Blackstone Secured Lending Fund (NYSE:BXSL) Reaches New 52-Week High – Should You Buy?

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

Analyst Ratings Changes

A number of equities analysts have weighed in on BXSL shares. Wells Fargo & Company cut their target price on shares of Blackstone Secured Lending Fund from $32.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. JPMorgan Chase & Co. lifted their price objective on shares of Blackstone Secured Lending Fund from $31.50 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Compass Point dropped their target price on Blackstone Secured Lending Fund from $33.50 to $32.25 and set a “buy” rating on the stock in a research report on Friday, November 15th. Finally, Royal Bank of Canada reiterated 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. One research 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.88.

Blackstone Secured Lending Fund Price Performance

The stock has a market cap of $7.06 billion, a P/E ratio of 9.05 and a beta of 0.42. The firm’s fifty day moving average price is $30.75 and its two-hundred day moving average price is $30.64.

Blackstone Secured Lending Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Tuesday, December 31st will be paid a $0.77 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.08 dividend on an annualized basis and a yield of 9.45%. Blackstone Secured Lending Fund’s dividend payout ratio is currently 85.56%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of BXSL. Sunbelt Securities Inc. grew its position in Blackstone Secured Lending Fund by 0.7% in the third quarter. Sunbelt Securities Inc. now owns 49,442 shares of the company’s stock worth $1,448,000 after acquiring an additional 329 shares in the last quarter. Investment Partners Asset Management Inc. increased its position in shares of Blackstone Secured Lending Fund by 1.8% during the 3rd quarter. Investment Partners Asset Management Inc. now owns 18,305 shares of the company’s stock valued at $536,000 after purchasing an additional 332 shares during the last quarter. Financial Synergies Wealth Advisors Inc. raised its holdings in shares of Blackstone Secured Lending Fund by 3.0% during the 2nd quarter. Financial Synergies Wealth Advisors Inc. now owns 11,888 shares of the company’s stock valued at $364,000 after buying an additional 346 shares in the last quarter. Comerica Bank lifted its position in Blackstone Secured Lending Fund by 1.1% in the 1st quarter. Comerica Bank now owns 33,934 shares of the company’s stock worth $1,057,000 after buying an additional 361 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Blackstone Secured Lending Fund by 4.9% in the third quarter. The Manufacturers Life Insurance Company now owns 8,228 shares of the company’s stock worth $241,000 after buying an additional 382 shares in the last quarter. Hedge funds and other institutional investors own 36.49% of the company’s stock.

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).