Blackstone Secured Lending Fund (NYSE:BXSL) Hits New 12-Month High – Should You Buy?

Blackstone Secured Lending Fund (NYSE:BXSL) shares hit a new 52-week high on Tuesday . The company traded as high as $32.75 and last traded at $32.74, with a volume of 121816 shares. The stock had previously closed at $32.49.

Analyst Ratings Changes

Several research analysts have commented on the stock. Compass Point decreased their target price on shares of Blackstone Secured Lending Fund from $33.50 to $32.25 and set a “buy” rating for the company in a report on Friday, November 15th. Wells Fargo & Company cut shares of Blackstone Secured Lending Fund from an “overweight” rating to an “equal weight” rating and set a $29.00 price objective on the stock. in a research report on Monday, December 2nd. Two research analysts have 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 company has an average rating of “Moderate Buy” and a consensus price target of $31.54.

Blackstone Secured Lending Fund Trading Up 1.0 %

The business’s 50-day simple moving average is $31.46 and its 200-day simple moving average is $30.75. The company has a market cap of $7.11 billion, a PE ratio of 9.11 and a beta of 0.43.

Blackstone Secured Lending Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Tuesday, December 31st will be given a dividend of $0.77 per share. The ex-dividend date is Tuesday, December 31st. This represents a $3.08 dividend on an annualized basis and a yield of 9.39%. Blackstone Secured Lending Fund’s payout ratio is 85.56%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. increased its holdings in Blackstone Secured Lending Fund by 25.3% in the third quarter. Franklin Resources Inc. now owns 373,995 shares of the company’s stock worth $11,156,000 after buying an additional 75,535 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of Blackstone Secured Lending Fund by 7.4% during the 3rd quarter. Tidal Investments LLC now owns 13,960 shares of the company’s stock valued at $409,000 after purchasing an additional 960 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Blackstone Secured Lending Fund in the 3rd quarter valued at $1,506,000. Pine Valley Investments Ltd Liability Co boosted its holdings in Blackstone Secured Lending Fund by 3.8% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 160,686 shares of the company’s stock worth $4,709,000 after purchasing an additional 5,837 shares in the last quarter. Finally, Sunbelt Securities Inc. increased its position in Blackstone Secured Lending Fund by 0.7% during the third quarter. Sunbelt Securities Inc. now owns 49,442 shares of the company’s stock worth $1,448,000 after buying an additional 329 shares during the last quarter. 36.49% of the stock is owned by institutional investors and hedge funds.

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).