Blackstone Secured Lending Fund (NYSE:BXSL) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Blackstone Secured Lending Fund (NYSE:BXSL) had its target price increased by research analysts at Wells Fargo & Company from $29.00 to $31.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price points to a potential downside of 6.67% from the company’s current price.

Separately, Compass Point lowered their price objective on shares of 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. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $31.88.

Blackstone Secured Lending Fund Trading Up 0.7 %

Shares of BXSL traded up $0.23 during midday trading on Wednesday, reaching $33.22. 226,209 shares of the company were exchanged, compared to its average volume of 1,012,359. Blackstone Secured Lending Fund has a 1-year low of $27.76 and a 1-year high of $33.48. The stock has a 50-day moving average price of $32.22 and a 200-day moving average price of $30.96. The company has a market cap of $7.43 billion, a price-to-earnings ratio of 9.23 and a beta of 0.42.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BXSL. MassMutual Private Wealth & Trust FSB bought a new position in shares of Blackstone Secured Lending Fund during the fourth quarter worth about $31,000. Signaturefd LLC bought a new position in shares of Blackstone Secured Lending Fund in the third quarter worth $29,000. CKW Financial Group acquired a new position in shares of Blackstone Secured Lending Fund during the fourth quarter valued at $32,000. Blue Trust Inc. raised its stake in shares of Blackstone Secured Lending Fund by 1,466.7% during 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 in the last quarter. Finally, Quarry LP acquired a new stake in Blackstone Secured Lending Fund in the third quarter worth about $48,000. 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).