Blackstone Secured Lending Fund (NYSE:BXSL) to Issue $0.77 Quarterly Dividend

Blackstone Secured Lending Fund (NYSE:BXSL) announced a quarterly dividend on Thursday, August 6th. Investors of record on Wednesday, September 30th will be paid a dividend of 0.77 per share on Friday, October 23rd. This represents a c) annualized dividend and a yield of 12.7%. The ex-dividend date is Wednesday, September 30th.

Blackstone Secured Lending Fund has a 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. Equities 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 Price Performance

Shares of Blackstone Secured Lending Fund stock opened at $24.17 on Friday. Blackstone Secured Lending Fund has a one year low of $22.47 and a one year high of $30.69. The business’s 50 day simple moving average is $23.59 and its two-hundred day simple moving average is $24.06. The stock has a market capitalization of $5.62 billion, a P/E ratio of 12.66 and a beta of 0.38.

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 the consensus estimate of $0.66 by $0.09. Blackstone Secured Lending Fund had a net margin of 31.63% and a return on equity of 11.73%. The firm had revenue of $233.30 million for the quarter, compared to analysts’ expectations of $326.72 million. Sell-side analysts expect that Blackstone Secured Lending Fund will post 2.75 earnings per share for the current fiscal year.

Insider Transactions at Blackstone Secured Lending Fund

In other news, insider Robert J. Bass acquired 2,095 shares of the stock in a transaction on Tuesday, May 12th. The stock was acquired at an average price of $23.80 per share, with a total value of $49,861.00. Following the completion of the transaction, the insider owned 25,107 shares of the company’s stock, valued at $597,546.60. This represents a 9.10% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.11% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Cornerstone Advisory LLC increased its position in shares of Blackstone Secured Lending Fund by 409.0% during the fourth quarter. Cornerstone Advisory LLC now owns 114,281 shares of the company’s stock valued at $3,009,000 after acquiring an additional 91,831 shares in the last quarter. BigSur Wealth Management LLC lifted its position in Blackstone Secured Lending Fund by 2.8% in the 4th quarter. BigSur Wealth Management LLC now owns 124,349 shares of the company’s stock valued at $3,370,000 after acquiring an additional 3,370 shares in the last quarter. CWC Advisors LLC. lifted its position in Blackstone Secured Lending Fund by 3.0% in the 4th quarter. CWC Advisors LLC. now owns 166,498 shares of the company’s stock valued at $4,384,000 after acquiring an additional 4,782 shares in the last quarter. Nations Financial Group Inc. IA ADV purchased a new stake in Blackstone Secured Lending Fund during the 4th quarter valued at $216,000. Finally, Farther Finance Advisors LLC boosted its stake in Blackstone Secured Lending Fund by 98.6% during the 4th quarter. Farther Finance Advisors LLC now owns 54,671 shares of the company’s stock valued at $1,439,000 after purchasing an additional 27,136 shares during the last quarter. 36.49% of the stock is currently owned by institutional investors.

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.