Blackstone Secured Lending Fund (NYSE:BXSL) Hits New 52-Week High After Analyst Upgrade

Blackstone Secured Lending Fund (NYSE:BXSLGet Free Report)’s share price hit a new 52-week high during trading on Monday after Wells Fargo & Company raised their price target on the stock from $28.50 to $30.50. Wells Fargo & Company currently has an overweight rating on the stock. Blackstone Secured Lending Fund traded as high as $29.39 and last traded at $29.39, with a volume of 450 shares trading hands. The stock had previously closed at $28.62.

BXSL has been the topic of a number of other research reports. JPMorgan Chase & Co. upgraded shares of Blackstone Secured Lending Fund from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $28.00 to $28.50 in a report on Monday, October 23rd. Truist Financial lifted their price target on shares of Blackstone Secured Lending Fund from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, November 10th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $29.50.

Check Out Our Latest Report on BXSL

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Several institutional investors and hedge funds have recently modified their holdings of BXSL. Moneta Group Investment Advisors LLC bought a new stake in shares of Blackstone Secured Lending Fund during the fourth quarter valued at approximately $222,243,000. Marshall Wace LLP purchased a new stake in Blackstone Secured Lending Fund during the 4th quarter valued at $17,414,000. BlackRock Inc. increased its holdings in shares of Blackstone Secured Lending Fund by 9,764.9% in the 1st quarter. BlackRock Inc. now owns 769,262 shares of the company’s stock worth $19,178,000 after purchasing an additional 761,464 shares in the last quarter. Morgan Stanley increased its holdings in shares of Blackstone Secured Lending Fund by 18.7% in the 3rd quarter. Morgan Stanley now owns 3,494,092 shares of the company’s stock worth $95,598,000 after purchasing an additional 550,914 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of 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 institutional investors.

Blackstone Secured Lending Fund Stock Up 0.6 %

The stock has a market capitalization of $5.02 billion, a P/E ratio of 8.19 and a beta of 0.47. The business has a fifty day moving average price of $28.19 and a 200-day moving average price of $27.80.

Blackstone Secured Lending Fund (NYSE:BXSLGet Free Report) last issued its earnings results on Wednesday, November 8th. The company reported $0.95 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.04). The business had revenue of $283.96 million during the quarter, compared to analysts’ expectations of $282.93 million. Blackstone Secured Lending Fund had a return on equity of 14.46% and a net margin of 52.89%. On average, equities analysts expect that Blackstone Secured Lending Fund will post 3.86 earnings per share for the current fiscal year.

Blackstone Secured Lending Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Sunday, December 31st were given a dividend of $0.77 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $3.08 dividend on an annualized basis and a yield of 10.65%. Blackstone Secured Lending Fund’s dividend payout ratio (DPR) is 87.25%.

Blackstone Secured Lending Fund Company Profile

(Get Free Report)

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).

Featured Stories

Receive News & Ratings for Blackstone Secured Lending Fund Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackstone Secured Lending Fund and related companies with MarketBeat.com's FREE daily email newsletter.