Blackstone Secured Lending Fund (NYSE:BXSL) Stock Price Target Lowered at UBS Group

Blackstone Secured Lending Fund (NYSE:BXSL) had its price objective lowered by UBS Group from $25.50 to $25.00 in a report published on Thursday,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research firms have also recently commented on BXSL. Wall Street Zen raised Blackstone Secured Lending Fund from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Citigroup assumed coverage on shares of Blackstone Secured Lending Fund in a report on Monday, October 26th. They set a “market perform” rating for the company. Oppenheimer initiated coverage on shares of Blackstone Secured Lending Fund in a report on Thursday, July 23rd. They set a “market perform” rating and a $25.00 price objective for the company. Citizens Jmp initiated coverage on shares of Blackstone Secured Lending Fund in a research report on Monday, October 26th. They set a “market perform” rating on the stock. Finally, 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. Four equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Blackstone Secured Lending Fund presently has an average rating of “Hold” and a consensus price target of $24.83.

Blackstone Secured Lending Fund Stock Up 0.9%

Shares of Blackstone Secured Lending Fund stock opened at $24.13 on Thursday. The stock’s 50-day simple moving average is $24.13 and its 200-day simple moving average is $24.11. Blackstone Secured Lending Fund has a 52 week low of $22.47 and a 52 week high of $28.59. The company has a market capitalization of $5.62 billion, a price-to-earnings ratio of 20.11 and a beta of 0.39.

Blackstone Secured Lending Fund (NYSE:BXSL) last released its quarterly earnings data on Wednesday, November 4th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.02. Blackstone Secured Lending Fund had a return on equity of 11.44% and a net margin of 21.03%. The firm had revenue of $315.18 million during the quarter, compared to analyst estimates of $317.81 million. On average, equities analysts expect that Blackstone Secured Lending Fund will post 2.85 earnings per share for the current year.

Blackstone Secured Lending Fund Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 23rd. Stockholders of record on Wednesday, March 31st will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 9.9%. This is a negative change from Blackstone Secured Lending Fund’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Wednesday, March 31st. Blackstone Secured Lending Fund’s payout ratio is presently 256.67%.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Generali Asset Management SPA SGR grew its position in Blackstone Secured Lending Fund by 5.9% in the third quarter. Generali Asset Management SPA SGR now owns 2,755,004 shares of the company’s stock worth $66,065,000 after acquiring an additional 152,410 shares in the last quarter. OMERS ADMINISTRATION Corp lifted its stake in shares of Blackstone Secured Lending Fund by 17.3% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 2,216,715 shares of the company’s stock valued at $52,514,000 after purchasing an additional 326,366 shares during the last quarter. Quantum Portfolio Management LLC bought a new stake in shares of Blackstone Secured Lending Fund in the 1st quarter valued at approximately $38,000. Royal Bank of Canada lifted its stake in shares of Blackstone Secured Lending Fund by 1.3% in the 1st quarter. Royal Bank of Canada now owns 1,421,532 shares of the company’s stock valued at $33,677,000 after purchasing an additional 18,841 shares during the last quarter. Finally, Lunate Capital Ltd boosted its holdings in shares of Blackstone Secured Lending Fund by 27.9% in the 3rd quarter. Lunate Capital Ltd now owns 1,280,180 shares of the company’s stock worth $30,699,000 after purchasing an additional 279,362 shares during the period. 36.49% of the stock is owned by institutional investors.

About Blackstone Secured Lending Fund

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.