Blackstone Secured Lending Fund (NYSE:BXSL) Short Interest Update

Blackstone Secured Lending Fund (NYSE:BXSLGet Free Report) was the target of a significant growth in short interest during the month of May. As of May 31st, there was short interest totalling 2,350,000 shares, a growth of 14.1% from the May 15th total of 2,060,000 shares. Based on an average daily volume of 860,900 shares, the days-to-cover ratio is currently 2.7 days. Approximately 1.5% of the company’s shares are short sold.

Blackstone Secured Lending Fund Price Performance

NYSE BXSL traded up $0.03 during trading hours on Tuesday, reaching $31.44. 83,523 shares of the stock traded hands, compared to its average volume of 899,166. The stock has a 50 day simple moving average of $31.31 and a two-hundred day simple moving average of $29.86. Blackstone Secured Lending Fund has a 1 year low of $25.83 and a 1 year high of $32.67. The company has a market cap of $6.05 billion, a price-to-earnings ratio of 8.38 and a beta of 0.45.

Blackstone Secured Lending Fund (NYSE:BXSLGet Free Report) last posted its earnings results on Wednesday, May 8th. The company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.05). Blackstone Secured Lending Fund had a return on equity of 14.06% and a net margin of 55.54%. The business had revenue of $303.96 million during the quarter, compared to the consensus estimate of $305.08 million. On average, sell-side analysts forecast that Blackstone Secured Lending Fund will post 3.56 EPS for the current fiscal year.

Blackstone Secured Lending Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Sunday, June 30th will be issued a $0.77 dividend. The ex-dividend date is Friday, June 28th. This represents a $3.08 dividend on an annualized basis and a yield of 9.80%. Blackstone Secured Lending Fund’s payout ratio is currently 82.13%.

Analysts Set New Price Targets

A number of research analysts have issued reports on BXSL shares. Bank of America raised Blackstone Secured Lending Fund from a “neutral” rating to a “buy” rating in a research note on Monday, March 25th. Raymond James reiterated a “market perform” rating on shares of Blackstone Secured Lending Fund in a research note on Thursday, February 29th. Citigroup lifted their price target on Blackstone Secured Lending Fund from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Truist Financial lifted their price target on Blackstone Secured Lending Fund from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Finally, JPMorgan Chase & Co. boosted their price objective on Blackstone Secured Lending Fund from $30.00 to $31.50 and gave the stock an “overweight” rating in a research report on Friday, April 12th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $30.92.

View Our Latest Analysis on Blackstone Secured Lending Fund

Institutional Investors Weigh In On Blackstone Secured Lending Fund

A number of large investors have recently added to or reduced their stakes in BXSL. Van ECK Associates Corp boosted its holdings in Blackstone Secured Lending Fund by 14.9% in the 1st quarter. Van ECK Associates Corp now owns 1,540,503 shares of the company’s stock worth $47,987,000 after buying an additional 200,109 shares during the period. OMERS ADMINISTRATION Corp grew its holdings in Blackstone Secured Lending Fund by 2.7% during the 3rd quarter. OMERS ADMINISTRATION Corp now owns 1,383,894 shares of the company’s stock valued at $37,863,000 after purchasing an additional 36,188 shares during the last quarter. 1832 Asset Management L.P. grew its stake in Blackstone Secured Lending Fund by 13.8% in the 1st quarter. 1832 Asset Management L.P. now owns 1,085,676 shares of the company’s stock worth $33,819,000 after acquiring an additional 131,876 shares in the last quarter. Northeast Financial Consultants Inc grew its stake in Blackstone Secured Lending Fund by 24.9% in the 3rd quarter. Northeast Financial Consultants Inc now owns 885,114 shares of the company’s stock worth $24,217,000 after acquiring an additional 176,374 shares in the last quarter. Finally, UBS Group AG boosted its stake in shares of Blackstone Secured Lending Fund by 28.5% during the fourth quarter. UBS Group AG now owns 842,540 shares of the company’s stock valued at $23,288,000 after purchasing an additional 187,016 shares in the last quarter. Institutional investors own 36.49% of the company’s stock.

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).

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