Blackstone Secured Lending Fund (NYSE:BXSL) Shares Set to Pay Quarterly Dividend of $0.77

Blackstone Secured Lending Fund (NYSE:BXSL) declared a quarterly dividend on Wednesday, November 4th. Shareholders of record on Thursday, December 31st will be given a dividend of $0.77 per share on Friday, January 22nd. This represents a $3.08 annualized dividend and a dividend yield of 12.9%. The ex-dividend date is Thursday, December 31st.

Blackstone Secured Lending Fund has a dividend payout ratio of 101.3% meaning 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 $2.58 per share next year, which means the company may not be able to cover its $3.08 annual dividend with an expected future payout ratio of 119.4%.

Blackstone Secured Lending Fund Price Performance

Shares of NYSE:BXSL traded up $0.68 on Wednesday, reaching $23.90. 3,601,510 shares of the company traded hands, compared to its average volume of 2,033,211. Blackstone Secured Lending Fund has a fifty-two week low of $22.47 and a fifty-two week high of $28.59. The company’s 50 day moving average is $24.16 and its 200-day moving average is $24.14. The stock has a market capitalization of $5.57 billion, a PE ratio of 18.82 and a beta of 0.39.

Blackstone Secured Lending Fund (NYSE:BXSL) last issued its earnings results on Wednesday, November 4th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.16). The company had revenue of $315.18 million during the quarter, compared to analyst estimates of $317.81 million. Blackstone Secured Lending Fund had a return on equity of 11.86% and a net margin of 21.51%. As a group, analysts expect that Blackstone Secured Lending Fund will post 2.85 EPS for the current year.

Institutional Trading of Blackstone Secured Lending Fund

Several hedge funds and other institutional investors have recently modified their holdings of BXSL. Allied Private Wealth LLC acquired a new position in Blackstone Secured Lending Fund during the second quarter valued at $32,000. FNY Investment Advisers LLC purchased a new stake in Blackstone Secured Lending Fund in the 2nd quarter worth about $33,000. Latitude Advisors LLC purchased a new stake in Blackstone Secured Lending Fund in the 3rd quarter worth about $37,000. Quantum Portfolio Management LLC purchased a new stake in Blackstone Secured Lending Fund in the 1st quarter worth about $38,000. Finally, First Bancorp Inc ME acquired a new stake in Blackstone Secured Lending Fund during the 2nd quarter worth about $38,000. Institutional investors and hedge funds own 36.49% of the company’s stock.

About Blackstone Secured Lending Fund

Blackstone Secured Lending Fund (NYSE: BXSL) is a business development company that invests in privately owned middle-market companies. The fund seeks to generate current income and long-term capital appreciation primarily through investments in senior secured, floating-rate loans.

BXSL’s portfolio may also include second-lien loans, unsecured debt and equity investments. Its investments are generally made in companies across a range of industries, with an emphasis on businesses that have established operations and cash flows.