Truist Financial Raises Blackstone Secured Lending Fund (NYSE:BXSL) Price Target to $35.00

Blackstone Secured Lending Fund (NYSE:BXSL) had its price objective raised by Truist Financial from $33.00 to $35.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 6.39% from the company’s previous close.

A number of other equities analysts have also recently issued reports on BXSL. Compass Point dropped their price target on shares of Blackstone Secured Lending Fund from $33.50 to $32.25 and set a “buy” rating on the stock in a research note on Friday, November 15th. Keefe, Bruyette & Woods upped their target price on shares of Blackstone Secured Lending Fund from $30.50 to $32.00 and gave the stock a “market perform” rating in a research note on Thursday. JPMorgan Chase & Co. raised their price target on shares of Blackstone Secured Lending Fund from $33.00 to $33.50 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Wells Fargo & Company boosted their price objective on shares of Blackstone Secured Lending Fund from $29.00 to $31.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Blackstone Secured Lending Fund has a consensus rating of “Moderate Buy” and an average target price of $32.54.

Blackstone Secured Lending Fund Stock Performance

BXSL stock opened at $32.90 on Thursday. The firm has a 50 day moving average price of $32.93 and a 200-day moving average price of $31.46. Blackstone Secured Lending Fund has a 52-week low of $27.76 and a 52-week high of $34.64. The firm has a market capitalization of $7.36 billion, a price-to-earnings ratio of 9.16 and a beta of 0.43.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC grew its position in Blackstone Secured Lending Fund by 2,548.0% in the 4th quarter. Proficio Capital Partners LLC now owns 11,032,118 shares of the company’s stock worth $356,448,000 after purchasing an additional 10,615,491 shares during the period. Bank of America Corp DE grew its holdings in shares of Blackstone Secured Lending Fund by 12.5% in the fourth quarter. Bank of America Corp DE now owns 6,682,928 shares of the company’s stock worth $215,925,000 after acquiring an additional 741,285 shares during the period. Van ECK Associates Corp grew its holdings in shares of Blackstone Secured Lending Fund by 57.7% in the fourth quarter. Van ECK Associates Corp now owns 5,563,231 shares of the company’s stock worth $179,748,000 after acquiring an additional 2,035,623 shares during the period. Ensign Peak Advisors Inc increased its position in Blackstone Secured Lending Fund by 1.6% during the fourth quarter. Ensign Peak Advisors Inc now owns 4,953,039 shares of the company’s stock valued at $160,033,000 after acquiring an additional 78,054 shares during the last quarter. Finally, Northeast Financial Consultants Inc lifted its holdings in Blackstone Secured Lending Fund by 12.6% in the fourth quarter. Northeast Financial Consultants Inc now owns 2,361,294 shares of the company’s stock valued at $76,293,000 after acquiring an additional 264,446 shares during the period. 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).