Blackstone Secured Lending Fund (NYSE:BXSL) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Blackstone Secured Lending Fund (NYSE:BXSL) have earned an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $29.33.

BXSL has been the subject of several recent analyst reports. Raymond James upped their price objective on 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. Truist Financial upped their price objective on Blackstone Secured Lending Fund from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, November 10th. JPMorgan Chase & Co. upgraded Blackstone Secured Lending Fund from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $28.00 to $28.50 in a research report on Monday, October 23rd. Citigroup upped their price objective on Blackstone Secured Lending Fund from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 11th. Finally, Royal Bank of Canada increased their target price on Blackstone Secured Lending Fund from $28.00 to $31.00 and gave the company an “outperform” rating in a research report on Friday, August 11th.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

A number of hedge funds have recently made changes to their positions in BXSL. Advisor Group Holdings Inc. raised its position in shares of Blackstone Secured Lending Fund by 107.6% during the first quarter. Advisor Group Holdings Inc. now owns 2,171 shares of the company’s stock worth $61,000 after acquiring an additional 1,125 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Blackstone Secured Lending Fund by 115.1% during the first quarter. JPMorgan Chase & Co. now owns 127,137 shares of the company’s stock worth $3,545,000 after purchasing an additional 68,036 shares during the period. BlackRock Inc. acquired a new stake in Blackstone Secured Lending Fund during the first quarter worth approximately $168,000. Cibc World Market Inc. acquired a new stake in Blackstone Secured Lending Fund during the first quarter worth approximately $3,543,000. Finally, Mariner LLC acquired a new stake in Blackstone Secured Lending Fund during the first quarter worth approximately $587,000. 36.96% of the stock is currently owned by institutional investors.

Blackstone Secured Lending Fund Stock Performance

BXSL opened at $28.33 on Friday. Blackstone Secured Lending Fund has a 52-week low of $22.08 and a 52-week high of $29.11. The firm has a market cap of $4.92 billion, a P/E ratio of 8.03 and a beta of 0.51. The business’s fifty day moving average is $27.46 and its 200-day moving average is $27.06.

Blackstone Secured Lending Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Sunday, December 31st will be given a dividend of $0.77 per share. The ex-dividend date is Thursday, December 28th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 10.87%. Blackstone Secured Lending Fund’s dividend payout ratio (DPR) is 87.25%.

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).