Blackstone Secured Lending Fund (NYSE:BXSL) Sets New 52-Week High – Should You Buy?

Blackstone Secured Lending Fund (NYSE:BXSL) shares reached a new 52-week high on Friday . The stock traded as high as $33.49 and last traded at $33.35, with a volume of 389123 shares traded. The stock had previously closed at $33.08.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on BXSL shares. Wells Fargo & Company increased their target price on Blackstone Secured Lending Fund from $29.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Compass Point decreased 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 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. Based on data from MarketBeat, Blackstone Secured Lending Fund currently has an average rating of “Moderate Buy” and an average price target of $31.88.

Blackstone Secured Lending Fund Price Performance

The business has a 50-day simple moving average of $32.28 and a two-hundred day simple moving average of $30.99. The stock has a market cap of $7.47 billion, a price-to-earnings ratio of 9.27 and a beta of 0.42.

Blackstone Secured Lending Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Tuesday, December 31st were paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 9.23%. The ex-dividend date was Tuesday, December 31st. Blackstone Secured Lending Fund’s dividend payout ratio (DPR) is presently 85.56%.

Institutional Trading of Blackstone Secured Lending Fund

Several hedge funds and other institutional investors have recently modified their holdings of BXSL. Bank of Montreal Can grew its holdings in Blackstone Secured Lending Fund by 5.4% in the 2nd quarter. Bank of Montreal Can now owns 15,717 shares of the company’s stock valued at $499,000 after buying an additional 808 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Blackstone Secured Lending Fund by 15.1% during the second quarter. The Manufacturers Life Insurance Company now owns 7,846 shares of the company’s stock worth $240,000 after acquiring an additional 1,030 shares during the period. Truist Financial Corp acquired a new stake in Blackstone Secured Lending Fund in the 2nd quarter worth about $462,000. Cetera Investment Advisers boosted its holdings in Blackstone Secured Lending Fund by 0.5% in the 2nd quarter. Cetera Investment Advisers now owns 155,023 shares of the company’s stock valued at $4,747,000 after purchasing an additional 792 shares during the period. Finally, Sanctuary Advisors LLC bought a new position in shares of Blackstone Secured Lending Fund during the second quarter worth approximately $4,707,000. Institutional investors own 36.49% of the company’s stock.

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).