Blackstone Secured Lending Fund (NYSE:BXSL) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Blackstone Secured Lending Fund (NYSE:BXSL) have earned an average rating of “Moderate Buy” from the eight brokerages that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $31.54.

A number of analysts recently weighed in on the stock. Compass Point lowered 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 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 note on Monday, December 2nd.

Institutional Trading of Blackstone Secured Lending Fund

Hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp increased its stake in Blackstone Secured Lending Fund by 9.4% in the second quarter. Bank of New York Mellon Corp now owns 17,144 shares of the company’s stock valued at $525,000 after purchasing an additional 1,474 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Blackstone Secured Lending Fund by 8.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 179,809 shares of the company’s stock worth $5,506,000 after acquiring an additional 13,415 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in Blackstone Secured Lending Fund by 45.2% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 75,631 shares of the company’s stock valued at $2,316,000 after acquiring an additional 23,546 shares during the period. Pine Valley Investments Ltd Liability Co lifted its holdings in shares of Blackstone Secured Lending Fund by 5.0% during the 2nd quarter. Pine Valley Investments Ltd Liability Co now owns 154,849 shares of the company’s stock valued at $4,743,000 after purchasing an additional 7,309 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC grew its position in shares of Blackstone Secured Lending Fund by 216.7% in the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 41,670 shares of the company’s stock valued at $1,276,000 after purchasing an additional 28,513 shares during the period. 36.49% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Secured Lending Fund Trading Up 1.6 %

BXSL opened at $33.01 on Thursday. Blackstone Secured Lending Fund has a 1-year low of $27.47 and a 1-year high of $33.01. The stock has a market capitalization of $7.15 billion, a PE ratio of 9.17 and a beta of 0.43. The firm has a 50-day moving average price of $31.52 and a two-hundred day moving average price of $30.76.

Blackstone Secured Lending Fund Announces Dividend

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

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).