Blackstone Secured Lending Fund (NYSE:BXSL) Sets New 52-Week High at $32.47

Blackstone Secured Lending Fund (NYSE:BXSL) shares reached a new 52-week high on Monday . The stock traded as high as $32.47 and last traded at $32.17, with a volume of 125656 shares. The stock had previously closed at $32.09.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Citigroup increased their price target on shares of Blackstone Secured Lending Fund from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Truist Financial boosted their price target on Blackstone Secured Lending Fund from $30.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Bank of America upgraded Blackstone Secured Lending Fund from a “neutral” rating to a “buy” rating in a research note on Monday, March 25th. Raymond James reiterated a “market perform” rating on shares of Blackstone Secured Lending Fund in a research note on Thursday, February 29th. Finally, Wells Fargo & Company lifted their price target on shares of Blackstone Secured Lending Fund from $28.50 to $30.50 and gave the company an “overweight” rating in a report on Monday, January 29th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $30.92.

Blackstone Secured Lending Fund Price Performance

The stock has a market capitalization of $6.07 billion, a price-to-earnings ratio of 8.68 and a beta of 0.49. The company has a 50-day simple moving average of $30.69 and a two-hundred day simple moving average of $29.02.

Blackstone Secured Lending Fund (NYSE:BXSL) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. The business had revenue of $304.00 million for the quarter, compared to analysts’ expectations of $290.58 million. Blackstone Secured Lending Fund had a net margin of 53.50% and a return on equity of 14.44%. Research analysts anticipate that Blackstone Secured Lending Fund will post 3.63 EPS for the current year.

Blackstone Secured Lending Fund Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Sunday, March 31st were issued a dividend of $0.77 per share. The ex-dividend date was Wednesday, March 27th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 9.72%. Blackstone Secured Lending Fund’s dividend payout ratio (DPR) is presently 84.38%.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BXSL. Van ECK Associates Corp boosted its position in Blackstone Secured Lending Fund by 14.9% during the 1st quarter. Van ECK Associates Corp now owns 1,540,503 shares of the company’s stock worth $47,987,000 after acquiring an additional 200,109 shares during the period. OMERS ADMINISTRATION Corp grew its position in Blackstone Secured Lending Fund by 2.7% in the 3rd quarter. OMERS ADMINISTRATION Corp now owns 1,383,894 shares of the company’s stock valued at $37,863,000 after buying an additional 36,188 shares in the last quarter. 1832 Asset Management L.P. grew its position in Blackstone Secured Lending Fund by 19.2% in the 4th quarter. 1832 Asset Management L.P. now owns 953,800 shares of the company’s stock valued at $26,363,000 after buying an additional 153,800 shares in the last quarter. HighTower Advisors LLC increased its stake in Blackstone Secured Lending Fund by 11.3% during the 3rd quarter. HighTower Advisors LLC now owns 951,670 shares of the company’s stock valued at $26,029,000 after buying an additional 96,245 shares during the period. Finally, Northeast Financial Consultants Inc raised its position in shares of Blackstone Secured Lending Fund by 24.9% during the 3rd quarter. Northeast Financial Consultants Inc now owns 885,114 shares of the company’s stock worth $24,217,000 after buying an additional 176,374 shares in the last quarter. 36.49% of the stock is owned by institutional investors.

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).