Blackstone Secured Lending Fund (NYSE:BXSL) Price Target Cut to $32.25 by Analysts at Compass Point

Blackstone Secured Lending Fund (NYSE:BXSL) had its price target lowered by stock analysts at Compass Point from $33.50 to $32.25 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Compass Point’s price objective would suggest a potential upside of 4.27% from the stock’s previous close.

Several other brokerages have also commented on BXSL. JPMorgan Chase & Co. upped their price objective on shares of Blackstone Secured Lending Fund from $31.50 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Wells Fargo & Company dropped their price objective on Blackstone Secured Lending Fund from $32.00 to $31.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $33.00 target price on shares of Blackstone Secured Lending Fund in a research note on Wednesday, August 14th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $31.88.

Blackstone Secured Lending Fund Price Performance

Shares of NYSE:BXSL traded up $0.02 during midday trading on Friday, reaching $30.93. 436,458 shares of the company’s stock were exchanged, compared to its average volume of 939,082. The stock has a market cap of $6.70 billion, a price-to-earnings ratio of 8.59 and a beta of 0.42. Blackstone Secured Lending Fund has a fifty-two week low of $27.23 and a fifty-two week high of $32.67. The firm’s 50 day simple moving average is $30.40 and its two-hundred day simple moving average is $30.66.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. HighTower Advisors LLC raised its stake in Blackstone Secured Lending Fund by 2.1% in the third quarter. HighTower Advisors LLC now owns 1,125,528 shares of the company’s stock valued at $32,938,000 after buying an additional 23,386 shares in the last quarter. Beck Capital Management LLC raised its position in shares of Blackstone Secured Lending Fund by 0.9% during the 3rd quarter. Beck Capital Management LLC now owns 241,281 shares of the company’s stock worth $7,067,000 after acquiring an additional 2,152 shares in the last quarter. Verition Fund Management LLC acquired a new position in Blackstone Secured Lending Fund in the third quarter valued at approximately $901,000. Rockefeller Capital Management L.P. increased its stake in Blackstone Secured Lending Fund by 20.5% in the third quarter. Rockefeller Capital Management L.P. now owns 293,485 shares of the company’s stock valued at $8,605,000 after purchasing an additional 49,834 shares during the last quarter. Finally, FORA Capital LLC raised its holdings in Blackstone Secured Lending Fund by 44.4% during the third quarter. FORA Capital LLC now owns 25,711 shares of the company’s stock worth $753,000 after purchasing an additional 7,910 shares in the last quarter. Institutional investors and hedge funds 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).