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

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

Several other equities research analysts have also commented on BXSL. Wells Fargo & Company increased their price objective on shares of Blackstone Secured Lending Fund from $29.00 to $31.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Compass Point decreased their price target on 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. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Blackstone Secured Lending Fund currently has an average rating of “Moderate Buy” and a consensus price target of $32.13.

Blackstone Secured Lending Fund Price Performance

BXSL opened at $33.67 on Monday. The firm’s fifty day moving average price is $32.32 and its two-hundred day moving average price is $31.02. The company has a market capitalization of $7.54 billion, a price-to-earnings ratio of 9.35 and a beta of 0.43. Blackstone Secured Lending Fund has a 1 year low of $27.76 and a 1 year high of $33.80.

Blackstone Secured Lending Fund Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Tuesday, December 31st were issued a $0.77 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.08 dividend on an annualized basis and a dividend yield of 9.15%. Blackstone Secured Lending Fund’s dividend payout ratio (DPR) is presently 85.56%.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Institutional investors have recently bought and sold shares of the company. Truist Financial Corp bought a new position in shares of Blackstone Secured Lending Fund during the 2nd quarter worth $462,000. Destiny Wealth Partners LLC lifted its holdings in Blackstone Secured Lending Fund by 6.5% during the third quarter. Destiny Wealth Partners LLC now owns 367,988 shares of the company’s stock valued at $10,778,000 after purchasing an additional 22,478 shares during the last quarter. LaFleur & Godfrey LLC bought a new position in Blackstone Secured Lending Fund during the third quarter worth about $2,337,000. Griffin Asset Management Inc. boosted its position in Blackstone Secured Lending Fund by 25.5% during the third quarter. Griffin Asset Management Inc. now owns 24,348 shares of the company’s stock worth $713,000 after purchasing an additional 4,952 shares during the period. Finally, Acorn Creek Capital LLC increased its stake in shares of Blackstone Secured Lending Fund by 3.1% in the third quarter. Acorn Creek Capital LLC now owns 18,237 shares of the company’s stock worth $534,000 after purchasing an additional 545 shares in the last quarter. Hedge funds and other institutional investors own 36.49% of the company’s stock.

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).