Blackstone Secured Lending Fund (NYSE:BXSL) Receives Average Recommendation of “Moderate Buy” from Analysts

Blackstone Secured Lending Fund (NYSE:BXSL) has received a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $31.54.

A number of brokerages have issued reports on BXSL. Wells Fargo & Company cut Blackstone Secured Lending Fund from an “overweight” rating to an “equal weight” rating and set a $29.00 target price for the company. in a research report on Monday, December 2nd. Compass Point decreased their price objective on shares of Blackstone Secured Lending Fund from $33.50 to $32.25 and set a “buy” rating for the company in a report on Friday, November 15th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BXSL. Signaturefd LLC acquired a new stake in shares of Blackstone Secured Lending Fund during the 3rd quarter worth about $29,000. Blue Trust Inc. raised its stake in shares of Blackstone Secured Lending Fund by 1,466.7% in the third quarter. Blue Trust Inc. now owns 1,175 shares of the company’s stock valued at $36,000 after acquiring an additional 1,100 shares during the last quarter. Farmers & Merchants Investments Inc. acquired a new position in shares of Blackstone Secured Lending Fund in the 2nd quarter worth approximately $37,000. Quarry LP bought a new stake in Blackstone Secured Lending Fund during the 3rd quarter worth approximately $48,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in Blackstone Secured Lending Fund during the 3rd quarter worth approximately $72,000. 36.49% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Secured Lending Fund Stock Performance

BXSL opened at $33.01 on Thursday. The stock has a 50-day moving average of $31.52 and a 200-day moving average of $30.76. Blackstone Secured Lending Fund has a 52-week low of $27.47 and a 52-week high of $33.01. The company has a market cap of $7.15 billion, a PE ratio of 9.17 and a beta of 0.43.

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 paid a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 9.33%. The ex-dividend date is Tuesday, December 31st. Blackstone Secured Lending Fund’s dividend payout ratio is 85.56%.

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).