Blackstone Secured Lending Fund (NYSE:BXSL) Sets New 12-Month High – Should You Buy?

Blackstone Secured Lending Fund (NYSE:BXSL) hit a new 52-week high on Friday . The stock traded as high as $32.67 and last traded at $32.62, with a volume of 293202 shares trading hands. The stock had previously closed at $32.12.

Wall Street Analysts Forecast Growth

BXSL has been the topic of a number of recent research reports. Wells Fargo & Company dropped their price objective on Blackstone Secured Lending Fund from $32.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Royal Bank of Canada restated an “outperform” rating and issued a $33.00 price objective on shares of Blackstone Secured Lending Fund in a research report on Wednesday, August 14th. JPMorgan Chase & Co. upped their target price on shares of Blackstone Secured Lending Fund from $31.50 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Finally, Compass Point reduced their price target on shares of Blackstone Secured Lending Fund from $33.50 to $32.25 and set a “buy” rating for the company in a research report on Friday, November 15th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $31.88.

Blackstone Secured Lending Fund Price Performance

The firm has a market cap of $7.06 billion, a PE ratio of 8.92 and a beta of 0.42. The company has a 50 day simple moving average of $30.71 and a 200-day simple moving average of $30.63.

Blackstone Secured Lending Fund Announces Dividend

The firm 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 annualized dividend and a yield of 9.45%. Blackstone Secured Lending Fund’s payout ratio is 85.56%.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Ensign Peak Advisors Inc lifted its position in Blackstone Secured Lending Fund by 51.7% in the second quarter. Ensign Peak Advisors Inc now owns 5,035,082 shares of the company’s stock valued at $154,174,000 after purchasing an additional 1,715,357 shares during the last quarter. Van ECK Associates Corp boosted its position in Blackstone Secured Lending Fund by 106.5% during the 2nd quarter. Van ECK Associates Corp now owns 3,180,714 shares of the company’s stock valued at $97,393,000 after buying an additional 1,640,211 shares during the period. Sound Income Strategies LLC grew its holdings in Blackstone Secured Lending Fund by 140,837.8% in the 2nd quarter. Sound Income Strategies LLC now owns 759,655 shares of the company’s stock worth $23,261,000 after acquiring an additional 759,116 shares during the last quarter. Baillie Gifford & Co. purchased a new position in shares of Blackstone Secured Lending Fund in the second quarter valued at about $12,199,000. Finally, Magnolia Capital Advisors LLC bought a new position in shares of Blackstone Secured Lending Fund during the second quarter valued at about $8,042,000. 36.49% of the stock is currently owned by institutional investors.

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).