Blackstone Secured Lending Fund (NYSE:BXSL) Sets New 1-Year High at $31.76

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $31.76 and last traded at $31.63, with a volume of 616514 shares changing hands. The stock had previously closed at $31.31.

Analyst Upgrades and Downgrades

Several analysts have recently commented on BXSL shares. Citigroup increased their price target on shares of Blackstone Secured Lending Fund from $30.00 to $31.00 and gave the company a "buy" rating in a research report on Thursday, February 29th. Bank of America upgraded shares of Blackstone Secured Lending Fund from a "neutral" rating to a "buy" rating in a research report on Monday, March 25th. JPMorgan Chase & Co. increased their price target on shares of Blackstone Secured Lending Fund from $30.00 to $31.50 and gave the company an "overweight" rating in a research report on Friday, April 12th. Raymond James reiterated a "market perform" rating on shares of Blackstone Secured Lending Fund in a research report on Thursday, February 29th. Finally, Truist Financial increased their price target on shares of Blackstone Secured Lending Fund from $30.00 to $32.00 and gave the company a "buy" rating in a research report on Thursday, February 29th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $30.92.

Blackstone Secured Lending Fund Price Performance

The stock's 50-day moving average is $30.35 and its 200-day moving average is $28.79. The stock has a market cap of $6.06 billion, a price-to-earnings ratio of 8.66 and a beta of 0.49.

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) last announced its earnings results on Wednesday, February 28th. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. Blackstone Secured Lending Fund had a net margin of 53.50% and a return on equity of 14.44%. The firm had revenue of $304.00 million for the quarter, compared to analyst estimates of $290.58 million. Analysts predict that Blackstone Secured Lending Fund will post 3.63 EPS for the current fiscal year.

Blackstone Secured Lending Fund Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Sunday, March 31st will be given a dividend of $0.77 per share. The ex-dividend date is Wednesday, March 27th. This represents a $3.08 dividend on an annualized basis and a yield of 9.74%. Blackstone Secured Lending Fund's dividend payout ratio (DPR) is currently 84.38%.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Hedge funds have recently made changes to their positions in the stock. Barnett & Company Inc. acquired a new position in shares of Blackstone Secured Lending Fund in the 3rd quarter valued at $854,000. Klingman & Associates LLC purchased a new position in shares of Blackstone Secured Lending Fund in the 3rd quarter valued at $375,000. Gradient Investments LLC purchased a new position in shares of Blackstone Secured Lending Fund in the 3rd quarter valued at $55,000. SVB Wealth LLC raised its stake in shares of Blackstone Secured Lending Fund by 20.5% in the 3rd quarter. SVB Wealth LLC now owns 10,395 shares of the company's stock valued at $284,000 after acquiring an additional 1,768 shares during the period. Finally, Crescent Grove Advisors LLC raised its stake in shares of Blackstone Secured Lending Fund by 374.3% in the 3rd quarter. Crescent Grove Advisors LLC now owns 72,750 shares of the company's stock valued at $2,046,000 after acquiring an additional 57,410 shares during the period. Institutional investors and hedge funds own 36.49% of the company's stock.

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).