Blackstone Secured Lending Fund (NYSE:BXSL) Price Target Raised to $31.00 at Wells Fargo & Company

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) had its price target boosted by equities researchers at Wells Fargo & Company from $29.00 to $31.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective would indicate a potential downside of 6.25% from the stock's previous close.

Separately, Compass Point reduced their price objective on 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. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $31.88.

Blackstone Secured Lending Fund Stock Performance

BXSL traded up $0.21 during trading on Wednesday, reaching $33.07. The company had a trading volume of 1,051,391 shares, compared to its average volume of 1,057,642. The company has a market cap of $7.40 billion, a price-to-earnings ratio of 9.18 and a beta of 0.42. Blackstone Secured Lending Fund has a 12-month low of $27.76 and a 12-month high of $33.48. The firm's 50-day simple moving average is $32.28 and its 200 day simple moving average is $30.99.

Institutional Trading of Blackstone Secured Lending Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BXSL. Destiny Wealth Partners LLC boosted its position in shares of Blackstone Secured Lending Fund by 6.5% during the 3rd quarter. Destiny Wealth Partners LLC now owns 367,988 shares of the company's stock valued at $10,778,000 after acquiring an additional 22,478 shares during the last quarter. LaFleur & Godfrey LLC purchased a new stake in shares of Blackstone Secured Lending Fund in the 3rd quarter worth about $2,337,000. Griffin Asset Management Inc. boosted its position in shares of Blackstone Secured Lending Fund by 25.5% during the third quarter. Griffin Asset Management Inc. now owns 24,348 shares of the company's stock valued at $713,000 after purchasing an additional 4,952 shares in the last quarter. Acorn Creek Capital LLC boosted its stake in Blackstone Secured Lending Fund by 3.1% during the third quarter. Acorn Creek Capital LLC now owns 18,237 shares of the company's stock worth $534,000 after acquiring an additional 545 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. raised its stake in Blackstone Secured Lending Fund by 13.1% during the third quarter. Redhawk Wealth Advisors Inc. now owns 26,265 shares of the company's stock valued at $769,000 after buying an additional 3,039 shares during the last quarter. 36.49% of the stock is 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).