Blackstone Secured Lending Fund (NYSE:BXSL) Price Target Lowered to $30.00 at Truist Financial

Blackstone Secured Lending Fund (NYSE:BXSL) had its price target decreased by Truist Financial from $33.00 to $30.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s target price indicates a potential upside of 23.66% from the stock’s previous close.

BXSL has been the subject of several other reports. Keefe, Bruyette & Woods cut their price target on shares of Blackstone Secured Lending Fund from $29.00 to $27.00 and set an “outperform” rating for the company in a report on Thursday, February 26th. B. Riley Financial dropped their price objective on shares of Blackstone Secured Lending Fund from $32.00 to $30.00 and set a “buy” rating for the company in a report on Wednesday, November 12th. Wall Street Zen cut shares of Blackstone Secured Lending Fund from a “hold” rating to a “sell” rating in a research note on Sunday. Wells Fargo & Company downgraded Blackstone Secured Lending Fund from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $26.00 to $24.00 in a report on Wednesday, January 7th. Finally, Royal Bank Of Canada decreased their price target on Blackstone Secured Lending Fund from $29.00 to $28.00 and set an “outperform” rating on the stock in a research report on Tuesday. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $28.13.

Blackstone Secured Lending Fund Stock Down 0.3%

NYSE:BXSL traded down $0.07 during trading hours on Wednesday, reaching $24.26. The company had a trading volume of 303,690 shares, compared to its average volume of 2,366,363. The stock has a 50-day moving average of $25.59 and a two-hundred day moving average of $26.82. Blackstone Secured Lending Fund has a one year low of $23.30 and a one year high of $33.73. The firm has a market capitalization of $5.64 billion, a PE ratio of 9.86 and a beta of 0.43.

Blackstone Secured Lending Fund (NYSE:BXSL) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.01. Blackstone Secured Lending Fund had a return on equity of 11.82% and a net margin of 39.69%.The company had revenue of $196.54 million during the quarter, compared to analysts’ expectations of $359.59 million. As a group, sell-side analysts expect that Blackstone Secured Lending Fund will post 3.54 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Delphi Management Inc. MA boosted its position in Blackstone Secured Lending Fund by 0.9% in the 4th quarter. Delphi Management Inc. MA now owns 45,939 shares of the company’s stock valued at $1,210,000 after buying an additional 421 shares during the last quarter. Prime Capital Investment Advisors LLC lifted its stake in shares of Blackstone Secured Lending Fund by 5.9% during the third quarter. Prime Capital Investment Advisors LLC now owns 7,704 shares of the company’s stock valued at $201,000 after acquiring an additional 430 shares during the period. Comprehensive Money Management Services LLC lifted its stake in shares of Blackstone Secured Lending Fund by 2.7% during the third quarter. Comprehensive Money Management Services LLC now owns 16,916 shares of the company’s stock valued at $441,000 after acquiring an additional 440 shares during the period. Walter & Keenan Wealth Management LLC IN ADV boosted its holdings in Blackstone Secured Lending Fund by 1.8% in the fourth quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 25,632 shares of the company’s stock valued at $675,000 after acquiring an additional 443 shares during the last quarter. Finally, Wealthspire Advisors LLC increased its position in Blackstone Secured Lending Fund by 2.4% in the fourth quarter. Wealthspire Advisors LLC now owns 19,343 shares of the company’s stock worth $509,000 after purchasing an additional 461 shares during the period. Institutional investors own 36.49% of the company’s stock.

About Blackstone Secured Lending Fund

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.