Stocks of Blackstone Secured Lending Fund (NYSE:BXSL) traded higher last session on Wall Street, down -1.36% to $22.49.
According to the data, Blackstone Secured Lending Fund (NYSE:BXSL) has 9 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $28.00 and a low of $25.00, we find $26.00. Given the previous closing price of $22.80, this indicates a potential upside of 14.04 percent. BXSL stock price is now -4.02% away from the 50-day moving average and -8.35% away from the 200-day moving average. The market capitalization of the company currently stands at $3.52B.
A total of 3 analysts have issued a hold rating and 5 have given it a buy rating. Brokers who have rated the stock have averaged $26.22 as their price target over the next twelve months.
With the price target enhanced from $26 to $27, Janney Upgraded its rating from Neutral to Buy for Blackstone Secured Lending Fund (NYSE: BXSL). , while ‘Raymond James’ rates the stock as ‘Outperform’.
In other news, Rubenstein Katherine, Chief Operating Officer bought 3,359 shares of the company’s stock on Nov 21. The stock was bought for $80,045 at an average price of $23.83. Upon completion of the transaction, the Chief Operating Officer now directly owns 3,359 shares in the company, valued at $75543.91. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 21, CEO Marshall Brad bought 100 shares of the business’s stock. A total of $2,389 was incurred on buying the stock at an average price of $23.89. This leaves the insider owning 203,284 shares of the company worth $4.57 million. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in BXSL stock. A new stake in Blackstone Secured Lending Fund shares was purchased by CLOUGH CAPITAL PARTNERS L P during the first quarter worth $11,755,000. GRIES FINANCIAL LLC invested $7,431,000 in shares of BXSL during the first quarter. In the first quarter, ADVISORS CAPITAL MANAGEMENT, LLC acquired a new stake in Blackstone Secured Lending Fund valued at approximately $6,929,000. BIGSUR WEALTH MANAGEMENT LLC acquired a new stake in BXSL for approximately $6,714,000. NORTHERN RIGHT CAPITAL MANAGEMENT, L.P. purchased a new stake in BXSL valued at around $6,635,000 in the second quarter. In total, there are 118 active investors with 39.80% ownership of the company’s stock.
Thursday’s opening bell rang with an opening price of $22.31 for Blackstone Secured Lending Fund (NYSE: BXSL). During the past 12 months, Blackstone Secured Lending Fund has had a low of $21.81 and a high of $34.47. The fifty day moving average price for BXSL is $23.43 and a two-hundred day moving average price translates $24.68 for the stock.
According to the Asset Management Company, earnings per share came in at $0.62, beating analysts’ expectations of $0.6 by 0.02. This compares to $0.74 EPS in the same period last year. The net profit margin was 51.10% and return on equity was 9.30% for BXSL. The company reported revenue of $226.79 million for the quarter, compared to $166.88 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 35.9 percent. For the current quarter, analysts expect BXSL to generate $211.27M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 01/31/2023. Investors who held shares on 12/31/2022 were paid a $0.60 dividend. On an annualized basis, this represents a $2.40 dividend and a 10.67% percent yield. There was an ex-dividend date of 12/29/2022 for this dividend. In terms of dividend payout ratio, BXSL is presently at 24.80%.
Blackstone Secured Lending Fund(BXSL) Company Profile
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). In addition, the Fund elected to be treated for U.S. federal income tax purposes, as a regulated investment company (RIC), as defined under Subchapter M of the Internal Revenue Code of 1986, as amended (the Code). The fund also intends to continue to comply with the requirements prescribed by the Code in order to maintain tax treatment as a RIC. The fund’s investment objectives are to generate current income and, to a lesser extent, long-term capital appreciation. The Fund seeks to achieve its investment objective primarily through originated loans, equity and other securities, including syndicated loans, of private U.S. companies, specifically small and middle market companies, typically in the form of first lien senior secured and unitranche loans (including first out/last out loans), and to a lesser extent, second lien, third lien, unsecured and subordinated loans and other debt and equity securities.