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

Blackstone Secured Lending Fund (NYSE:BXSL) was downgraded by equities research analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a research report issued on Monday, Marketbeat Ratings reports. They presently have a $29.00 target price on the stock. Wells Fargo & Company‘s target price would suggest a potential downside of 10.99% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target 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. Royal Bank of Canada restated 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. Finally, Compass Point reduced their target price on shares of Blackstone Secured Lending Fund from $33.50 to $32.25 and set a “buy” rating on the stock in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $31.54.

Blackstone Secured Lending Fund Trading Up 1.4 %

NYSE:BXSL opened at $32.58 on Monday. The company has a market capitalization of $7.06 billion, a P/E ratio of 9.05 and a beta of 0.42. The business’s 50-day moving average is $30.75 and its 200 day moving average is $30.64. Blackstone Secured Lending Fund has a 12 month low of $27.23 and a 12 month high of $32.67.

Institutional Inflows and Outflows

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