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

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

BXSL has been the subject of a number of other research reports. Wells Fargo & Company cut their price target on Blackstone Secured Lending Fund from $32.00 to $31.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada restated an “outperform” rating and set a $33.00 price target on shares of Blackstone Secured Lending Fund in a research report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. boosted their price target on shares of 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. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently 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 on Friday, hitting $30.86. The company’s stock had a trading volume of 807,808 shares, compared to its average volume of 940,754. Blackstone Secured Lending Fund has a one year low of $27.23 and a one year high of $32.67. The stock has a fifty day moving average of $30.42 and a two-hundred day moving average of $30.66. The firm has a market capitalization of $6.69 billion, a P/E ratio of 8.57 and a beta of 0.42.

Blackstone Secured Lending Fund Announces Dividend

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

Institutional Investors Weigh In On Blackstone Secured Lending Fund

Several institutional investors and hedge funds have recently made changes to their positions in BXSL. Confluence Investment Management LLC grew its position in shares of Blackstone Secured Lending Fund by 0.9% during the second quarter. Confluence Investment Management LLC now owns 189,988 shares of the company’s stock worth $5,817,000 after buying an additional 1,679 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its stake in shares of Blackstone Secured Lending Fund by 16.8% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 82,918 shares of the company’s stock valued at $2,583,000 after buying an additional 11,916 shares in the last quarter. BigSur Wealth Management LLC boosted its position in Blackstone Secured Lending Fund by 10.2% during the first quarter. BigSur Wealth Management LLC now owns 114,958 shares of the company’s stock worth $3,669,000 after purchasing an additional 10,600 shares during the period. Delphi Management Inc. MA lifted its holdings in shares of Blackstone Secured Lending Fund by 8.4% during the first quarter. Delphi Management Inc. MA now owns 56,642 shares of the company’s stock worth $1,764,000 after buying an additional 4,384 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC raised its stake in shares of Blackstone Secured Lending Fund by 20.6% in the first quarter. Jaffetilchin Investment Partners LLC now owns 13,157 shares of the company’s stock valued at $410,000 after purchasing an additional 2,248 shares in the last quarter. 36.49% of the stock is currently owned by hedge funds and other 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).