Blackstone Secured Lending Fund (NYSE:BXSL) Sets New 12-Month High at $32.47

Blackstone Secured Lending Fund (NYSE:BXSL) shares reached a new 52-week high during trading on Monday . The company traded as high as $32.47 and last traded at $32.17, with a volume of 125656 shares. The stock had previously closed at $32.09.

Analyst Ratings Changes

A number of research analysts have commented on the company. 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. Citigroup increased their price target on Blackstone Secured Lending Fund from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Truist Financial upped 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. Raymond James reissued a “market perform” rating on shares of Blackstone Secured Lending Fund in a research report on Thursday, February 29th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Blackstone Secured Lending Fund from $30.00 to $31.50 and gave the company an “overweight” rating in a research report on Friday, April 12th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $30.92.

Blackstone Secured Lending Fund Stock Performance

The company has a market capitalization of $6.16 billion, a P/E ratio of 8.79 and a beta of 0.49. The company has a 50-day simple moving average of $30.58 and a 200 day simple moving average of $28.94.

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

Blackstone Secured Lending Fund Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Sunday, March 31st were given a dividend of $0.77 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.08 annualized dividend and a yield of 9.59%. Blackstone Secured Lending Fund’s dividend payout ratio (DPR) is presently 84.38%.

Institutional Trading of Blackstone Secured Lending Fund

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mesirow Financial Investment Management Inc. acquired a new position in shares of Blackstone Secured Lending Fund during the first quarter worth $374,000. Inlet Private Wealth LLC increased its position in shares of Blackstone Secured Lending Fund by 3.6% in the 1st quarter. Inlet Private Wealth LLC now owns 54,074 shares of the company’s stock worth $1,684,000 after purchasing an additional 1,894 shares during the last quarter. GFS Advisors LLC boosted its stake in Blackstone Secured Lending Fund by 63.8% during the 1st quarter. GFS Advisors LLC now owns 43,900 shares of the company’s stock valued at $1,367,000 after purchasing an additional 17,100 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Blackstone Secured Lending Fund by 51.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 52,085 shares of the company’s stock worth $1,622,000 after purchasing an additional 17,785 shares in the last quarter. Finally, Leavell Investment Management Inc. grew its position in Blackstone Secured Lending Fund by 5.8% during the first quarter. Leavell Investment Management Inc. now owns 58,093 shares of the company’s stock valued at $1,854,000 after purchasing an additional 3,175 shares in the last quarter. 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).