Blackstone Secured Lending Fund (NYSE:BXSL) Given New $33.50 Price Target at JPMorgan Chase & Co.

Blackstone Secured Lending Fund (NYSE:BXSL) had its price target raised by JPMorgan Chase & Co. from $33.00 to $33.50 in a research report sent to investors on Monday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other equities analysts have also recently commented on BXSL. Compass Point decreased their price target on shares of Blackstone Secured Lending Fund from $33.50 to $32.25 and set a “buy” rating for the company in a research report on Friday, November 15th. Wells Fargo & Company boosted their target price on Blackstone Secured Lending Fund from $29.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $32.13.

Blackstone Secured Lending Fund Price Performance

Shares of NYSE:BXSL opened at $33.51 on Monday. The firm’s 50-day moving average is $32.41 and its two-hundred day moving average is $31.08. Blackstone Secured Lending Fund has a 1 year low of $27.76 and a 1 year high of $33.80. The firm has a market capitalization of $7.50 billion, a PE ratio of 9.31 and a beta of 0.43.

Blackstone Secured Lending Fund Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Tuesday, December 31st were paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 9.19%. The ex-dividend date was Tuesday, December 31st. Blackstone Secured Lending Fund’s dividend payout ratio is presently 85.56%.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Hedge funds have recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC grew its position in shares of Blackstone Secured Lending Fund by 2,548.0% in the 4th quarter. Proficio Capital Partners LLC now owns 11,032,118 shares of the company’s stock valued at $356,448,000 after buying an additional 10,615,491 shares during the last quarter. Van ECK Associates Corp boosted its stake in Blackstone Secured Lending Fund by 57.7% in the fourth quarter. Van ECK Associates Corp now owns 5,563,231 shares of the company’s stock valued at $179,748,000 after acquiring an additional 2,035,623 shares in the last quarter. Northeast Financial Consultants Inc grew its holdings in shares of Blackstone Secured Lending Fund by 12.5% during the third quarter. Northeast Financial Consultants Inc now owns 2,096,848 shares of the company’s stock worth $61,417,000 after purchasing an additional 232,379 shares during the last quarter. CCLA Investment Management purchased a new stake in shares of Blackstone Secured Lending Fund in the 4th quarter valued at about $67,323,000. Finally, HighTower Advisors LLC boosted its position in shares of Blackstone Secured Lending Fund by 2.1% in the 3rd quarter. HighTower Advisors LLC now owns 1,125,528 shares of the company’s stock valued at $32,938,000 after purchasing an additional 23,386 shares during the period. 36.49% of the stock is currently owned by hedge funds and other institutional investors.

About Blackstone Secured Lending Fund

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).