Blackstone Secured Lending Fund (NYSE:BXSL) Receives $31.54 Average Price Target from Analysts

Blackstone Secured Lending Fund (NYSE:BXSL) has been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $31.54.

A number of equities research analysts have commented on the stock. Compass Point decreased 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 lowered 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 research report on Monday, December 2nd.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC acquired a new position in shares of Blackstone Secured Lending Fund during the third quarter worth about $29,000. MassMutual Private Wealth & Trust FSB acquired a new position in Blackstone Secured Lending Fund during the fourth quarter valued at approximately $31,000. CKW Financial Group acquired a new stake in Blackstone Secured Lending Fund in the fourth quarter valued at $32,000. Blue Trust Inc. grew its holdings in Blackstone Secured Lending Fund by 1,466.7% during the third quarter. Blue Trust Inc. now owns 1,175 shares of the company’s stock worth $36,000 after purchasing an additional 1,100 shares during the period. Finally, Quarry LP acquired a new stake in shares of Blackstone Secured Lending Fund in the third quarter valued at approximately $48,000. 36.49% of the stock is owned by institutional investors and hedge funds.

Blackstone Secured Lending Fund Stock Performance

Shares of BXSL stock opened at $32.44 on Monday. The stock’s fifty day moving average is $32.05 and its 200-day moving average is $30.90. The stock has a market capitalization of $7.03 billion, a PE ratio of 9.01 and a beta of 0.42. Blackstone Secured Lending Fund has a 52 week low of $27.76 and a 52 week high of $33.48.

Blackstone Secured Lending Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Tuesday, December 31st will be given a $0.77 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.08 annualized dividend and a dividend yield of 9.50%. Blackstone Secured Lending Fund’s dividend payout ratio 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).