Blackstone Secured Lending Fund (NYSE:BXSL) Stock Price Up 1.3% – Here’s What Happened

Blackstone Secured Lending Fund (NYSE:BXSL) shot up 1.3% on Tuesday . The company traded as high as $32.83 and last traded at $32.78. 971,909 shares changed hands during trading, an increase of 1% from the average session volume of 963,035 shares. The stock had previously closed at $32.36.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Truist Financial lifted their price target on Blackstone Secured Lending Fund from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Wells Fargo & Company boosted their target price on Blackstone Secured Lending Fund from $29.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods increased their price target on shares of Blackstone Secured Lending Fund from $30.50 to $32.00 and gave the company a “market perform” rating in a research report on Thursday, February 27th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Blackstone Secured Lending Fund from $33.00 to $33.50 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Blackstone Secured Lending Fund currently has an average rating of “Moderate Buy” and an average price target of $32.79.

Blackstone Secured Lending Fund Trading Down 2.4 %

The firm has a fifty day moving average of $33.17 and a two-hundred day moving average of $31.97. The company has a market capitalization of $7.23 billion, a PE ratio of 8.81 and a beta of 0.43.

Blackstone Secured Lending Fund (NYSE:BXSL) last issued its earnings results on Wednesday, February 26th. The company reported $0.84 earnings per share (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 firm had revenue of $353.00 million during the quarter, compared to the consensus estimate of $346.52 million. On average, equities analysts expect that Blackstone Secured Lending Fund will post 3.54 EPS for the current fiscal year.

Blackstone Secured Lending Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 9.71%. The ex-dividend date of this dividend is Monday, March 31st. Blackstone Secured Lending Fund’s dividend payout ratio (DPR) is 88.76%.

Institutional Trading of Blackstone Secured Lending Fund

A number of institutional investors have recently modified their holdings of the company. Tidal Investments LLC raised its position in Blackstone Secured Lending Fund by 2.3% during the 4th quarter. Tidal Investments LLC now owns 14,280 shares of the company’s stock valued at $461,000 after purchasing an additional 320 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of Blackstone Secured Lending Fund by 1.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 20,189 shares of the company’s stock valued at $644,000 after buying an additional 325 shares during the period. Sunbelt Securities Inc. raised its holdings in shares of Blackstone Secured Lending Fund by 0.7% during the third quarter. Sunbelt Securities Inc. now owns 49,442 shares of the company’s stock valued at $1,448,000 after acquiring an additional 329 shares in the last quarter. Delphi Management Inc. MA lifted its stake in Blackstone Secured Lending Fund by 0.7% in the fourth quarter. Delphi Management Inc. MA now owns 47,745 shares of the company’s stock worth $1,543,000 after acquiring an additional 330 shares during the period. Finally, Wealthspire Advisors LLC boosted its holdings in Blackstone Secured Lending Fund by 1.9% in the fourth quarter. Wealthspire Advisors LLC now owns 19,232 shares of the company’s stock valued at $621,000 after acquiring an additional 350 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 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).