Royal Bank Of Canada Lowers Blackstone Secured Lending Fund (NYSE:BXSL) Price Target to $26.00

Blackstone Secured Lending Fund (NYSE:BXSL) had its target price reduced by analysts at Royal Bank Of Canada from $28.00 to $26.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target would indicate a potential upside of 9.38% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. B. Riley Financial dropped their price target on Blackstone Secured Lending Fund from $24.50 to $23.50 and set a “neutral” rating for the company in a research note on Tuesday, May 12th. UBS Group dropped their price objective on Blackstone Secured Lending Fund from $27.50 to $24.75 and set a “neutral” rating for the company in a research note on Friday, March 13th. Wall Street Zen cut shares of Blackstone Secured Lending Fund from a “hold” rating to a “sell” rating in a report on Sunday, March 1st. Truist Financial lowered their price target on shares of Blackstone Secured Lending Fund from $33.00 to $30.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. Finally, 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 for the company in a research report on Thursday, April 16th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $25.66.

Blackstone Secured Lending Fund Trading Down 1.0%

Shares of BXSL traded down $0.25 during mid-day trading on Monday, reaching $23.77. 290,934 shares of the stock traded hands, compared to its average volume of 2,565,215. The company has a market cap of $5.53 billion, a price-to-earnings ratio of 12.46 and a beta of 0.40. Blackstone Secured Lending Fund has a 1 year low of $22.47 and a 1 year high of $32.81. The firm has a fifty day moving average price of $23.98 and a 200 day moving average price of $25.47.

Blackstone Secured Lending Fund (NYSE:BXSL) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. The company had revenue of $254.64 million for the quarter, compared to the consensus estimate of $353.15 million. Blackstone Secured Lending Fund had a return on equity of 11.73% and a net margin of 31.63%. On average, sell-side analysts anticipate that Blackstone Secured Lending Fund will post 2.83 EPS for the current year.

Insider Buying and Selling at Blackstone Secured Lending Fund

In other news, insider Robert J. Bass bought 2,095 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was purchased at an average price of $23.80 per share, with a total value of $49,861.00. Following the transaction, the insider owned 25,107 shares of the company’s stock, valued at approximately $597,546.60. The trade was a 9.10% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Institutional investors have recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. increased its stake in shares of Blackstone Secured Lending Fund by 135.1% in the 4th quarter. Armstrong Advisory Group Inc. now owns 999 shares of the company’s stock worth $26,000 after acquiring an additional 574 shares in the last quarter. Osterweis Capital Management Inc. purchased a new stake in Blackstone Secured Lending Fund in the fourth quarter worth about $33,000. Hilton Head Capital Partners LLC bought a new position in shares of Blackstone Secured Lending Fund during the fourth quarter valued at approximately $34,000. Quantum Portfolio Management LLC bought a new position in shares of Blackstone Secured Lending Fund during the first quarter valued at approximately $38,000. Finally, SHP Wealth Management purchased a new position in shares of Blackstone Secured Lending Fund during the fourth quarter valued at approximately $48,000. 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.