Blackstone Secured Lending Fund (NYSE:BXSL) Receives $31.54 Average PT from Brokerages

Blackstone Secured Lending Fund (NYSE:BXSL) has been given an average recommendation of “Moderate Buy” by the eight analysts that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $31.54.

A number of research firms recently weighed in on BXSL. Compass Point dropped their price objective on shares of 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. Wells Fargo & Company cut Blackstone Secured Lending Fund from an “overweight” rating to an “equal weight” rating and set a $29.00 price target on the stock. in a report on Monday, December 2nd.

Institutional Trading of Blackstone Secured Lending Fund

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Signaturefd LLC purchased a new stake in shares of Blackstone Secured Lending Fund during the third quarter valued at $29,000. Blue Trust Inc. increased its position in shares of Blackstone Secured Lending Fund by 1,466.7% in the third quarter. Blue Trust Inc. now owns 1,175 shares of the company’s stock worth $36,000 after acquiring an additional 1,100 shares in the last quarter. Farmers & Merchants Investments Inc. purchased a new position in shares of Blackstone Secured Lending Fund in the second quarter worth approximately $37,000. Quarry LP purchased a new stake in shares of Blackstone Secured Lending Fund in the 3rd quarter valued at approximately $48,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in Blackstone Secured Lending Fund in the 3rd quarter worth approximately $72,000. Institutional investors own 36.49% of the company’s stock.

Blackstone Secured Lending Fund Price Performance

Shares of NYSE BXSL opened at $33.27 on Thursday. The firm has a market capitalization of $7.21 billion, a PE ratio of 9.24 and a beta of 0.43. Blackstone Secured Lending Fund has a 1-year low of $27.47 and a 1-year high of $33.48. The business’s fifty day moving average price is $31.67 and its two-hundred day moving average price is $30.80.

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 issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 9.26%. The ex-dividend date is Tuesday, December 31st. Blackstone Secured Lending Fund’s dividend payout ratio (DPR) is presently 85.56%.

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).