Blackstone Secured Lending Fund (BXSL) to Issue Quarterly Dividend of $0.77 on April 24th

Blackstone Secured Lending Fund (NYSE:BXSL) announced a quarterly dividend on Wednesday, February 25th. Investors of record on Tuesday, March 31st will be given a dividend of 0.77 per share on Friday, April 24th. This represents a c) dividend on an annualized basis and a yield of 12.6%. The ex-dividend date is Tuesday, March 31st.

Blackstone Secured Lending Fund has a dividend payout ratio of 101.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Blackstone Secured Lending Fund to earn $3.30 per share next year, which means the company should continue to be able to cover its $3.08 annual dividend with an expected future payout ratio of 93.3%.

Blackstone Secured Lending Fund Stock Down 0.9%

Shares of NYSE BXSL opened at $24.42 on Friday. Blackstone Secured Lending Fund has a twelve month low of $23.31 and a twelve month high of $34.17. The firm has a market capitalization of $5.65 billion, a P/E ratio of 9.93 and a beta of 0.41. The stock’s 50-day simple moving average is $25.76 and its two-hundred day simple moving average is $26.99.

Blackstone Secured Lending Fund (NYSE:BXSL) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.01. Blackstone Secured Lending Fund had a net margin of 39.69% and a return on equity of 11.81%. The firm had revenue of $196.54 million for the quarter, compared to analyst estimates of $359.59 million. As a group, research analysts anticipate that Blackstone Secured Lending Fund will post 3.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

Several large investors have recently bought and sold shares of the business. Van ECK Associates Corp raised its position in Blackstone Secured Lending Fund by 112.1% in the 4th quarter. Van ECK Associates Corp now owns 5,149,915 shares of the company’s stock worth $135,597,000 after buying an additional 2,721,843 shares during the last quarter. UBS Group AG grew its stake in shares of Blackstone Secured Lending Fund by 112.5% in the fourth quarter. UBS Group AG now owns 4,731,343 shares of the company’s stock worth $124,576,000 after acquiring an additional 2,504,617 shares during the period. Bank of America Corp DE raised its holdings in shares of Blackstone Secured Lending Fund by 11.9% during the second quarter. Bank of America Corp DE now owns 7,820,346 shares of the company’s stock valued at $240,476,000 after purchasing an additional 832,179 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Blackstone Secured Lending Fund by 1,160.9% during the third quarter. Marshall Wace LLP now owns 869,964 shares of the company’s stock valued at $22,680,000 after purchasing an additional 800,969 shares during the last quarter. Finally, Empyrean Capital Partners LP purchased a new position in shares of Blackstone Secured Lending Fund during the fourth quarter valued at approximately $20,142,000. 36.49% of the stock is currently owned by institutional investors.

About Blackstone Secured Lending Fund

Blackstone Secured Lending Fund (NYSE: BXSL) is a closed-end management investment company sponsored by Blackstone Credit, the credit-oriented business of Blackstone Inc Launched in May 2020, BXSL seeks to deliver attractive risk-adjusted returns primarily through current income and, to a lesser extent, capital appreciation. The fund raises capital from institutional and retail investors and deploys it into a diversified portfolio of senior secured loans and other credit instruments.

The fund’s principal investment focus is on first-lien senior secured loans and unitranche debt extended to middle-market companies across North America.