE: BXSL) is a business development company that invests in privately owned middle-market companies. The fund seeks to generate current income and long-term capital appreciation primarily through investments in senior secured, floating-rate loans.

BXSL’s portfolio may also include second-lien loans, unsecured debt and equity investments. Its investments are generally made in companies across a range of industries, with an emphasis on businesses that have established operations and cash flows.