Truist Financial Initiates Coverage on Blackstone Secured Lending Fund (NYSE:BXSL)

Posted by Defense World Staff on Oct 12th, 2023

Research analysts at Truist Financial initiated coverage on shares of Blackstone Secured Lending Fund (NYSE:BXSL – Get Free Report) in a research note issued on Tuesday, MarketBeat.com reports. The brokerage set a “buy” rating and a $29.00 price target on the stock. Truist Financial’s price target would indicate a potential upside of 8.82% from the stock’s current price.

A number of other equities research analysts have also recently commented on the stock. Citigroup increased their price target on shares of Blackstone Secured Lending Fund from $28.00 to $30.00 and gave the company a “buy” rating in a report on Friday, August 11th. Royal Bank of Canada increased their price target on shares of Blackstone Secured Lending Fund from $28.00 to $31.00 and gave the company an “outperform” rating in a report on Friday, August 11th. Finally, Raymond James raised their target price on shares of Blackstone Secured Lending Fund from $28.00 to $29.50 and gave the stock an “outperform” rating in a report on Monday, August 14th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $28.36.

Get Our Latest Stock Report on Blackstone Secured Lending Fund

Blackstone Secured Lending Fund Stock Performance

NYSE BXSL opened at $26.65 on Tuesday. The company has a market capitalization of $4.41 billion, a P/E ratio of 8.60 and a beta of 0.51. The company has a fifty day moving average of $27.48 and a 200-day moving average of $26.64. Blackstone Secured Lending Fund has a 52-week low of $22.08 and a 52-week high of $29.11.

Blackstone Secured Lending Fund (NYSE:BXSL – Get Free Report) last issued its quarterly earnings data on Wednesday, August 9th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.99 by $0.07. Blackstone Secured Lending Fund had a net margin of 48.55% and a return on equity of 14.15%. The firm had revenue of $290.37 million during the quarter, compared to the consensus estimate of $276.36 million. As a group, analysts forecast that Blackstone Secured Lending Fund will post 3.92 EPS for the current fiscal year.

Institutional Trading of Blackstone Secured Lending Fund

Several institutional investors and hedge funds have recently modified their holdings of BXSL. Moneta Group Investment Advisors LLC bought a new stake in shares of Blackstone Secured Lending Fund during the 4th quarter valued at $222,243,000. State of Wisconsin Board of Commissioners of Public Lands bought a new stake in shares of Blackstone Secured Lending Fund during the 1st quarter valued at $32,315,000. Marshall Wace LLP bought a new stake in shares of Blackstone Secured Lending Fund during the 4th quarter valued at $17,414,000. Amplius Wealth Advisors LLC raised its position in shares of Blackstone Secured Lending Fund by 209.6% during the 1st quarter. Amplius Wealth Advisors LLC now owns 1,132,548 shares of the company’s stock valued at $28,234,000 after purchasing an additional 766,723 shares during the period. Finally, BlackRock Inc. grew its stake in Blackstone Secured Lending Fund by 9,764.9% during the first quarter. BlackRock Inc. now owns 769,262 shares of the company’s stock valued at $19,178,000 after acquiring an additional 761,464 shares in the last quarter. 36.96% of the stock is currently owned by institutional investors.

Blackstone Secured Lending Fund Company Profile

(Get Free Report)

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).