Blackstone Secured Lending Fund (BXSL) To Go Ex-Dividend on September 30th

Blackstone Secured Lending Fund (NYSE:BXSL) declared a quarterly dividend on Thursday, August 6th. Stockholders of record on Wednesday, September 30th will be given a dividend of 0.77 per share on Friday, October 23rd. This represents a c) annualized dividend and a dividend yield of 12.6%. The ex-dividend date is Wednesday, September 30th.

Blackstone Secured Lending Fund has a 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 $2.57 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 119.8%.

Blackstone Secured Lending Fund Stock Up 1.6%

Shares of Blackstone Secured Lending Fund stock opened at $24.54 on Friday. The business has a fifty day simple moving average of $23.61 and a 200 day simple moving average of $24.07. The stock has a market cap of $5.71 billion, a PE ratio of 19.32 and a beta of 0.38. Blackstone Secured Lending Fund has a 12 month low of $22.47 and a 12 month high of $30.69.

Blackstone Secured Lending Fund (NYSE:BXSL) last issued its earnings results on Thursday, August 6th. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.09. The firm had revenue of $233.30 million for the quarter, compared to analysts’ expectations of $326.72 million. Blackstone Secured Lending Fund had a return on equity of 11.74% and a net margin of 21.51%. Analysts expect that Blackstone Secured Lending Fund will post 2.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BXSL. B. Riley Financial decreased their target price on shares of Blackstone Secured Lending Fund from $24.50 to $23.50 and set a “neutral” rating for the company in a research note on Tuesday, May 12th. JPMorgan Chase & Co. decreased their price objective on Blackstone Secured Lending Fund from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Thursday, July 2nd. Royal Bank Of Canada cut their price objective on shares of Blackstone Secured Lending Fund from $28.00 to $26.00 and set an “outperform” rating for the company in a report on Monday, May 18th. Keefe, Bruyette & Woods cut shares of Blackstone Secured Lending Fund from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $25.00 to $24.00 in a report on Monday, June 8th. Finally, UBS Group cut their price target on Blackstone Secured Lending Fund from $24.75 to $24.50 and set a “neutral” rating for the company in a research note on Monday, May 18th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $24.78.

Blackstone Secured Lending Fund Company Profile

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.