Blackstone Secured Lending Fund (NYSE:BXSL) Reaches New 1-Year High at $32.65

Shares of Blackstone Secured Lending Fund (NYSE:BXSL) reached a new 52-week high on Monday . The company traded as high as $32.65 and last traded at $32.65, with a volume of 304316 shares. The stock had previously closed at $32.23.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BXSL. Citigroup upped their target price on shares of Blackstone Secured Lending Fund from $30.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Wells Fargo & Company lifted their target price on Blackstone Secured Lending Fund from $28.50 to $30.50 and gave the stock an “overweight” rating in a research report on Monday, January 29th. Bank of America raised Blackstone Secured Lending Fund from a “neutral” rating to a “buy” rating in a research report on Monday, March 25th. Truist Financial raised their price target on Blackstone Secured Lending Fund from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Finally, Raymond James reiterated a “market perform” rating on shares of Blackstone Secured Lending Fund in a research note on Thursday, February 29th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Blackstone Secured Lending Fund presently has an average rating of “Moderate Buy” and a consensus target price of $30.92.

Blackstone Secured Lending Fund Trading Up 0.8 %

The company has a 50 day simple moving average of $30.84 and a 200 day simple moving average of $29.12. The stock has a market capitalization of $6.23 billion, a PE ratio of 8.90 and a beta of 0.47.

Blackstone Secured Lending Fund (NYSE:BXSL) last released its quarterly earnings results on Wednesday, February 28th. The company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.92 by $0.04. Blackstone Secured Lending Fund had a return on equity of 14.44% and a net margin of 53.50%. The business had revenue of $304.00 million during the quarter, compared to analysts’ expectations of $290.58 million. On average, equities research analysts predict that Blackstone Secured Lending Fund will post 3.63 EPS for the current year.

Blackstone Secured Lending Fund Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Sunday, March 31st were paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 9.48%. The ex-dividend date of this dividend was Wednesday, March 27th. Blackstone Secured Lending Fund’s dividend payout ratio (DPR) is presently 84.38%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BXSL. Royal Harbor Partners LLC acquired a new stake in Blackstone Secured Lending Fund in the third quarter valued at $7,288,000. Wells Fargo & Company MN lifted its stake in shares of Blackstone Secured Lending Fund by 85.6% in the fourth quarter. Wells Fargo & Company MN now owns 549,662 shares of the company’s stock valued at $15,193,000 after purchasing an additional 253,504 shares during the period. Pathstone Family Office LLC purchased a new stake in Blackstone Secured Lending Fund during the third quarter worth about $5,512,000. Van ECK Associates Corp boosted its holdings in Blackstone Secured Lending Fund by 14.9% during the first quarter. Van ECK Associates Corp now owns 1,540,503 shares of the company’s stock worth $47,987,000 after buying an additional 200,109 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Blackstone Secured Lending Fund during the fourth quarter worth about $54,740,000. 36.49% of the stock is currently owned by institutional investors and hedge funds.

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).