Shares of Blackstone Secured Lending Fund (NYSE:BXSL – Get Rating) have been assigned a consensus rating of "Buy" from the six research firms that are currently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $27.58.
Several brokerages recently weighed in on BXSL. Wells Fargo & Company decreased their price objective on Blackstone Secured Lending Fund from $26.00 to $25.00 and set an "overweight" rating for the company in a report on Monday, October 24th. Janney Montgomery Scott upgraded Blackstone Secured Lending Fund from a "neutral" rating to a "buy" rating and raised their target price for the stock from $26.00 to $27.00 in a research note on Friday, November 11th. Finally, Royal Bank of Canada dropped their price target on Blackstone Secured Lending Fund from $29.00 to $28.00 and set an "outperform" rating for the company in a research report on Friday, November 11th.
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Insider Activity at Blackstone Secured Lending Fund
In related news, COO Katherine Rubenstein bought 3,359 shares of the company's stock in a transaction on Monday, November 21st. The shares were acquired at an average cost of $23.83 per share, with a total value of $80,044.97. Following the completion of the acquisition, the chief operating officer now owns 3,359 shares of the company's stock, valued at approximately $80,044.97. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Blackstone Secured Lending Fund news, COO Katherine Rubenstein purchased 3,359 shares of the stock in a transaction dated Monday, November 21st. The shares were purchased at an average cost of $23.83 per share, with a total value of $80,044.97. Following the completion of the acquisition, the chief operating officer now directly owns 3,359 shares in the company, valued at approximately $80,044.97. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brad Marshall acquired 3,481 shares of Blackstone Secured Lending Fund stock in a transaction that occurred on Friday, November 18th. The shares were purchased at an average price of $24.08 per share, with a total value of $83,822.48. Following the transaction, the chief executive officer now owns 189,495 shares of the company's stock, valued at approximately $4,563,039.60. The disclosure for this purchase can be found here. Insiders have bought 6,940 shares of company stock worth $166,256 over the last ninety days. 0.09% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Blackstone Secured Lending Fund
A number of hedge funds have recently made changes to their positions in BXSL. Shikiar Asset Management Inc. lifted its stake in shares of Blackstone Secured Lending Fund by 79.5% in the 2nd quarter. Shikiar Asset Management Inc. now owns 63,530 shares of the company's stock valued at $1,502,000 after purchasing an additional 28,130 shares during the last quarter. Joel Isaacson & Co. LLC purchased a new position in Blackstone Secured Lending Fund during the 2nd quarter worth $474,000. Acropolis Investment Management LLC purchased a new position in Blackstone Secured Lending Fund during the 2nd quarter worth $173,000. Transcend Capital Advisors LLC increased its holdings in Blackstone Secured Lending Fund by 367.3% during the 2nd quarter. Transcend Capital Advisors LLC now owns 77,645 shares of the company's stock worth $1,836,000 after purchasing an additional 61,029 shares during the period. Finally, RVW Wealth LLC increased its holdings in shares of Blackstone Secured Lending Fund by 100.0% in the 2nd quarter. RVW Wealth LLC now owns 19,818 shares of the company's stock valued at $468,000 after acquiring an additional 9,909 shares during the period. Institutional investors own 31.16% of the company's stock.
Blackstone Secured Lending Fund Stock Up 2.0 %
Shares of BXSL opened at $22.94 on Tuesday. Blackstone Secured Lending Fund has a 12-month low of $22.00 and a 12-month high of $38.32. The business's fifty day moving average is $23.46 and its 200 day moving average is $23.72. The stock has a market cap of $3.67 billion, a P/E ratio of 9.52 and a beta of 0.38.
Blackstone Secured Lending Fund (NYSE:BXSL – Get Rating) last released its quarterly earnings results on Thursday, November 10th. The company reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.68 by $0.12. Blackstone Secured Lending Fund had a return on equity of 10.37% and a net margin of 51.09%. The business had revenue of $226.79 million during the quarter, compared to analyst estimates of $205.78 million. On average, analysts expect that Blackstone Secured Lending Fund will post 2.88 EPS for the current year.
Blackstone Secured Lending Fund Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Saturday, December 31st will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, December 29th. This is a positive change from Blackstone Secured Lending Fund's previous quarterly dividend of $0.20. This represents a $2.40 annualized dividend and a dividend yield of 10.46%. Blackstone Secured Lending Fund's payout ratio is currently 99.59%.
Blackstone Secured Lending Fund Company Profile
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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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