Blackstone Secured Lending Fund (NYSE:BXSL) Price Target Cut to $26.00 by Analysts at Truist Financial

Blackstone Secured Lending Fund (NYSE:BXSL) had its price objective decreased by Truist Financial from $30.00 to $26.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 10.05% from the stock’s current price.

A number of other analysts also recently issued reports on BXSL. UBS Group decreased their price target on Blackstone Secured Lending Fund from $24.75 to $24.50 and set a “neutral” rating for the company in a report on Monday. Wells Fargo & Company cut their target price on Blackstone Secured Lending Fund from $24.00 to $22.00 and set an “underweight” rating on the stock in a research report on Friday, May 8th. Wall Street Zen cut Blackstone Secured Lending Fund from a “hold” rating to a “sell” rating in a research note on Sunday, March 1st. Keefe, Bruyette & Woods dropped their price target on shares of Blackstone Secured Lending Fund from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Thursday, April 16th. Finally, B. Riley Financial cut their price objective on shares of Blackstone Secured Lending Fund from $24.50 to $23.50 and set a “neutral” rating on the stock in a report on Tuesday, May 12th. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $25.13.

Blackstone Secured Lending Fund Stock Down 0.2%

NYSE BXSL traded down $0.05 on Tuesday, hitting $23.63. 401,684 shares of the stock were exchanged, compared to its average volume of 2,574,486. Blackstone Secured Lending Fund has a fifty-two week low of $22.47 and a fifty-two week high of $32.81. The company has a 50-day moving average price of $23.98 and a 200-day moving average price of $25.44. The company has a market cap of $5.50 billion, a PE ratio of 12.37 and a beta of 0.40.

Blackstone Secured Lending Fund (NYSE:BXSL) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The business had revenue of $254.64 million for the quarter, compared to analyst estimates of $353.15 million. Blackstone Secured Lending Fund had a net margin of 31.63% and a return on equity of 11.73%. As a group, equities research analysts predict that Blackstone Secured Lending Fund will post 2.83 EPS for the current fiscal year.

Insider Activity at Blackstone Secured Lending Fund

In other Blackstone Secured Lending Fund news, insider Robert J. Bass purchased 2,095 shares of Blackstone Secured Lending Fund stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average price of $23.80 per share, for a total transaction of $49,861.00. Following the transaction, the insider directly owned 25,107 shares in the company, valued at $597,546.60. This trade represents a 9.10% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

Institutional investors and hedge funds have recently made changes to their positions in the business. Empowered Funds LLC boosted its stake in shares of Blackstone Secured Lending Fund by 139.9% during the first quarter. Empowered Funds LLC now owns 18,340 shares of the company’s stock worth $593,000 after buying an additional 10,696 shares during the period. Invesco Ltd. raised its stake in Blackstone Secured Lending Fund by 15.9% during the 2nd quarter. Invesco Ltd. now owns 90,513 shares of the company’s stock valued at $2,783,000 after acquiring an additional 12,450 shares during the last quarter. Marshall Wace LLP acquired a new stake in Blackstone Secured Lending Fund during the 2nd quarter worth approximately $2,122,000. NewEdge Advisors LLC lifted its position in Blackstone Secured Lending Fund by 568.7% during the 2nd quarter. NewEdge Advisors LLC now owns 20,281 shares of the company’s stock worth $624,000 after acquiring an additional 17,248 shares during the period. Finally, Nebula Research & Development LLC purchased a new position in shares of Blackstone Secured Lending Fund in the 2nd quarter valued at approximately $455,000. 36.49% of the stock is owned by hedge funds and other institutional investors.

Blackstone Secured Lending Fund Company Profile

Blackstone Secured Lending Fund (NYSE: BXSL) is a closed-end management investment company sponsored by Blackstone Credit, the credit-oriented business of Blackstone Inc Launched in May 2020, BXSL seeks to deliver attractive risk-adjusted returns primarily through current income and, to a lesser extent, capital appreciation. The fund raises capital from institutional and retail investors and deploys it into a diversified portfolio of senior secured loans and other credit instruments.

The fund’s principal investment focus is on first-lien senior secured loans and unitranche debt extended to middle-market companies across North America.