Compass Point Cuts Blackstone Secured Lending Fund (NYSE:BXSL) Price Target to $32.25

Blackstone Secured Lending Fund (NYSE:BXSL) had its price target reduced by Compass Point from $33.50 to $32.25 in a report published on Friday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts also recently issued reports on BXSL. Royal Bank of Canada reiterated an “outperform” rating and issued a $33.00 price target on shares of Blackstone Secured Lending Fund in a report on Wednesday, August 14th. Wells Fargo & Company lowered their price target on Blackstone Secured Lending Fund from $32.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. boosted their target price on Blackstone Secured Lending Fund from $31.50 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Blackstone Secured Lending Fund currently has an average rating of “Moderate Buy” and a consensus target price of $31.88.

Blackstone Secured Lending Fund Stock Performance

Shares of NYSE:BXSL opened at $30.86 on Friday. Blackstone Secured Lending Fund has a one year low of $27.23 and a one year high of $32.67. The stock has a market capitalization of $6.69 billion, a price-to-earnings ratio of 8.57 and a beta of 0.42. The company has a 50-day simple moving average of $30.44 and a 200-day simple moving average of $30.64.

Blackstone Secured Lending Fund Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Tuesday, December 31st will be paid a $0.77 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.08 dividend on an annualized basis and a yield of 9.98%. Blackstone Secured Lending Fund’s payout ratio is currently 85.56%.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Several hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC grew its stake in shares of Blackstone Secured Lending Fund by 71.0% in the first quarter. SG Americas Securities LLC now owns 28,712 shares of the company’s stock worth $894,000 after purchasing an additional 11,924 shares in the last quarter. US Bancorp DE increased its stake in Blackstone Secured Lending Fund by 43.1% during the 1st quarter. US Bancorp DE now owns 19,935 shares of the company’s stock valued at $621,000 after buying an additional 6,002 shares during the period. Avantax Advisory Services Inc. raised its position in shares of Blackstone Secured Lending Fund by 30.7% during the 1st quarter. Avantax Advisory Services Inc. now owns 21,797 shares of the company’s stock worth $679,000 after buying an additional 5,122 shares in the last quarter. Blair William & Co. IL acquired a new stake in shares of Blackstone Secured Lending Fund in the 1st quarter worth approximately $326,000. Finally, Advisors Asset Management Inc. boosted its holdings in shares of Blackstone Secured Lending Fund by 7.3% in the first quarter. Advisors Asset Management Inc. now owns 83,596 shares of the company’s stock valued at $2,604,000 after acquiring an additional 5,681 shares in the last quarter. Institutional investors and hedge funds own 36.49% of the company’s stock.

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).