Blackstone Secured Lending Fund (NYSE:BXSL) Hits New 52-Week High at $31.76

Blackstone Secured Lending Fund (NYSE:BXSL) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $31.76 and last traded at $31.63, with a volume of 616514 shares traded. The stock had previously closed at $31.31.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Blackstone Secured Lending Fund from $30.00 to $31.50 and gave the stock an “overweight” rating in a report on Friday, April 12th. Wells Fargo & Company increased their target price on Blackstone Secured Lending Fund from $28.50 to $30.50 and gave the stock an “overweight” rating in a report on Monday, January 29th. Raymond James reissued a “market perform” rating on shares of Blackstone Secured Lending Fund in a report on Thursday, February 29th. Truist Financial raised their price objective on Blackstone Secured Lending Fund from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Finally, Bank of America raised Blackstone Secured Lending Fund from a “neutral” rating to a “buy” rating in a research note on Monday, March 25th. One research analyst has rated the stock with a hold rating and six 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 an average price target of $30.92.

Blackstone Secured Lending Fund Price Performance

The stock has a market capitalization of $6.09 billion, a P/E ratio of 8.74 and a beta of 0.49. The firm has a 50-day simple moving average of $30.42 and a 200 day simple moving average of $28.83.

Blackstone Secured Lending Fund (NYSE:BXSL) last posted its earnings results on Wednesday, February 28th. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. The firm had revenue of $304.00 million during the quarter, compared to the consensus estimate of $290.58 million. Blackstone Secured Lending Fund had a return on equity of 14.44% and a net margin of 53.50%. Sell-side analysts anticipate that Blackstone Secured Lending Fund will post 3.63 earnings per share for the current fiscal year.

Blackstone Secured Lending Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Sunday, March 31st will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 9.69%. Blackstone Secured Lending Fund’s dividend payout ratio (DPR) is 84.38%.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

A number of hedge funds have recently made changes to their positions in BXSL. National Bank of Canada FI raised its position in shares of Blackstone Secured Lending Fund by 69.1% during the third quarter. National Bank of Canada FI now owns 13,700 shares of the company’s stock worth $361,000 after acquiring an additional 5,600 shares during the last quarter. Proficio Capital Partners LLC increased its holdings in Blackstone Secured Lending Fund by 44.4% in the third quarter. Proficio Capital Partners LLC now owns 270,311 shares of the company’s stock worth $7,396,000 after purchasing an additional 83,159 shares in the last quarter. Walter & Keenan Wealth Management LLC IN ADV increased its holdings in Blackstone Secured Lending Fund by 64.6% in the third quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 25,220 shares of the company’s stock worth $690,000 after purchasing an additional 9,895 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in Blackstone Secured Lending Fund by 4.7% in the third quarter. Commonwealth Equity Services LLC now owns 23,501 shares of the company’s stock worth $643,000 after purchasing an additional 1,053 shares in the last quarter. Finally, Bernzott Capital Advisors bought a new stake in Blackstone Secured Lending Fund in the third quarter worth approximately $4,118,000. 36.49% of the stock is currently owned by institutional investors.

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).