Blackstone Secured Lending Fund (NYSE:BXSL) Sets New 1-Year High – Here’s Why

Blackstone Secured Lending Fund (NYSE:BXSL) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $32.67 and last traded at $32.62, with a volume of 293202 shares trading hands. The stock had previously closed at $32.12.

Analyst Ratings Changes

Several research firms have recently commented on BXSL. JPMorgan Chase & Co. lifted their price objective on Blackstone Secured Lending Fund from $31.50 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Compass Point lowered their price objective on Blackstone Secured Lending Fund from $33.50 to $32.25 and set a “buy” rating for the company in a research report on Friday, November 15th. Royal Bank of Canada restated an “outperform” rating and issued a $33.00 target price on shares of Blackstone Secured Lending Fund in a report on Wednesday, August 14th. Finally, Wells Fargo & Company lowered their price target on shares of Blackstone Secured Lending Fund from $32.00 to $31.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $31.88.

Blackstone Secured Lending Fund Stock Performance

The firm has a market capitalization of $7.06 billion, a PE ratio of 9.05 and a beta of 0.42. The stock’s 50-day simple moving average is $30.75 and its 200-day simple moving average is $30.64.

Blackstone Secured Lending Fund Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Tuesday, December 31st will be given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 9.45%. The ex-dividend date of this dividend is Tuesday, December 31st. Blackstone Secured Lending Fund’s dividend payout ratio is currently 85.56%.

Institutional Trading of Blackstone Secured Lending Fund

Several large investors have recently bought and sold shares of BXSL. Signaturefd LLC bought a new position in shares of Blackstone Secured Lending Fund in the 3rd quarter worth approximately $29,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Blackstone Secured Lending Fund in the second quarter worth $32,000. Blue Trust Inc. boosted its holdings in shares of Blackstone Secured Lending Fund by 1,466.7% during the 3rd quarter. Blue Trust Inc. now owns 1,175 shares of the company’s stock valued at $36,000 after buying an additional 1,100 shares in the last quarter. Farmers & Merchants Investments Inc. purchased a new stake in shares of Blackstone Secured Lending Fund in the 2nd quarter worth about $37,000. Finally, Quarry LP bought a new position in shares of Blackstone Secured Lending Fund in the 3rd quarter worth about $48,000. 36.49% of the stock is owned by institutional investors.

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).