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

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

Several equities analysts have recently issued reports on the company. Compass Point lowered their price target on 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 reiterated an “outperform” rating and set a $33.00 price objective on shares of Blackstone Secured Lending Fund in a research report on Wednesday, August 14th. Finally, Wells Fargo & Company lowered 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 report on Monday, December 2nd.

Blackstone Secured Lending Fund Stock Performance

Shares of BXSL opened at $32.07 on Friday. Blackstone Secured Lending Fund has a one year low of $27.37 and a one year high of $32.67. The firm has a market capitalization of $6.95 billion, a price-to-earnings ratio of 8.91 and a beta of 0.43. The stock’s fifty day moving average is $30.92 and its 200-day moving average is $30.68.

Blackstone Secured Lending Fund Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Tuesday, December 31st will be given a $0.77 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.08 dividend on an annualized basis and a yield of 9.60%. Blackstone Secured Lending Fund’s payout ratio is 85.56%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD bought a new stake in shares of Blackstone Secured Lending Fund in the 1st quarter valued at approximately $3,623,000. Comerica Bank grew its position in Blackstone Secured Lending Fund by 1.1% in the first quarter. Comerica Bank now owns 33,934 shares of the company’s stock worth $1,057,000 after acquiring an additional 361 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of Blackstone Secured Lending Fund by 374.1% during the 1st quarter. Cetera Investment Advisers now owns 154,231 shares of the company’s stock worth $4,804,000 after purchasing an additional 121,698 shares during the last quarter. Cetera Advisors LLC raised its holdings in shares of Blackstone Secured Lending Fund by 777.1% during the 1st quarter. Cetera Advisors LLC now owns 68,924 shares of the company’s stock valued at $2,147,000 after purchasing an additional 61,066 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Blackstone Secured Lending Fund in the 2nd quarter valued at $32,000. Hedge funds and other 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).