Blackstone Secured Lending Fund (BXSL) to Issue Quarterly Dividend of $0.77 on January 23rd

Blackstone Secured Lending Fund (NYSE:BXSL) announced a quarterly dividend on Monday, November 10th. Shareholders of record on Wednesday, December 31st will be given a dividend of 0.77 per share on Friday, January 23rd. This represents a c) dividend on an annualized basis and a yield of 11.5%. The ex-dividend date is Wednesday, December 31st.

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. Equities 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 Trading Up 0.3%

NYSE:BXSL opened at $26.68 on Wednesday. Blackstone Secured Lending Fund has a 12-month low of $24.85 and a 12-month high of $34.64. The stock has a market capitalization of $6.14 billion, a P/E ratio of 10.03 and a beta of 0.42. The stock has a 50-day moving average price of $26.97 and a 200 day moving average price of $29.58.

Blackstone Secured Lending Fund (NYSE:BXSL) last issued its earnings results on Monday, November 10th. The company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.02. The firm had revenue of $358.56 million during the quarter, compared to analyst estimates of $353.55 million. Blackstone Secured Lending Fund had a net margin of 42.38% and a return on equity of 11.89%. On average, research analysts predict that Blackstone Secured Lending Fund will post 3.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BXSL has been the topic of several research reports. UBS Group reduced their price target on shares of Blackstone Secured Lending Fund from $31.00 to $28.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. Zacks Research upgraded Blackstone Secured Lending Fund from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Royal Bank Of Canada decreased their price objective on Blackstone Secured Lending Fund from $33.00 to $32.00 and set an “outperform” rating on the stock in a research report on Thursday, September 4th. Wall Street Zen lowered Blackstone Secured Lending Fund from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Finally, Keefe, Bruyette & Woods cut their target price on Blackstone Secured Lending Fund from $30.00 to $29.00 and set an “outperform” rating on the stock in a research report on Tuesday. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $30.41.

Blackstone Secured Lending Fund Company Profile

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).