Blackstone Secured Lending Fund (NYSE:BXSL) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Blackstone Secured Lending Fund (NYSE:BXSL) had its price objective lifted by Wells Fargo & Company from $29.00 to $31.00 in a research report released on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Separately, Compass Point dropped 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 research note on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $31.88.

Blackstone Secured Lending Fund Trading Up 1.2 %

Shares of NYSE BXSL opened at $33.49 on Wednesday. The company has a market cap of $7.50 billion, a price-to-earnings ratio of 9.30 and a beta of 0.42. Blackstone Secured Lending Fund has a 12 month low of $27.76 and a 12 month high of $33.57. The stock has a 50-day moving average price of $32.32 and a two-hundred day moving average price of $31.01.

Blackstone Secured Lending Fund Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 9.20%. The ex-dividend date of this dividend was Tuesday, December 31st. Blackstone Secured Lending Fund’s payout ratio is 85.56%.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

A number of hedge funds have recently modified their holdings of BXSL. Destiny Wealth Partners LLC raised its position in Blackstone Secured Lending Fund by 6.5% during the 3rd quarter. Destiny Wealth Partners LLC now owns 367,988 shares of the company’s stock worth $10,778,000 after purchasing an additional 22,478 shares during the last quarter. LaFleur & Godfrey LLC bought a new position in Blackstone Secured Lending Fund during the 3rd quarter worth approximately $2,337,000. Griffin Asset Management Inc. lifted its position in shares of Blackstone Secured Lending Fund by 25.5% in the 3rd quarter. Griffin Asset Management Inc. now owns 24,348 shares of the company’s stock worth $713,000 after purchasing an additional 4,952 shares during the period. Acorn Creek Capital LLC boosted its stake in shares of Blackstone Secured Lending Fund by 3.1% in the 3rd quarter. Acorn Creek Capital LLC now owns 18,237 shares of the company’s stock valued at $534,000 after purchasing an additional 545 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. increased its position in shares of Blackstone Secured Lending Fund by 13.1% during the third quarter. Redhawk Wealth Advisors Inc. now owns 26,265 shares of the company’s stock worth $769,000 after buying an additional 3,039 shares during the period. Institutional investors and hedge funds 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).