Blackstone Secured Lending Fund (NYSE:BXSL) Upgraded by Janney Montgomery Scott to “Buy”

Janney Montgomery Scott upgraded shares of Blackstone Secured Lending Fund (NYSE:BXSLGet Rating) from a neutral rating to a buy rating in a research report sent to investors on Friday, Marketbeat reports. The brokerage currently has $27.00 price objective on the stock, up from their previous price objective of $26.00.

Several other research analysts also recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Blackstone Secured Lending Fund from $26.00 to $25.00 and set an overweight rating on the stock in a research report on Monday, October 24th. Compass Point upped their price target on shares of Blackstone Secured Lending Fund to $27.50 in a research report on Monday, August 15th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $28.06.

Blackstone Secured Lending Fund Stock Performance

BXSL opened at $23.90 on Friday. The firm’s 50-day simple moving average is $23.79 and its 200-day simple moving average is $24.15. Blackstone Secured Lending Fund has a twelve month low of $22.00 and a twelve month high of $38.32. The firm has a market cap of $3.95 billion and a price-to-earnings ratio of 9.92.

Blackstone Secured Lending Fund Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Saturday, December 31st will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, December 29th. This is an increase from Blackstone Secured Lending Fund’s previous quarterly dividend of $0.20. This represents a $2.40 dividend on an annualized basis and a yield of 10.04%. Blackstone Secured Lending Fund’s dividend payout ratio is presently 99.59%.

Insider Buying and Selling at Blackstone Secured Lending Fund

In other Blackstone Secured Lending Fund news, CEO Brad Marshall bought 40,000 shares of the business’s stock in a transaction on Thursday, September 15th. The shares were bought at an average cost of $24.98 per share, for a total transaction of $999,200.00. Following the transaction, the chief executive officer now owns 161,284 shares in the company, valued at approximately $4,028,874.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.09% of the company’s stock.

Institutional Trading of Blackstone Secured Lending Fund

A number of hedge funds have recently modified their holdings of the company. Clearstead Advisors LLC raised its position in shares of Blackstone Secured Lending Fund by 106.4% in the 2nd quarter. Clearstead Advisors LLC now owns 1,606 shares of the company’s stock valued at $38,000 after acquiring an additional 828 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Blackstone Secured Lending Fund by 61.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,257 shares of the company’s stock valued at $51,000 after acquiring an additional 859 shares during the period. US Bancorp DE raised its position in shares of Blackstone Secured Lending Fund by 100.2% in the 3rd quarter. US Bancorp DE now owns 1,998 shares of the company’s stock valued at $45,000 after acquiring an additional 1,000 shares during the period. Advisor Group Holdings Inc. raised its position in shares of Blackstone Secured Lending Fund by 107.6% in the 1st quarter. Advisor Group Holdings Inc. now owns 2,171 shares of the company’s stock valued at $61,000 after acquiring an additional 1,125 shares during the period. Finally, CWM LLC acquired a new stake in shares of Blackstone Secured Lending Fund in the 2nd quarter valued at approximately $30,000. 21.96% of the stock is currently owned by institutional investors and hedge funds.

About Blackstone Secured Lending Fund

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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).

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