Blackstone Secured Lending Fund (NYSE:BXSL) Hits New 12-Month High at $31.23

Blackstone Secured Lending Fund (NYSE:BXSLGet Free Report)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $31.23 and last traded at $31.23, with a volume of 10614 shares trading hands. The stock had previously closed at $30.93.

Analysts Set New Price Targets

Several equities research analysts have issued reports on BXSL shares. Wells Fargo & Company lifted their target price on shares of Blackstone Secured Lending Fund from $28.50 to $30.50 and gave the company an “overweight” rating in a research report on Monday, January 29th. Truist Financial lifted their target price on shares of Blackstone Secured Lending Fund from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Citigroup upped their price objective on shares of Blackstone Secured Lending Fund from $30.00 to $31.00 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. Finally, Bank of America raised shares of Blackstone Secured Lending Fund from a “neutral” rating to a “buy” rating in a research note on Monday. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.42.

View Our Latest Research Report on Blackstone Secured Lending Fund

Blackstone Secured Lending Fund Trading Up 1.0 %

The stock’s fifty day moving average is $29.30 and its 200 day moving average is $28.29. The company has a market capitalization of $5.98 billion, a P/E ratio of 8.56 and a beta of 0.47.

Blackstone Secured Lending Fund (NYSE:BXSLGet Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. Blackstone Secured Lending Fund had a net margin of 53.50% and a return on equity of 14.44%. The company had revenue of $304.00 million during the quarter, compared to analyst estimates of $290.58 million. On average, analysts expect that Blackstone Secured Lending Fund will post 3.6 EPS for the current fiscal year.

Blackstone Secured Lending Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Sunday, March 31st will be paid a $0.77 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $3.08 annualized dividend and a dividend yield of 9.86%. Blackstone Secured Lending Fund’s payout ratio is 84.38%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BXSL. Advisor Group Holdings Inc. increased its stake 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 worth $61,000 after acquiring an additional 1,125 shares in the last quarter. JPMorgan Chase & Co. grew its position in Blackstone Secured Lending Fund by 115.1% during the 1st quarter. JPMorgan Chase & Co. now owns 127,137 shares of the company’s stock valued at $3,545,000 after purchasing an additional 68,036 shares during the last quarter. BlackRock Inc. purchased a new stake in Blackstone Secured Lending Fund during the 1st quarter valued at about $168,000. Cibc World Market Inc. purchased a new stake in Blackstone Secured Lending Fund during the 1st quarter valued at about $3,543,000. Finally, Mariner LLC purchased a new stake in Blackstone Secured Lending Fund during the 1st quarter valued at about $587,000. 36.49% of the stock is currently owned by institutional investors.

About Blackstone Secured Lending Fund

(Get Free Report)

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).

Further Reading

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