Blackstone Secured Lending Fund (NYSE:BXSL) Reaches New 52-Week High – Here’s Why

Blackstone Secured Lending Fund (NYSE:BXSL)’s stock price hit a new 52-week high on Friday . The company traded as high as $33.49 and last traded at $33.35, with a volume of 389123 shares. The stock had previously closed at $33.08.

Wall Street Analyst Weigh In

BXSL has been the topic of several recent research reports. Wells Fargo & Company lifted their price target on shares of Blackstone Secured Lending Fund from $29.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Compass Point cut their target price 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 research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Blackstone Secured Lending Fund presently has an average rating of “Moderate Buy” and a consensus target price of $31.88.

Blackstone Secured Lending Fund Stock Performance

The stock has a market cap of $7.50 billion, a price-to-earnings ratio of 9.30 and a beta of 0.42. The business’s 50 day moving average is $32.32 and its 200 day moving average is $31.02.

Blackstone Secured Lending Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.77 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.08 dividend on an annualized basis and a dividend yield of 9.20%. Blackstone Secured Lending Fund’s dividend payout ratio is 85.56%.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

A number of institutional investors have recently bought and sold shares of BXSL. Destiny Wealth Partners LLC grew its holdings in shares of Blackstone Secured Lending Fund by 6.5% during the 3rd quarter. Destiny Wealth Partners LLC now owns 367,988 shares of the company’s stock valued at $10,778,000 after acquiring an additional 22,478 shares in the last quarter. LaFleur & Godfrey LLC purchased a new position in Blackstone Secured Lending Fund in the third quarter valued at about $2,337,000. Griffin Asset Management Inc. increased its position in Blackstone Secured Lending Fund by 25.5% in the 3rd quarter. Griffin Asset Management Inc. now owns 24,348 shares of the company’s stock worth $713,000 after purchasing an additional 4,952 shares during the last quarter. Acorn Creek Capital LLC raised its stake in shares of Blackstone Secured Lending Fund by 3.1% during the 3rd quarter. Acorn Creek Capital LLC now owns 18,237 shares of the company’s stock worth $534,000 after purchasing an additional 545 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. lifted its holdings in shares of Blackstone Secured Lending Fund by 13.1% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 26,265 shares of the company’s stock valued at $769,000 after buying an additional 3,039 shares during the last quarter. 36.49% of the stock is currently owned by institutional investors and hedge funds.

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).