Blackstone Secured Lending Fund Declares Quarterly Dividend of $0.77 (NYSE:BXSL)

Blackstone Secured Lending Fund (NYSE:BXSL) declared a quarterly dividend on Tuesday, November 12th,Zacks Dividends reports. Shareholders of record on Tuesday, December 31st will be given a dividend of 0.77 per share on Friday, January 24th. This represents a $3.08 annualized dividend and a yield of 9.94%. The ex-dividend date is Tuesday, December 31st.

Blackstone Secured Lending Fund has a payout ratio of 94.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Blackstone Secured Lending Fund to earn $3.29 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 93.6%.

Blackstone Secured Lending Fund Trading Up 0.4 %

BXSL stock traded up $0.13 on Wednesday, hitting $31.00. 961,797 shares of the company’s stock traded hands, compared to its average volume of 938,265. The stock has a market cap of $6.40 billion, a price-to-earnings ratio of 8.63 and a beta of 0.42. Blackstone Secured Lending Fund has a 1-year low of $27.23 and a 1-year high of $32.67. The stock has a fifty day moving average of $30.38 and a 200-day moving average of $30.66.

Blackstone Secured Lending Fund (NYSE:BXSL) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.01. The company had revenue of $343.00 million during the quarter, compared to the consensus estimate of $334.10 million. Blackstone Secured Lending Fund had a return on equity of 13.49% and a net margin of 53.91%. On average, equities research analysts anticipate that Blackstone Secured Lending Fund will post 3.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BXSL. JPMorgan Chase & Co. boosted their price objective on Blackstone Secured Lending Fund from $31.50 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Royal Bank of Canada restated an “outperform” rating and issued a $33.00 price target on shares of Blackstone Secured Lending Fund in a research report on Wednesday, August 14th. Finally, Wells Fargo & Company dropped their price target on shares of Blackstone Secured Lending Fund from $32.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $31.80.

About Blackstone Secured Lending Fund

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).