Blackstone Secured Lending Fund (NYSE:BXSL) Given Consensus Recommendation of “Moderate Buy” by 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 stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $32.13.

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on Blackstone Secured Lending Fund from $33.00 to $33.50 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Wells Fargo & Company lifted their target price on Blackstone Secured Lending Fund from $29.00 to $31.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Finally, Compass Point cut 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.

Institutional Trading of Blackstone Secured Lending Fund

Institutional investors have recently modified their holdings of the business. Proficio Capital Partners LLC lifted its holdings in Blackstone Secured Lending Fund by 2,548.0% in the fourth quarter. Proficio Capital Partners LLC now owns 11,032,118 shares of the company’s stock valued at $356,448,000 after acquiring an additional 10,615,491 shares during the period. Bank of America Corp DE increased its holdings in shares of Blackstone Secured Lending Fund by 12.5% in the 4th quarter. Bank of America Corp DE now owns 6,682,928 shares of the company’s stock valued at $215,925,000 after purchasing an additional 741,285 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Blackstone Secured Lending Fund by 57.7% during the fourth quarter. Van ECK Associates Corp now owns 5,563,231 shares of the company’s stock worth $179,748,000 after buying an additional 2,035,623 shares in the last quarter. Ensign Peak Advisors Inc grew its position in Blackstone Secured Lending Fund by 1.6% during the fourth quarter. Ensign Peak Advisors Inc now owns 4,953,039 shares of the company’s stock worth $160,033,000 after buying an additional 78,054 shares during the period. Finally, Northeast Financial Consultants Inc increased its holdings in Blackstone Secured Lending Fund by 12.6% in the fourth quarter. Northeast Financial Consultants Inc now owns 2,361,294 shares of the company’s stock valued at $76,293,000 after buying an additional 264,446 shares in the last quarter. 36.49% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Secured Lending Fund Stock Performance

Shares of Blackstone Secured Lending Fund stock opened at $34.46 on Friday. The company’s fifty day moving average is $32.80 and its two-hundred day moving average is $31.34. Blackstone Secured Lending Fund has a 1 year low of $27.76 and a 1 year high of $34.64. The company has a market capitalization of $7.71 billion, a P/E ratio of 9.57 and a beta of 0.43.

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).