Blackstone Secured Lending Fund (NYSE:BXSL) Rating Lowered to “Equal Weight” at Wells Fargo & Company

Wells Fargo & Company lowered shares of Blackstone Secured Lending Fund (NYSE:BXSL) from an overweight rating to an equal weight rating in a report published on Monday morning, Marketbeat Ratings reports. Wells Fargo & Company currently has $29.00 price target on the stock.

Several other equities analysts also recently commented on the company. JPMorgan Chase & Co. increased their price target on Blackstone Secured Lending Fund from $31.50 to $32.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $33.00 price target on shares of Blackstone Secured Lending Fund in a report on Wednesday, August 14th. Finally, Compass Point reduced their price objective 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 investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $31.54.

Blackstone Secured Lending Fund Stock Down 0.7 %

Shares of BXSL stock opened at $31.80 on Monday. Blackstone Secured Lending Fund has a 12 month low of $27.23 and a 12 month high of $32.67. The business’s 50 day moving average is $30.85 and its two-hundred day moving average is $30.66. The company has a market cap of $6.89 billion, a PE ratio of 8.83 and a beta of 0.43.

Blackstone Secured Lending Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Tuesday, December 31st will be given a $0.77 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.08 annualized dividend and a dividend yield of 9.69%. Blackstone Secured Lending Fund’s dividend payout ratio is 85.56%.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

Several hedge funds have recently modified their holdings of the business. Ensign Peak Advisors Inc lifted its position in Blackstone Secured Lending Fund by 51.7% in the second quarter. Ensign Peak Advisors Inc now owns 5,035,082 shares of the company’s stock worth $154,174,000 after purchasing an additional 1,715,357 shares during the period. Van ECK Associates Corp lifted its position in Blackstone Secured Lending Fund by 10.9% in the third quarter. Van ECK Associates Corp now owns 3,527,608 shares of the company’s stock worth $109,814,000 after purchasing an additional 346,894 shares during the period. Northeast Financial Consultants Inc lifted its position in Blackstone Secured Lending Fund by 12.5% in 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 period. HighTower Advisors LLC lifted its position in Blackstone Secured Lending Fund by 2.1% in the third quarter. HighTower Advisors LLC now owns 1,125,528 shares of the company’s stock worth $32,938,000 after purchasing an additional 23,386 shares during the period. Finally, Sound Income Strategies LLC lifted its position in Blackstone Secured Lending Fund by 22.0% in the third quarter. Sound Income Strategies LLC now owns 926,633 shares of the company’s stock worth $27,141,000 after purchasing an additional 166,978 shares during the period. 36.49% of the stock is owned by institutional investors.

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).