Blackstone Secured Lending Fund (NYSE:BXSL) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Shares of Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) have received a consensus rating of "Moderate Buy" from the eight analysts that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $31.88.

Several research firms have recently weighed in on BXSL. Compass Point cut their price target on Blackstone Secured Lending Fund from $33.50 to $32.25 and set a "buy" rating for the company in a research note on Friday, November 15th. Wells Fargo & Company cut their target price on shares of Blackstone Secured Lending Fund from $32.00 to $31.00 and set an "overweight" rating for the company in a research report on Thursday, August 8th. Royal Bank of Canada reiterated an "outperform" rating and issued a $33.00 target price on shares of Blackstone Secured Lending Fund in a research note on Wednesday, August 14th. Finally, JPMorgan Chase & Co. upped their price target on shares of 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.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Several hedge funds have recently bought and sold shares of the company. Shikiar Asset Management Inc. boosted its holdings in Blackstone Secured Lending Fund by 2.8% in the 2nd quarter. Shikiar Asset Management Inc. now owns 495,050 shares of the company's stock valued at $15,158,000 after purchasing an additional 13,685 shares during the period. Comerica Bank raised its position in shares of Blackstone Secured Lending Fund by 1.1% in the first quarter. Comerica Bank now owns 33,934 shares of the company's stock worth $1,057,000 after buying an additional 361 shares in the last quarter. Cooper Financial Group boosted its stake in Blackstone Secured Lending Fund by 60.9% during the second quarter. Cooper Financial Group now owns 25,302 shares of the company's stock valued at $775,000 after buying an additional 9,576 shares during the period. Walter & Keenan Wealth Management LLC IN ADV increased its stake in Blackstone Secured Lending Fund by 27.1% in the 2nd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 56,097 shares of the company's stock worth $1,718,000 after acquiring an additional 11,977 shares during the last quarter. Finally, Diversify Advisory Services LLC raised its holdings in shares of Blackstone Secured Lending Fund by 1.9% in the 2nd quarter. Diversify Advisory Services LLC now owns 88,885 shares of the company's stock valued at $2,732,000 after acquiring an additional 1,664 shares in the last quarter. Hedge funds and other institutional investors own 36.49% of the company's stock.

Blackstone Secured Lending Fund Stock Performance

NYSE BXSL traded up $0.46 on Friday, hitting $32.58. 696,777 shares of the stock traded hands, compared to its average volume of 908,156. The business's fifty day moving average is $30.75 and its two-hundred day moving average is $30.64. Blackstone Secured Lending Fund has a 12 month low of $27.23 and a 12 month high of $32.67. The firm has a market capitalization of $7.06 billion, a price-to-earnings ratio of 9.05 and a beta of 0.42.

Blackstone Secured Lending Fund Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 9.45%. Blackstone Secured Lending Fund's dividend payout ratio (DPR) is currently 85.56%.

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).