Blackstone Secured Lending Fund (NYSE:BXSL) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Blackstone Secured Lending Fund (NYSE:BXSL) have earned a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $31.54.

A number of equities analysts recently weighed in on BXSL shares. Wells Fargo & Company lowered shares of Blackstone Secured Lending Fund from an “overweight” rating to an “equal weight” rating and set a $29.00 target price for the company. in a research report on Monday, December 2nd. Compass Point dropped their target price on shares of 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.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

Several hedge funds and other institutional investors have recently made changes to their positions in BXSL. Bank of New York Mellon Corp raised its stake in shares of Blackstone Secured Lending Fund by 9.4% in the second quarter. Bank of New York Mellon Corp now owns 17,144 shares of the company’s stock valued at $525,000 after acquiring an additional 1,474 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Blackstone Secured Lending Fund by 9.7% in the second quarter. Envestnet Asset Management Inc. now owns 276,073 shares of the company’s stock valued at $8,453,000 after acquiring an additional 24,517 shares during the period. Blair William & Co. IL raised its stake in shares of Blackstone Secured Lending Fund by 106.4% in the second quarter. Blair William & Co. IL now owns 21,601 shares of the company’s stock valued at $661,000 after acquiring an additional 11,134 shares during the period. XTX Topco Ltd purchased a new stake in shares of Blackstone Secured Lending Fund in the second quarter valued at $446,000. Finally, MQS Management LLC purchased a new stake in shares of Blackstone Secured Lending Fund in the second quarter valued at $201,000. Hedge funds and other institutional investors own 36.49% of the company’s stock.

Blackstone Secured Lending Fund Stock Performance

Shares of NYSE:BXSL opened at $32.71 on Monday. The firm has a fifty day moving average price of $32.15 and a 200 day moving average price of $30.93. Blackstone Secured Lending Fund has a fifty-two week low of $27.76 and a fifty-two week high of $33.48. The firm has a market cap of $7.32 billion, a price-to-earnings ratio of 9.09 and a beta of 0.42.

Blackstone Secured Lending Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Tuesday, December 31st were paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 9.42%. The ex-dividend date was Tuesday, December 31st. Blackstone Secured Lending Fund’s payout ratio is 85.56%.

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).