Wells Fargo & Company Issues Positive Forecast for Blackstone Secured Lending Fund (NYSE:BXSL) Stock Price

Blackstone Secured Lending Fund (NYSE:BXSL) had its price target raised by Wells Fargo & Company from $29.00 to $31.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Separately, Compass Point dropped their target price on shares of Blackstone Secured Lending Fund from $33.50 to $32.25 and set a “buy” rating on the stock in a report on Friday, November 15th. Two 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, the company presently has an average rating of “Moderate Buy” and an average target price of $31.88.

Blackstone Secured Lending Fund Stock Performance

BXSL opened at $32.81 on Wednesday. The stock’s 50 day moving average price is $32.24 and its 200-day moving average price is $30.98. Blackstone Secured Lending Fund has a one year low of $27.76 and a one year high of $33.48. The stock has a market cap of $7.34 billion, a price-to-earnings ratio of 9.11 and a beta of 0.42.

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 paid a dividend of $0.77 per share. The ex-dividend date was Tuesday, December 31st. This represents a $3.08 dividend on an annualized basis and a dividend yield of 9.39%. Blackstone Secured Lending Fund’s payout ratio is 85.56%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BXSL. Signaturefd LLC purchased a new position in Blackstone Secured Lending Fund in the 3rd quarter worth $29,000. MassMutual Private Wealth & Trust FSB acquired a new stake in shares of Blackstone Secured Lending Fund during the fourth quarter worth about $31,000. CKW Financial Group acquired a new position in Blackstone Secured Lending Fund in the 4th quarter worth approximately $32,000. Blue Trust Inc. raised its position in 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 worth $36,000 after buying an additional 1,100 shares during the last quarter. Finally, Quarry LP acquired a new stake in Blackstone Secured Lending Fund during the 3rd quarter valued at approximately $48,000. Hedge funds and other institutional investors own 36.49% of the company’s stock.

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).