Truist Financial Issues Positive Forecast for Blackstone Secured Lending Fund (NYSE:BXSL) Stock Price

Blackstone Secured Lending Fund (NYSE:BXSL) had its price objective lifted by research analysts at Truist Financial from $33.00 to $35.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 3.78% from the stock’s previous close.

Several other brokerages have also recently issued reports on BXSL. Wells Fargo & Company upped their target price on shares of Blackstone Secured Lending Fund from $29.00 to $31.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. upped their price objective on shares of Blackstone Secured Lending Fund from $33.00 to $33.50 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Compass Point cut their target price on Blackstone Secured Lending Fund from $33.50 to $32.25 and set a “buy” rating on the stock in a research report on Friday, November 15th. Finally, Keefe, Bruyette & Woods upped their target price on Blackstone Secured Lending Fund from $30.50 to $32.00 and gave the company a “market perform” rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.79.

Blackstone Secured Lending Fund Price Performance

Shares of BXSL opened at $33.72 on Thursday. The stock has a market cap of $7.55 billion, a PE ratio of 9.37 and a beta of 0.43. Blackstone Secured Lending Fund has a 1-year low of $27.76 and a 1-year high of $34.64. The firm has a 50-day simple moving average of $32.98 and a two-hundred day simple moving average of $31.48.

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

Hedge Funds Weigh In On Blackstone Secured Lending Fund

A number of large investors have recently bought and sold shares of the company. Farther Finance Advisors LLC acquired a new stake in Blackstone Secured Lending Fund in the third quarter valued at about $406,000. Avidian Wealth Enterprises LLC boosted its holdings in Blackstone Secured Lending Fund by 53.8% during the third quarter. Avidian Wealth Enterprises LLC now owns 54,380 shares of the company’s stock worth $1,593,000 after buying an additional 19,017 shares in the last quarter. Crescent Grove Advisors LLC increased its holdings in Blackstone Secured Lending Fund by 2.5% in the third quarter. Crescent Grove Advisors LLC now owns 75,742 shares of the company’s stock valued at $2,277,000 after buying an additional 1,880 shares in the last quarter. abrdn plc boosted its stake in shares of Blackstone Secured Lending Fund by 2.7% during the 3rd quarter. abrdn plc now owns 53,577 shares of the company’s stock worth $1,572,000 after acquiring an additional 1,403 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in Blackstone Secured Lending Fund by 10.9% during the third quarter. Van ECK Associates Corp now owns 3,527,608 shares of the company’s stock worth $109,814,000 after purchasing an additional 346,894 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).