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

Blackstone Secured Lending Fund (NYSE:BXSL) has been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $31.54.

A number of research analysts recently weighed in on the company. Wells Fargo & Company lowered Blackstone Secured Lending Fund from an “overweight” rating to an “equal weight” rating and set a $29.00 target price on the stock. in a report on Monday, December 2nd. Compass Point decreased their target price on Blackstone Secured Lending Fund from $33.50 to $32.25 and set a “buy” rating on the stock in a report on Friday, November 15th.

Blackstone Secured Lending Fund Trading Down 0.2 %

BXSL stock opened at $32.59 on Monday. The firm has a market capitalization of $7.06 billion, a PE ratio of 9.05 and a beta of 0.42. Blackstone Secured Lending Fund has a 1-year low of $27.76 and a 1-year high of $33.48. The business’s 50 day simple moving average is $31.99 and its 200 day simple moving average is $30.88.

Blackstone Secured Lending Fund Dividend Announcement

The company 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. The ex-dividend date is Tuesday, December 31st. This represents a $3.08 annualized dividend and a yield of 9.45%. Blackstone Secured Lending Fund’s dividend payout ratio (DPR) is presently 85.56%.

Institutional Trading of Blackstone Secured Lending Fund

Several institutional investors have recently added to or reduced their stakes in the company. Sunbelt Securities Inc. lifted its position in shares of Blackstone Secured Lending Fund by 0.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 49,442 shares of the company’s stock valued at $1,448,000 after acquiring an additional 329 shares during the period. Investment Partners Asset Management Inc. lifted its position in shares of Blackstone Secured Lending Fund by 1.8% during the 3rd quarter. Investment Partners Asset Management Inc. now owns 18,305 shares of the company’s stock valued at $536,000 after acquiring an additional 332 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Blackstone Secured Lending Fund by 4.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,228 shares of the company’s stock valued at $241,000 after acquiring an additional 382 shares during the period. Clear Point Advisors Inc. lifted its position in shares of Blackstone Secured Lending Fund by 15.9% during the 2nd quarter. Clear Point Advisors Inc. now owns 2,914 shares of the company’s stock valued at $89,000 after acquiring an additional 400 shares during the period. Finally, Maiden Cove Capital LLC lifted its position in shares of Blackstone Secured Lending Fund by 5.0% during the 4th quarter. Maiden Cove Capital LLC now owns 8,783 shares of the company’s stock valued at $284,000 after acquiring an additional 422 shares during the period. 36.49% of the stock is currently owned by 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).