Blackstone Secured Lending Fund (NYSE:BXSL) Rating Lowered to “Equal Weight” at Wells Fargo & Company

Blackstone Secured Lending Fund (NYSE:BXSL) was downgraded by Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a note issued to investors on Monday, MarketBeat Ratings reports. They presently have a $29.00 target price on the stock. Wells Fargo & Company‘s target price would indicate a potential downside of 10.99% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Royal Bank of Canada restated an “outperform” rating and set a $33.00 price objective on shares of Blackstone Secured Lending Fund in a research note on Wednesday, August 14th. Compass Point decreased 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. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Blackstone Secured Lending Fund from $31.50 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $31.54.

Blackstone Secured Lending Fund Stock Up 1.4 %

Blackstone Secured Lending Fund stock opened at $32.58 on Monday. The firm has a market cap of $7.06 billion, a P/E ratio of 9.05 and a beta of 0.42. The business has a fifty day moving average of $30.75 and a two-hundred day moving average of $30.64. Blackstone Secured Lending Fund has a twelve month low of $27.23 and a twelve month high of $32.67.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

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