Blackstone Secured Lending Fund (NYSE:BXSL) Receives $31.54 Consensus PT from Brokerages

Shares of Blackstone Secured Lending Fund (NYSE:BXSL) have been assigned an average recommendation of “Moderate Buy” from the eight analysts that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $31.54.

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

Blackstone Secured Lending Fund Stock Performance

NYSE:BXSL opened at $33.07 on Thursday. Blackstone Secured Lending Fund has a 52-week low of $27.54 and a 52-week high of $33.48. The stock has a fifty day moving average of $31.71 and a 200 day moving average of $30.81. The firm has a market capitalization of $7.17 billion, a price-to-earnings ratio of 9.19 and a beta of 0.43.

Blackstone Secured Lending Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.77 per share. The ex-dividend date is Tuesday, December 31st. This represents a $3.08 dividend on an annualized basis and a dividend yield of 9.31%. Blackstone Secured Lending Fund’s dividend payout ratio is presently 85.56%.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

Institutional investors and hedge funds have recently modified their holdings of the stock. Ensign Peak Advisors Inc raised its stake in Blackstone Secured Lending Fund by 51.7% in the second quarter. Ensign Peak Advisors Inc now owns 5,035,082 shares of the company’s stock worth $154,174,000 after buying an additional 1,715,357 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Blackstone Secured Lending Fund by 10.9% during the 3rd quarter. Van ECK Associates Corp now owns 3,527,608 shares of the company’s stock worth $109,814,000 after acquiring an additional 346,894 shares during the period. Northeast Financial Consultants Inc raised its position in shares of 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 in the last quarter. HighTower Advisors LLC lifted its stake in shares of Blackstone Secured Lending Fund by 2.1% in the 3rd quarter. HighTower Advisors LLC now owns 1,125,528 shares of the company’s stock valued at $32,938,000 after purchasing an additional 23,386 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Blackstone Secured Lending Fund by 4.7% during the third quarter. JPMorgan Chase & Co. now owns 1,032,508 shares of the company’s stock valued at $30,242,000 after purchasing an additional 46,771 shares in the last quarter. 36.49% of the stock is owned by hedge funds and other institutional investors.

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).