Blackstone Secured Lending Fund (NYSE:BXSL) Sets New 52-Week High – Still a Buy?

Blackstone Secured Lending Fund (NYSE:BXSL) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $32.75 and last traded at $32.74, with a volume of 121816 shares changing hands. The stock had previously closed at $32.49.

Wall Street Analysts Forecast Growth

BXSL has been the topic of several recent analyst reports. Compass Point reduced their target price on shares of Blackstone Secured Lending Fund from $33.50 to $32.25 and set a “buy” rating on the stock in a research note on Friday, November 15th. Wells Fargo & Company cut shares of Blackstone Secured Lending Fund from an “overweight” rating to an “equal weight” rating and set a $29.00 price objective on the stock. in a research note on Monday, December 2nd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $31.54.

Blackstone Secured Lending Fund Trading Up 1.6 %

The stock has a market cap of $7.15 billion, a P/E ratio of 9.17 and a beta of 0.43. The business’s fifty day simple moving average is $31.52 and its 200 day simple moving average is $30.76.

Blackstone Secured Lending Fund Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Tuesday, December 31st will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 9.33%. The ex-dividend date is Tuesday, December 31st. Blackstone Secured Lending Fund’s dividend payout ratio is currently 85.56%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Ensign Peak Advisors Inc raised its position in shares of Blackstone Secured Lending Fund by 51.7% during the second quarter. Ensign Peak Advisors Inc now owns 5,035,082 shares of the company’s stock worth $154,174,000 after acquiring an additional 1,715,357 shares during the last quarter. Van ECK Associates Corp raised its holdings in Blackstone Secured Lending Fund by 106.5% during the 2nd quarter. Van ECK Associates Corp now owns 3,180,714 shares of the company’s stock worth $97,393,000 after purchasing an additional 1,640,211 shares during the last quarter. Magnolia Capital Advisors LLC bought a new position in shares of Blackstone Secured Lending Fund in the 2nd quarter valued at about $8,042,000. Northeast Financial Consultants Inc grew its position in shares of Blackstone Secured Lending Fund by 16.1% during the 2nd quarter. Northeast Financial Consultants Inc now owns 1,864,469 shares of the company’s stock worth $57,090,000 after buying an additional 258,966 shares during the period. Finally, Border to Coast Pensions Partnership Ltd bought a new stake in shares of Blackstone Secured Lending Fund during the third quarter worth approximately $7,301,000. Institutional investors and hedge funds own 36.49% of the company’s stock.

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).