Blackstone Secured Lending Fund (NYSE:BXSL) Hits New 1-Year High – Here’s What Happened

Blackstone Secured Lending Fund (NYSE:BXSL)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $32.75 and last traded at $32.74, with a volume of 121816 shares trading hands. The stock had previously closed at $32.49.

Analysts Set New Price Targets

A number of research firms have recently commented on BXSL. Wells Fargo & Company lowered Blackstone Secured Lending Fund from an “overweight” rating to an “equal weight” rating and set a $29.00 price objective on the stock. in a research note on Monday, December 2nd. Compass Point dropped their price target on Blackstone Secured Lending Fund from $33.50 to $32.25 and set a “buy” rating on the stock in a research report on Friday, November 15th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $31.54.

Blackstone Secured Lending Fund Trading Up 1.0 %

The company has a fifty day moving average price of $31.46 and a two-hundred day moving average price of $30.75. The company has a market cap of $7.11 billion, a price-to-earnings ratio of 9.11 and a beta of 0.43.

Blackstone Secured Lending Fund Announces Dividend

The firm also recently declared 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. This represents a $3.08 annualized dividend and a yield of 9.39%. The ex-dividend date is Tuesday, December 31st. Blackstone Secured Lending Fund’s dividend payout ratio (DPR) is presently 85.56%.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC acquired a new stake in shares of Blackstone Secured Lending Fund during the third quarter worth approximately $29,000. Blue Trust Inc. increased its holdings in Blackstone Secured Lending Fund by 1,466.7% during the 3rd quarter. Blue Trust Inc. now owns 1,175 shares of the company’s stock valued at $36,000 after purchasing an additional 1,100 shares in the last quarter. Farmers & Merchants Investments Inc. bought a new position in Blackstone Secured Lending Fund in the 2nd quarter valued at $37,000. Quarry LP acquired a new position in Blackstone Secured Lending Fund in the third quarter worth $48,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of Blackstone Secured Lending Fund during the third quarter worth $72,000. 36.49% of the stock is owned by 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).