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

Shares of Blackstone Secured Lending Fund (NYSE:BXSL) have earned a consensus rating of “Moderate Buy” from the eight analysts that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $31.54.

Several brokerages have weighed in on BXSL. 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 note on Friday, November 15th. Wells Fargo & Company downgraded 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.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Several institutional investors and hedge funds have recently modified their holdings of BXSL. Signaturefd LLC purchased a new stake in Blackstone Secured Lending Fund in the 3rd quarter worth $29,000. Blue Trust Inc. grew its position in shares of Blackstone Secured Lending Fund by 1,466.7% in the third 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 during the period. Farmers & Merchants Investments Inc. purchased a new stake in shares of Blackstone Secured Lending Fund during the second quarter worth about $37,000. Quarry LP acquired a new position in shares of Blackstone Secured Lending Fund during the 3rd quarter worth about $48,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in Blackstone Secured Lending Fund in the 3rd quarter valued at about $72,000. Hedge funds and other institutional investors own 36.49% of the company’s stock.

Blackstone Secured Lending Fund Stock Down 2.3 %

Shares of BXSL opened at $32.31 on Thursday. Blackstone Secured Lending Fund has a twelve month low of $27.54 and a twelve month high of $33.48. The company has a 50 day moving average of $31.75 and a two-hundred day moving average of $30.82. The company has a market cap of $7.00 billion, a price-to-earnings ratio of 8.98 and a beta of 0.43.

Blackstone Secured Lending Fund Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 9.53%. The ex-dividend date of this dividend is Tuesday, December 31st. Blackstone Secured Lending Fund’s payout ratio is currently 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).