Blackstone Secured Lending Fund (NYSE:BXSL) Receives Outperform Rating from Royal Bank of Canada

Blackstone Secured Lending Fund (NYSE:BXSL)‘s stock had its “outperform” rating reiterated by equities research analysts at Royal Bank of Canada in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $33.00 price target on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 10.59% from the stock’s previous close.

Several other research firms have also commented on BXSL. Wells Fargo & Company decreased their price target on shares of Blackstone Secured Lending Fund from $32.00 to $31.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. raised their price objective on shares of Blackstone Secured Lending Fund from $31.50 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $31.42.

Blackstone Secured Lending Fund Stock Performance

Shares of NYSE BXSL traded down $0.16 during midday trading on Wednesday, reaching $29.84. 553,007 shares of the company’s stock were exchanged, compared to its average volume of 923,829. The stock has a market capitalization of $5.74 billion, a PE ratio of 7.96 and a beta of 0.44. Blackstone Secured Lending Fund has a 52-week low of $25.83 and a 52-week high of $32.67. The business’s fifty day moving average price is $30.79 and its two-hundred day moving average price is $30.59.

Blackstone Secured Lending Fund (NYSE:BXSL) last announced its earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.01). The business had revenue of $327.06 million during the quarter, compared to analyst estimates of $310.23 million. Blackstone Secured Lending Fund had a net margin of 55.54% and a return on equity of 14.06%. During the same period in the previous year, the company earned $1.06 earnings per share. Analysts predict that Blackstone Secured Lending Fund will post 3.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Several hedge funds have recently bought and sold shares of BXSL. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Blackstone Secured Lending Fund during the 2nd quarter worth about $32,000. Farmers & Merchants Investments Inc. bought a new stake in Blackstone Secured Lending Fund in the 2nd quarter valued at $37,000. PSI Advisors LLC raised its stake in shares of Blackstone Secured Lending Fund by 68.0% in the 1st quarter. PSI Advisors LLC now owns 2,100 shares of the company’s stock valued at $65,000 after buying an additional 850 shares in the last quarter. Cape Investment Advisory Inc. bought a new position in shares of Blackstone Secured Lending Fund during the 4th quarter worth about $65,000. Finally, Security National Bank acquired a new stake in shares of Blackstone Secured Lending Fund during the 4th quarter valued at about $73,000. 36.49% of the stock is owned by institutional investors and hedge funds.

About Blackstone Secured Lending Fund

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).