Blackstone Secured Lending Fund (NYSE:BXSL) Sets New 1-Year High – Here’s What Happened

Blackstone Secured Lending Fund (NYSE:BXSL)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $32.75 and last traded at $32.74, with a volume of 121816 shares traded. The stock had previously closed at $32.49.

Analyst Ratings Changes

A number of equities analysts have recently commented on BXSL shares. Compass Point dropped their price target on shares of Blackstone Secured Lending Fund from $33.50 to $32.25 and set a “buy” rating on the stock in a research report on Friday, November 15th. Wells Fargo & Company lowered shares of Blackstone Secured Lending Fund from an “overweight” rating to an “equal weight” rating and set a $29.00 target price for the company. in a research report on Monday, December 2nd. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.54.

Blackstone Secured Lending Fund Stock Performance

The company’s 50 day moving average is $31.52 and its 200 day moving average is $30.76. The stock has a market capitalization of $7.15 billion, a price-to-earnings ratio of 9.17 and a beta of 0.43.

Blackstone Secured Lending Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 9.33%. The ex-dividend date is Tuesday, December 31st. Blackstone Secured Lending Fund’s dividend payout ratio is currently 85.56%.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Magnus Financial Group LLC grew its holdings in shares of Blackstone Secured Lending Fund by 22.4% during the 2nd quarter. Magnus Financial Group LLC now owns 17,644 shares of the company’s stock worth $540,000 after purchasing an additional 3,226 shares in the last quarter. Essex Financial Services Inc. acquired a new position in Blackstone Secured Lending Fund in the second quarter worth about $233,000. Rothschild Investment LLC bought a new position in Blackstone Secured Lending Fund during the second quarter worth about $122,000. Naviter Wealth LLC boosted its holdings in Blackstone Secured Lending Fund by 24.8% during the second quarter. Naviter Wealth LLC now owns 130,294 shares of the company’s stock valued at $4,090,000 after purchasing an additional 25,876 shares in the last quarter. Finally, Legacy Capital Wealth Partners LLC bought a new stake in shares of Blackstone Secured Lending Fund in the 2nd quarter valued at approximately $1,729,000. 36.49% of the stock is currently owned by institutional investors.

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).