Blackstone Secured Lending Fund (NYSE:BXSL) Given Average Recommendation of “Moderate Buy” by Brokerages

Blackstone Secured Lending Fund (NYSE:BXSL) has been assigned an average rating of “Moderate Buy” from the eight ratings firms that are presently covering the stock, 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 target price among analysts that have updated their coverage on the stock in the last year is $31.54.

A number of research firms have recently weighed in on BXSL. Compass Point cut their price target on Blackstone Secured Lending Fund from $33.50 to $32.25 and set a “buy” rating on the stock in a research note on Friday, November 15th. Wells Fargo & Company downgraded 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.

Blackstone Secured Lending Fund Stock Performance

NYSE:BXSL opened at $32.59 on Monday. The stock’s fifty day moving average price is $31.99 and its two-hundred day moving average price is $30.88. Blackstone Secured Lending Fund has a 52-week low of $27.76 and a 52-week high of $33.48. The company has a market cap of $7.06 billion, a price-to-earnings ratio of 9.05 and a beta of 0.42.

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 paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 9.45%. The ex-dividend date of this dividend is Tuesday, December 31st. Blackstone Secured Lending Fund’s payout ratio is presently 85.56%.

Institutional Trading of Blackstone Secured Lending Fund

Several hedge funds have recently added to or reduced their stakes in the business. Sunbelt Securities Inc. raised its stake in Blackstone Secured Lending Fund by 0.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 49,442 shares of the company’s stock worth $1,448,000 after buying an additional 329 shares during the period. Investment Partners Asset Management Inc. increased its holdings in Blackstone Secured Lending Fund by 1.8% during the 3rd quarter. Investment Partners Asset Management Inc. now owns 18,305 shares of the company’s stock worth $536,000 after purchasing an additional 332 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Blackstone Secured Lending Fund by 4.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,228 shares of the company’s stock worth $241,000 after purchasing an additional 382 shares in the last quarter. Clear Point Advisors Inc. increased its holdings in Blackstone Secured Lending Fund by 15.9% during the 2nd quarter. Clear Point Advisors Inc. now owns 2,914 shares of the company’s stock worth $89,000 after purchasing an additional 400 shares in the last quarter. Finally, Maiden Cove Capital LLC increased its holdings in Blackstone Secured Lending Fund by 5.0% during the 4th quarter. Maiden Cove Capital LLC now owns 8,783 shares of the company’s stock worth $284,000 after purchasing an additional 422 shares in the last quarter. Institutional investors and hedge funds 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).