Blackstone Secured Lending Fund (NYSE:BXSL) Price Target Cut to $32.25 by Analysts at Compass Point

Blackstone Secured Lending Fund (NYSE:BXSL) had its price target reduced by Compass Point from $33.50 to $32.25 in a research report sent to investors on Friday,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts also recently commented on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $33.00 price objective on shares of Blackstone Secured Lending Fund in a research note on Wednesday, August 14th. JPMorgan Chase & Co. raised their target price on Blackstone Secured Lending Fund from $31.50 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Finally, Wells Fargo & Company cut their price target on Blackstone Secured Lending Fund from $32.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $31.88.

Blackstone Secured Lending Fund Trading Down 0.2 %

NYSE BXSL traded down $0.05 during midday trading on Friday, hitting $30.86. The company had a trading volume of 807,808 shares, compared to its average volume of 940,754. Blackstone Secured Lending Fund has a twelve month low of $27.23 and a twelve month high of $32.67. The company has a market capitalization of $6.69 billion, a PE ratio of 8.57 and a beta of 0.42. The firm has a 50-day moving average price of $30.42 and a 200-day moving average price of $30.66.

Blackstone Secured Lending Fund Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.77 per share. The ex-dividend date is Tuesday, December 31st. This represents a $3.08 dividend on an annualized basis and a yield of 9.98%. Blackstone Secured Lending Fund’s dividend payout ratio (DPR) is presently 85.56%.

Institutional Trading of Blackstone Secured Lending Fund

Several hedge funds and other institutional investors have recently made changes to their positions in BXSL. Signaturefd LLC acquired a new position in shares of Blackstone Secured Lending Fund during the third quarter worth $29,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Blackstone Secured Lending Fund in the second quarter worth approximately $32,000. Blue Trust Inc. lifted its stake in shares of Blackstone Secured Lending Fund by 1,466.7% in the third 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. Farmers & Merchants Investments Inc. acquired a new position in Blackstone Secured Lending Fund during the 2nd quarter valued at $37,000. Finally, Quarry LP bought a new stake in Blackstone Secured Lending Fund in the 3rd quarter valued at $48,000. Hedge funds and other institutional investors own 36.49% of the company’s stock.

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).