Blackstone Secured Lending Fund (NYSE:BXSL) Reaches New 1-Year High – What’s Next?

Blackstone Secured Lending Fund (NYSE:BXSL)’s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $32.67 and last traded at $32.62, with a volume of 293202 shares trading hands. The stock had previously closed at $32.12.

Analyst Ratings Changes

Several research firms have weighed in 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 note on Friday, November 15th. Wells Fargo & Company reduced their price objective on Blackstone Secured Lending Fund from $32.00 to $31.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $33.00 target price on shares of Blackstone Secured Lending Fund in a report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Blackstone Secured Lending Fund from $31.50 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.88.

Blackstone Secured Lending Fund Trading Up 1.4 %

The business has a 50-day moving average of $30.71 and a 200 day moving average of $30.63. The firm has a market capitalization of $7.06 billion, a PE ratio of 8.92 and a beta of 0.42.

Blackstone Secured Lending Fund Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 9.45%. The ex-dividend date of this dividend is Tuesday, December 31st. Blackstone Secured Lending Fund’s dividend payout ratio is presently 85.56%.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Several institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC purchased a new position in Blackstone Secured Lending Fund in the third quarter valued at about $29,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Blackstone Secured Lending Fund in the second quarter valued at approximately $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 valued at $36,000 after purchasing an additional 1,100 shares during the period. Farmers & Merchants Investments Inc. purchased a new stake in Blackstone Secured Lending Fund in the second quarter worth $37,000. Finally, Quarry LP bought a new stake in shares of Blackstone Secured Lending Fund in the third quarter valued at $48,000. Institutional investors own 36.49% of the company’s stock.

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).