Blackstone Secured Lending Fund (NYSE:BXSL) Given New $31.50 Price Target at JPMorgan Chase & Co.

Blackstone Secured Lending Fund (NYSE:BXSL) had its price objective hoisted by JPMorgan Chase & Co. from $30.00 to $31.50 in a research report sent to investors on Friday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other brokerages have also recently weighed in on BXSL. Truist Financial boosted their price objective on Blackstone Secured Lending Fund from $30.00 to $32.00 and gave the stock a buy rating in a report on Thursday, February 29th. Bank of America upgraded Blackstone Secured Lending Fund from a neutral rating to a buy rating in a research report on Monday, March 25th. Wells Fargo & Company upped their price objective on Blackstone Secured Lending Fund from $28.50 to $30.50 and gave the company an overweight rating in a report on Monday, January 29th. Raymond James restated a market perform rating on shares of Blackstone Secured Lending Fund in a report on Thursday, February 29th. Finally, Citigroup upped their price target on Blackstone Secured Lending Fund from $30.00 to $31.00 and gave the company a buy rating in a research note on Thursday, February 29th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $30.92.

Blackstone Secured Lending Fund Stock Performance

Shares of BXSL stock opened at $30.45 on Friday. The stock’s fifty day moving average is $30.07 and its 200-day moving average is $28.63. The stock has a market capitalization of $5.83 billion, a PE ratio of 8.34 and a beta of 0.49. Blackstone Secured Lending Fund has a 52 week low of $24.83 and a 52 week high of $31.71.

Blackstone Secured Lending Fund (NYSE:BXSL) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.04. The firm had revenue of $304.00 million during the quarter, compared to analysts’ expectations of $290.58 million. Blackstone Secured Lending Fund had a net margin of 53.50% and a return on equity of 14.44%. As a group, analysts forecast that Blackstone Secured Lending Fund will post 3.62 earnings per share for the current fiscal year.

Blackstone Secured Lending Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Sunday, March 31st will be given a $0.77 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.08 annualized dividend and a dividend yield of 10.11%. Blackstone Secured Lending Fund’s dividend payout ratio is presently 84.38%.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

Several large investors have recently made changes to their positions in BXSL. PNC Financial Services Group Inc. boosted its stake in Blackstone Secured Lending Fund by 57.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,034 shares of the company’s stock worth $28,000 after purchasing an additional 376 shares during the period. Harbour Investments Inc. lifted its holdings in shares of Blackstone Secured Lending Fund by 8.9% in the second quarter. Harbour Investments Inc. now owns 4,755 shares of the company’s stock valued at $130,000 after purchasing an additional 390 shares in the last quarter. Kavar Capital Partners Group LLC boosted its position in shares of Blackstone Secured Lending Fund by 1.2% during the third quarter. Kavar Capital Partners Group LLC now owns 40,435 shares of the company’s stock worth $1,106,000 after buying an additional 465 shares during the period. Goodwin Daniel L grew its holdings in shares of Blackstone Secured Lending Fund by 6.3% during the third quarter. Goodwin Daniel L now owns 8,450 shares of the company’s stock worth $231,000 after buying an additional 500 shares in the last quarter. Finally, Guyasuta Investment Advisors Inc. raised its position in Blackstone Secured Lending Fund by 1.6% in the 4th quarter. Guyasuta Investment Advisors Inc. now owns 31,400 shares of the company’s stock valued at $868,000 after buying an additional 500 shares during the last quarter. Institutional investors own 36.49% of the company’s stock.

About Blackstone Secured Lending Fund

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).