Blackstone Secured Lending Fund (NYSE:BXSL) Given New $32.25 Price Target at Compass Point

Blackstone Secured Lending Fund (NYSE:BXSL - Free Report) had its price objective decreased by Compass Point from $33.50 to $32.25 in a research report report published on Friday morning,Benzinga reports. Compass Point currently has a buy rating on the stock.

A number of other analysts have also issued reports on BXSL. Wells Fargo & Company cut their price target on shares of Blackstone Secured Lending Fund from $32.00 to $31.00 and set an "overweight" rating on the stock in a research note on Thursday, August 8th. Royal Bank of Canada restated an "outperform" rating and issued a $33.00 price target on shares of Blackstone Secured Lending Fund in a research note on Wednesday, August 14th. Finally, JPMorgan Chase & Co. increased their price objective on Blackstone Secured Lending Fund from $31.50 to $32.00 and gave the company an "overweight" rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.88.

Blackstone Secured Lending Fund Price Performance

Shares of BXSL stock traded down $0.05 during trading on Friday, hitting $30.86. 807,808 shares of the stock traded hands, compared to its average volume of 940,754. The firm's fifty day moving average price is $30.44 and its 200-day moving average price is $30.65. The firm has a market capitalization of $6.69 billion, a P/E ratio of 8.57 and a beta of 0.42. Blackstone Secured Lending Fund has a 52-week low of $27.23 and a 52-week high of $32.67.

Blackstone Secured Lending Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 9.98%. The ex-dividend date of this dividend is Tuesday, December 31st. Blackstone Secured Lending Fund's payout ratio is currently 85.56%.

Institutional Trading of Blackstone Secured Lending Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in BXSL. Ensign Peak Advisors Inc lifted its stake in shares of Blackstone Secured Lending Fund by 51.7% in the 2nd quarter. Ensign Peak Advisors Inc now owns 5,035,082 shares of the company's stock worth $154,174,000 after acquiring an additional 1,715,357 shares during the period. Van ECK Associates Corp lifted its position in Blackstone Secured Lending Fund by 106.5% in the second quarter. Van ECK Associates Corp now owns 3,180,714 shares of the company's stock valued at $97,393,000 after purchasing an additional 1,640,211 shares during the period. Sound Income Strategies LLC boosted its holdings in Blackstone Secured Lending Fund by 140,837.8% in the 2nd quarter. Sound Income Strategies LLC now owns 759,655 shares of the company's stock valued at $23,261,000 after purchasing an additional 759,116 shares in the last quarter. Baillie Gifford & Co. acquired a new position in Blackstone Secured Lending Fund during the 2nd quarter worth approximately $12,199,000. Finally, Magnolia Capital Advisors LLC acquired a new position in Blackstone Secured Lending Fund during the 2nd quarter worth approximately $8,042,000. 36.49% of the stock is owned by hedge funds and other institutional investors.

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).