Blackstone Secured Lending Fund (NYSE:BXSL) Rating Lowered to Sell at Wall Street Zen

by · The Markets Daily

Blackstone Secured Lending Fund (NYSE:BXSL – Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Sunday.

Several other research analysts have also commented on the company. Wells Fargo & Company lowered Blackstone Secured Lending Fund from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $26.00 to $24.00 in a research report on Wednesday, January 7th. B. Riley Financial decreased their price target on Blackstone Secured Lending Fund from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday, November 12th. Keefe, Bruyette & Woods dropped their target price on shares of Blackstone Secured Lending Fund from $29.00 to $27.00 and set an “outperform” rating on the stock in a report on Thursday. Royal Bank Of Canada reduced their price objective on Blackstone Secured Lending Fund from $32.00 to $29.00 and set an “outperform” rating for the company in a research report on Wednesday, November 12th. Finally, Bank of America dropped their price target on shares of Blackstone Secured Lending Fund from $33.50 to $29.00 and set a “buy” rating on the stock in a research note on Friday, November 28th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $28.00.

Check Out Our Latest Analysis on BXSL

Blackstone Secured Lending Fund Trading Up 1.3%

Blackstone Secured Lending Fund stock opened at $24.19 on Friday. The stock has a fifty day moving average price of $25.64 and a 200 day moving average price of $26.86. Blackstone Secured Lending Fund has a 52 week low of $23.30 and a 52 week high of $34.17. The firm has a market capitalization of $5.62 billion, a P/E ratio of 9.83 and a beta of 0.41.

Blackstone Secured Lending Fund (NYSE:BXSL – Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.79 by $0.01. Blackstone Secured Lending Fund had a net margin of 39.69% and a return on equity of 11.82%. The firm had revenue of $196.54 million during the quarter, compared to analyst estimates of $359.59 million. As a group, equities analysts predict that Blackstone Secured Lending Fund will post 3.54 EPS for the current year.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

A number of institutional investors have recently made changes to their positions in BXSL. Van ECK Associates Corp lifted its holdings in shares of Blackstone Secured Lending Fund by 112.1% in the fourth quarter. Van ECK Associates Corp now owns 5,149,915 shares of the company’s stock valued at $135,597,000 after purchasing an additional 2,721,843 shares in the last quarter. UBS Group AG raised its position in Blackstone Secured Lending Fund by 112.5% in the 4th quarter. UBS Group AG now owns 4,731,343 shares of the company’s stock valued at $124,576,000 after buying an additional 2,504,617 shares during the last quarter. Bank of America Corp DE raised its position in Blackstone Secured Lending Fund by 11.9% in the 2nd quarter. Bank of America Corp DE now owns 7,820,346 shares of the company’s stock valued at $240,476,000 after buying an additional 832,179 shares during the last quarter. Marshall Wace LLP lifted its stake in Blackstone Secured Lending Fund by 1,160.9% in the 3rd quarter. Marshall Wace LLP now owns 869,964 shares of the company’s stock valued at $22,680,000 after acquiring an additional 800,969 shares in the last quarter. Finally, Empyrean Capital Partners LP acquired a new position in Blackstone Secured Lending Fund during the 4th quarter worth approximately $20,142,000. 36.49% of the stock is owned by institutional investors and hedge funds.

Blackstone Secured Lending Fund Company Profile

(Get Free Report)

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.

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