Compass Point Cuts Blackstone Secured Lending Fund (NYSE:BXSL) Price Target to $32.25

Blackstone Secured Lending Fund (NYSE:BXSL) had its target price lowered by Compass Point from $33.50 to $32.25 in a research note published on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

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

Blackstone Secured Lending Fund Stock Up 0.7 %

BXSL stock opened at $31.07 on Friday. The firm has a market cap of $6.73 billion, a PE ratio of 8.63 and a beta of 0.42. The business has a 50 day moving average of $30.44 and a 200-day moving average of $30.63. Blackstone Secured Lending Fund has a 12-month low of $27.23 and a 12-month high of $32.67.

Blackstone Secured Lending Fund Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Tuesday, December 31st will be given 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 9.91%. Blackstone Secured Lending Fund’s payout ratio is 85.56%.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

A number of large investors have recently added to or reduced their stakes in BXSL. Signaturefd LLC bought a new position in shares of Blackstone Secured Lending Fund during the third quarter valued at about $29,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Blackstone Secured Lending Fund during the second quarter valued at about $32,000. Blue Trust Inc. grew 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 buying an additional 1,100 shares during the last quarter. Farmers & Merchants Investments Inc. bought a new position in shares of Blackstone Secured Lending Fund during the second quarter valued at about $37,000. Finally, Quarry LP bought a new position in shares of Blackstone Secured Lending Fund during the third quarter valued at about $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).