Blackstone Secured Lending Fund (NYSE:BXSL) Reaches New 12-Month High – Here’s What Happened

Blackstone Secured Lending Fund (NYSE:BXSL)’s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $33.49 and last traded at $33.35, with a volume of 389123 shares changing hands. The stock had previously closed at $33.08.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. 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 report on Friday, November 15th. Wells Fargo & Company raised their target price on Blackstone Secured Lending Fund from $29.00 to $31.00 and gave the company an “equal weight” rating in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Blackstone Secured Lending Fund has an average rating of “Moderate Buy” and a consensus price target of $31.88.

Blackstone Secured Lending Fund Stock Performance

The company has a market cap of $7.47 billion, a price-to-earnings ratio of 9.27 and a beta of 0.42. The company’s 50 day moving average price is $32.28 and its 200 day moving average price is $30.99.

Blackstone Secured Lending Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Tuesday, December 31st were issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 9.23%. The ex-dividend date of this dividend was Tuesday, December 31st. Blackstone Secured Lending Fund’s payout ratio is currently 85.56%.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

Hedge funds have recently added to or reduced their stakes in the stock. CCLA Investment Management acquired a new position in shares of Blackstone Secured Lending Fund during the fourth quarter worth approximately $67,323,000. Van ECK Associates Corp raised its position in Blackstone Secured Lending Fund by 57.7% in the 4th quarter. Van ECK Associates Corp now owns 5,563,231 shares of the company’s stock worth $179,748,000 after purchasing an additional 2,035,623 shares during the last quarter. Border to Coast Pensions Partnership Ltd acquired a new position in Blackstone Secured Lending Fund during the 3rd quarter worth $7,301,000. Northeast Financial Consultants Inc boosted its position in Blackstone Secured Lending Fund by 12.5% in the 3rd quarter. Northeast Financial Consultants Inc now owns 2,096,848 shares of the company’s stock valued at $61,417,000 after buying an additional 232,379 shares during the last quarter. Finally, Ibex Wealth Advisors increased its stake in shares of Blackstone Secured Lending Fund by 2,348.1% in the 4th quarter. Ibex Wealth Advisors now owns 223,221 shares of the company’s stock valued at $7,212,000 after buying an additional 214,103 shares during the period. 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).