Compass Point Cuts Blackstone Secured Lending Fund (NYSE:BXSL) Price Target to $32.25

Blackstone Secured Lending Fund (NYSE:BXSL) had its price target decreased by Compass Point from $33.50 to $32.25 in a research report report published on Friday,Benzinga reports. Compass Point currently has a buy rating on the stock.

BXSL has been the topic of several other reports. Royal Bank of Canada reissued an “outperform” rating and issued a $33.00 target price on shares of Blackstone Secured Lending Fund in a research note on Wednesday, August 14th. JPMorgan Chase & Co. raised their target price on Blackstone Secured Lending Fund from $31.50 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Finally, Wells Fargo & Company cut their price objective on Blackstone Secured Lending Fund from $32.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.88.

Blackstone Secured Lending Fund Price Performance

NYSE BXSL opened at $31.07 on Friday. The stock has a market capitalization of $6.73 billion, a PE ratio of 8.63 and a beta of 0.42. Blackstone Secured Lending Fund has a 1 year low of $27.23 and a 1 year high of $32.67. The business’s 50-day moving average is $30.44 and its 200 day moving average is $30.63.

Blackstone Secured Lending Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.08 annualized dividend and a yield of 9.91%. Blackstone Secured Lending Fund’s payout ratio is 85.56%.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Several large investors have recently made changes to their positions in the business. Sunbelt Securities Inc. lifted its holdings in shares of Blackstone Secured Lending Fund by 0.7% during the third quarter. Sunbelt Securities Inc. now owns 49,442 shares of the company’s stock valued at $1,448,000 after purchasing an additional 329 shares during the last quarter. MML Investors Services LLC lifted its holdings in shares of Blackstone Secured Lending Fund by 8.3% during the third quarter. MML Investors Services LLC now owns 40,850 shares of the company’s stock valued at $1,196,000 after purchasing an additional 3,131 shares during the last quarter. Northeast Financial Consultants Inc raised its holdings in Blackstone Secured Lending Fund by 12.5% in the 3rd quarter. Northeast Financial Consultants Inc now owns 2,096,848 shares of the company’s stock worth $61,417,000 after acquiring an additional 232,379 shares during the last quarter. Kovitz Investment Group Partners LLC purchased a new position in Blackstone Secured Lending Fund in the 3rd quarter worth approximately $354,000. Finally, Quarry LP purchased a new position in Blackstone Secured Lending Fund in the 3rd quarter worth approximately $48,000. 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).