Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Blackstone Secured Lending Fund (NYSE:BXSL) Stock

Blackstone Secured Lending Fund (NYSE:BXSL) had its price target lifted by investment analysts at Keefe, Bruyette & Woods from $30.50 to $32.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target points to a potential downside of 5.11% from the company’s previous close.

A number of other analysts have also recently weighed in on BXSL. JPMorgan Chase & Co. boosted their target price on shares of Blackstone Secured Lending Fund from $33.00 to $33.50 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Compass Point decreased their target price on Blackstone Secured Lending Fund from $33.50 to $32.25 and set a “buy” rating for the company in a research report on Friday, November 15th. Finally, Wells Fargo & Company boosted their target price on shares of Blackstone Secured Lending Fund from $29.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.79.

Blackstone Secured Lending Fund Stock Performance

Shares of BXSL stock opened at $33.72 on Thursday. The company has a market capitalization of $7.55 billion, a price-to-earnings ratio of 9.37 and a beta of 0.43. Blackstone Secured Lending Fund has a 52 week low of $27.76 and a 52 week high of $34.64. The company has a 50-day simple moving average of $32.98 and a 200 day simple moving average of $31.48.

Blackstone Secured Lending Fund (NYSE:BXSL) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.02). The company had revenue of $353.00 million during the quarter, compared to analyst estimates of $346.52 million. Blackstone Secured Lending Fund had a net margin of 53.91% and a return on equity of 13.15%. Sell-side analysts forecast that Blackstone Secured Lending Fund will post 3.54 EPS for the current year.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Proficio Capital Partners LLC increased its holdings in shares of Blackstone Secured Lending Fund by 2,548.0% in the 4th quarter. Proficio Capital Partners LLC now owns 11,032,118 shares of the company’s stock worth $356,448,000 after buying an additional 10,615,491 shares during the last quarter. CCLA Investment Management bought a new position in Blackstone Secured Lending Fund during the fourth quarter valued at approximately $67,323,000. Van ECK Associates Corp raised its stake in shares of Blackstone Secured Lending Fund by 57.7% during the fourth quarter. Van ECK Associates Corp now owns 5,563,231 shares of the company’s stock worth $179,748,000 after acquiring an additional 2,035,623 shares in the last quarter. Generali Asset Management SPA SGR purchased a new position in shares of Blackstone Secured Lending Fund during the fourth quarter worth approximately $35,640,000. Finally, Progeny 3 Inc. bought a new stake in shares of Blackstone Secured Lending Fund in the 4th quarter worth approximately $24,345,000. 36.49% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Secured Lending Fund 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).