Blackstone Secured Lending Fund (NYSE:BXSL) Sets New 12-Month High - Here's Why

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $34.52 and last traded at $34.52, with a volume of 205486 shares traded. The stock had previously closed at $33.88.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on BXSL shares. Wells Fargo & Company upped their price target on Blackstone Secured Lending Fund from $29.00 to $31.00 and gave the company an "equal weight" rating in a research report on Wednesday, January 29th. Compass Point dropped their price objective on shares of Blackstone Secured Lending Fund from $33.50 to $32.25 and set a "buy" rating on the stock in a report on Friday, November 15th. Finally, JPMorgan Chase & Co. increased their target price on shares of Blackstone Secured Lending Fund from $33.00 to $33.50 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Blackstone Secured Lending Fund has a consensus rating of "Moderate Buy" and an average price target of $32.13.

Blackstone Secured Lending Fund Stock Performance

The business has a 50 day moving average of $32.85 and a 200-day moving average of $31.38. The company has a market capitalization of $7.66 billion, a P/E ratio of 9.51 and a beta of 0.43.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. grew its stake in Blackstone Secured Lending Fund by 1,466.7% during the third quarter. Blue Trust Inc. now owns 1,175 shares of the company's stock valued at $36,000 after acquiring an additional 1,100 shares in the last quarter. Raymond James & Associates boosted its holdings in Blackstone Secured Lending Fund by 2.2% in the 3rd quarter. Raymond James & Associates now owns 469,412 shares of the company's stock valued at $13,749,000 after purchasing an additional 10,204 shares during the period. Whittier Trust Co. purchased a new position in shares of Blackstone Secured Lending Fund during the 3rd quarter valued at $705,000. Foundations Investment Advisors LLC bought a new position in shares of Blackstone Secured Lending Fund in the third quarter worth $225,000. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of Blackstone Secured Lending Fund in the third quarter worth $3,064,000. 36.49% of the stock is currently 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).