Analysts Set Blackstone Secured Lending Fund (NYSE:BXSL) PT at $31.88

Shares of Blackstone Secured Lending Fund (NYSE:BXSL) have earned an average rating of “Moderate Buy” from the eight ratings firms that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $31.54.

A number of research analysts recently weighed in on the stock. Compass Point dropped their price target on shares of Blackstone Secured Lending Fund from $33.50 to $32.25 and set a “buy” rating on the stock in a research report on Friday, November 15th. Royal Bank of Canada reissued an “outperform” rating and set a $33.00 price target on shares of Blackstone Secured Lending Fund in a research report on Wednesday, August 14th. JPMorgan Chase & Co. raised their price target 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. Finally, Wells Fargo & Company lowered shares of Blackstone Secured Lending Fund from an “overweight” rating to an “equal weight” rating and set a $29.00 price target on the stock. in a research report on Monday.

Blackstone Secured Lending Fund Price Performance

BXSL opened at $32.04 on Friday. The company’s 50-day moving average is $30.81 and its 200 day moving average is $30.66. Blackstone Secured Lending Fund has a fifty-two week low of $27.23 and a fifty-two week high of $32.67. The firm has a market capitalization of $6.94 billion, a P/E ratio of 8.90 and a beta of 0.43.

Blackstone Secured Lending Fund Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.77 per share. The ex-dividend date is Tuesday, December 31st. This represents a $3.08 annualized dividend and a dividend yield of 9.61%. Blackstone Secured Lending Fund’s payout ratio is 85.56%.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sunbelt Securities Inc. lifted its holdings in Blackstone Secured Lending Fund by 0.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 49,442 shares of the company’s stock worth $1,448,000 after purchasing an additional 329 shares in the last quarter. Investment Partners Asset Management Inc. grew its stake in Blackstone Secured Lending Fund by 1.8% during the third quarter. Investment Partners Asset Management Inc. now owns 18,305 shares of the company’s stock valued at $536,000 after acquiring an additional 332 shares in the last quarter. Financial Synergies Wealth Advisors Inc. lifted its stake in Blackstone Secured Lending Fund by 3.0% in the 2nd quarter. Financial Synergies Wealth Advisors Inc. now owns 11,888 shares of the company’s stock worth $364,000 after purchasing an additional 346 shares in the last quarter. Comerica Bank boosted its holdings in Blackstone Secured Lending Fund by 1.1% in the 1st quarter. Comerica Bank now owns 33,934 shares of the company’s stock valued at $1,057,000 after purchasing an additional 361 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of Blackstone Secured Lending Fund by 4.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,228 shares of the company’s stock valued at $241,000 after purchasing an additional 382 shares in the last quarter. 36.49% of the stock is currently owned by institutional investors.

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).