Blackstone Secured Lending Fund (NYSE:BXSL) Receives Average Recommendation of “Moderate Buy” from Brokerages

Blackstone Secured Lending Fund (NYSE:BXSL) has been assigned an average rating of “Moderate Buy” from the eight research firms that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $31.54.

A number of analysts have recently commented on BXSL shares. Wells Fargo & Company cut Blackstone Secured Lending Fund from an “overweight” rating to an “equal weight” rating and set a $29.00 price target on the stock. in a research report on Monday, December 2nd. Compass Point dropped their target price on 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.

Institutional Trading of Blackstone Secured Lending Fund

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp boosted its position in shares of Blackstone Secured Lending Fund by 9.4% during the second quarter. Bank of New York Mellon Corp now owns 17,144 shares of the company’s stock valued at $525,000 after buying an additional 1,474 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Blackstone Secured Lending Fund by 8.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 179,809 shares of the company’s stock valued at $5,506,000 after acquiring an additional 13,415 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Blackstone Secured Lending Fund by 45.2% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 75,631 shares of the company’s stock worth $2,316,000 after acquiring an additional 23,546 shares during the period. Pine Valley Investments Ltd Liability Co raised its holdings in shares of Blackstone Secured Lending Fund by 5.0% during the second quarter. Pine Valley Investments Ltd Liability Co now owns 154,849 shares of the company’s stock valued at $4,743,000 after purchasing an additional 7,309 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC lifted its position in Blackstone Secured Lending Fund by 216.7% during the second quarter. Jaffetilchin Investment Partners LLC now owns 41,670 shares of the company’s stock valued at $1,276,000 after purchasing an additional 28,513 shares during the period. Institutional investors own 36.49% of the company’s stock.

Blackstone Secured Lending Fund Price Performance

NYSE:BXSL opened at $33.07 on Thursday. The firm has a market capitalization of $7.17 billion, a P/E ratio of 9.19 and a beta of 0.43. Blackstone Secured Lending Fund has a one year low of $27.54 and a one year high of $33.48. The company’s 50-day simple moving average is $31.71 and its 200 day simple moving average is $30.81.

Blackstone Secured Lending Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors 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 annualized dividend and a yield of 9.31%. Blackstone Secured Lending Fund’s dividend payout ratio (DPR) is presently 85.56%.

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).