Blackstone Secured Lending Fund (NYSE:BXSL – Free Report) had its target price hoisted by Truist Financial from $29.00 to $30.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a buy rating on the stock.
Other analysts also recently issued reports about the stock. Raymond James upped their target price on shares of Blackstone Secured Lending Fund from $28.00 to $29.50 and gave the stock an outperform rating in a research report on Monday, August 14th. Royal Bank of Canada upped their price objective on shares of Blackstone Secured Lending Fund from $28.00 to $31.00 and gave the stock an outperform rating in a report on Friday, August 11th. Citigroup upped their price target on Blackstone Secured Lending Fund from $28.00 to $30.00 and gave the stock a buy rating in a research note on Friday, August 11th. Finally, JPMorgan Chase & Co. upgraded Blackstone Secured Lending Fund from a neutral rating to an overweight rating and upped their price target for the stock from $28.00 to $28.50 in a research note on Monday, October 23rd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $29.33.
Blackstone Secured Lending Fund Stock Up 0.7 %
Blackstone Secured Lending Fund Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Sunday, December 31st will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $3.08 annualized dividend and a yield of 11.05%. Blackstone Secured Lending Fund’s dividend payout ratio is 87.25%.
Institutional Trading of Blackstone Secured Lending Fund
Several institutional investors have recently added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC purchased a new stake in shares of Blackstone Secured Lending Fund during the fourth quarter valued at $222,243,000. State of Wisconsin Board of Commissioners of Public Lands purchased a new stake in shares of Blackstone Secured Lending Fund during the 1st quarter valued at about $32,315,000. Marshall Wace LLP purchased a new stake in shares of Blackstone Secured Lending Fund during the 4th quarter valued at about $17,414,000. BlackRock Inc. boosted its holdings in Blackstone Secured Lending Fund by 9,764.9% in the first quarter. BlackRock Inc. now owns 769,262 shares of the company’s stock worth $19,178,000 after purchasing an additional 761,464 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in Blackstone Secured Lending Fund by 9,106.7% in the first quarter. Bank of America Corp DE now owns 436,307 shares of the company’s stock worth $12,165,000 after purchasing an additional 431,568 shares during the last quarter. 36.96% of the stock is currently 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).
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