Blackstone Secured Lending Fund (NYSE:BXSL) Downgraded by Wells Fargo & Company to “Equal Weight”

Blackstone Secured Lending Fund (NYSE:BXSL) was downgraded by Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a report released on Monday, Marketbeat reports. They presently have a $29.00 price objective on the stock. Wells Fargo & Company‘s price target indicates a potential downside of 9.49% from the company’s previous close.

Other analysts have also issued research reports about the company. Compass Point decreased their price objective on Blackstone Secured Lending Fund from $33.50 to $32.25 and set a “buy” rating on the stock in a report on Friday, November 15th. JPMorgan Chase & Co. boosted their price objective on shares of Blackstone Secured Lending Fund from $31.50 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $33.00 price objective on shares of Blackstone Secured Lending Fund in a report on Wednesday, August 14th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.54.

Blackstone Secured Lending Fund Trading Up 0.4 %

Blackstone Secured Lending Fund stock opened at $32.04 on Monday. Blackstone Secured Lending Fund has a 1-year low of $27.23 and a 1-year high of $32.67. The firm’s fifty day simple moving average is $30.81 and its 200-day simple moving average is $30.66. The company has a market capitalization of $6.94 billion, a P/E ratio of 8.90 and a beta of 0.43.

Institutional Trading of Blackstone Secured Lending Fund

Several institutional investors and hedge funds have recently bought and sold shares of BXSL. Signaturefd LLC bought a new position in shares of Blackstone Secured Lending Fund in the 3rd quarter valued at $29,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Blackstone Secured Lending Fund in the second quarter worth approximately $32,000. Blue Trust Inc. boosted its position in shares of Blackstone Secured Lending Fund by 1,466.7% during the third quarter. Blue Trust Inc. now owns 1,175 shares of the company’s stock valued at $36,000 after buying an additional 1,100 shares during the last quarter. Farmers & Merchants Investments Inc. bought a new position in shares of Blackstone Secured Lending Fund during the 2nd quarter valued at approximately $37,000. Finally, Quarry LP bought a new stake in Blackstone Secured Lending Fund in the 3rd quarter valued at about $48,000. Institutional investors own 36.49% of the company’s stock.

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).