Blackstone Secured Lending Fund (NYSE:BXSL) Sets New 12-Month High at $31.76

Blackstone Secured Lending Fund (NYSE:BXSL)’s share price hit a new 52-week high on Monday . The stock traded as high as $31.76 and last traded at $31.63, with a volume of 616514 shares changing hands. The stock had previously closed at $31.31.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BXSL. JPMorgan Chase & Co. lifted their target price on Blackstone Secured Lending Fund from $30.00 to $31.50 and gave the company an “overweight” rating in a research note on Friday, April 12th. Truist Financial lifted their target price 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 reaffirmed a “market perform” rating on shares of Blackstone Secured Lending Fund in a research note 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 report on Monday, January 29th. Finally, Citigroup lifted their target price on Blackstone Secured Lending Fund from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Blackstone Secured Lending Fund currently has a consensus rating of “Moderate Buy” and an average price target of $30.92.

Blackstone Secured Lending Fund Stock Down 0.3 %

The business has a 50-day simple moving average of $30.42 and a two-hundred day simple moving average of $28.83. The company has a market cap of $6.09 billion, a price-to-earnings ratio of 8.74 and a beta of 0.49.

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

Blackstone Secured Lending Fund Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Sunday, March 31st will be issued a $0.77 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $3.08 annualized dividend and a yield of 9.69%. Blackstone Secured Lending Fund’s dividend payout ratio (DPR) is 84.38%.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

Large investors have recently modified their holdings of the stock. Royal Harbor Partners LLC bought a new stake in Blackstone Secured Lending Fund during the 3rd quarter worth approximately $7,288,000. Wells Fargo & Company MN grew its position in Blackstone Secured Lending Fund by 85.6% during the 4th quarter. Wells Fargo & Company MN now owns 549,662 shares of the company’s stock worth $15,193,000 after acquiring an additional 253,504 shares during the last quarter. Pathstone Family Office LLC bought a new stake in Blackstone Secured Lending Fund during the 3rd quarter worth approximately $5,512,000. International Assets Investment Management LLC bought a new stake in Blackstone Secured Lending Fund during the 4th quarter worth approximately $54,740,000. Finally, Confluence Investment Management LLC bought a new stake in Blackstone Secured Lending Fund during the 1st quarter worth approximately $5,866,000. 36.49% of the stock is currently owned by institutional investors.

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).