Compass Point Issues Pessimistic Forecast for Blackstone Secured Lending Fund (NYSE:BXSL) Stock Price

Blackstone Secured Lending Fund (NYSE:BXSL) had its price objective decreased by stock analysts at Compass Point from $33.50 to $32.25 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Compass Point’s price objective indicates a potential upside of 4.50% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Royal Bank of Canada restated an “outperform” rating and issued a $33.00 price target on shares of Blackstone Secured Lending Fund in a research report on Wednesday, August 14th. Wells Fargo & Company decreased 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. Finally, JPMorgan Chase & Co. lifted their price objective on 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $31.88.

Blackstone Secured Lending Fund Trading Down 0.2 %

NYSE:BXSL opened at $30.86 on Friday. The stock’s 50-day moving average is $30.44 and its 200-day moving average is $30.65. Blackstone Secured Lending Fund has a 1-year low of $27.23 and a 1-year high of $32.67. The stock has a market cap of $6.69 billion, a P/E ratio of 8.57 and a beta of 0.42.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Institutional investors and hedge funds have recently modified their holdings of the business. Signaturefd LLC bought a new position in Blackstone Secured Lending Fund during the third quarter worth $29,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Blackstone Secured Lending Fund during the second quarter valued at about $32,000. Blue Trust Inc. boosted its position in shares of Blackstone Secured Lending Fund by 1,466.7% during the 3rd quarter. Blue Trust Inc. now owns 1,175 shares of the company’s stock worth $36,000 after purchasing an additional 1,100 shares in the last quarter. Farmers & Merchants Investments Inc. acquired a new stake in shares of Blackstone Secured Lending Fund in the 2nd quarter valued at about $37,000. Finally, Quarry LP bought a new stake in Blackstone Secured Lending Fund in the 3rd quarter valued at about $48,000. 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).