Blackstone Secured Lending Fund (NYSE:BXSL) Releases Earnings Results, Misses Expectations By $0.02 EPS

Blackstone Secured Lending Fund (NYSE:BXSL) released its quarterly earnings data on Wednesday. The company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.02), Zacks reports. Blackstone Secured Lending Fund had a return on equity of 13.15% and a net margin of 53.91%. The business had revenue of $353.00 million during the quarter, compared to the consensus estimate of $346.52 million.

Blackstone Secured Lending Fund Trading Up 1.5 %

Shares of BXSL traded up $0.50 during mid-day trading on Friday, reaching $33.63. The company’s stock had a trading volume of 331,190 shares, compared to its average volume of 1,041,051. Blackstone Secured Lending Fund has a 52 week low of $27.76 and a 52 week high of $34.64. The stock has a market cap of $7.53 billion, a PE ratio of 9.34 and a beta of 0.43. The company’s fifty day moving average price is $32.98 and its two-hundred day moving average price is $31.48.

Blackstone Secured Lending Fund Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 31st will be given a $0.77 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.08 dividend on an annualized basis and a yield of 9.16%. Blackstone Secured Lending Fund’s payout ratio is 85.56%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BXSL shares. Compass Point cut their price target on Blackstone Secured Lending Fund from $33.50 to $32.25 and set a “buy” rating for the company in a report on Friday, November 15th. JPMorgan Chase & Co. raised their target price on Blackstone Secured Lending Fund from $33.00 to $33.50 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Truist Financial upped their price target on Blackstone Secured Lending Fund from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday. Wells Fargo & Company increased their price target on shares of Blackstone Secured Lending Fund from $29.00 to $31.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Blackstone Secured Lending Fund from $30.50 to $32.00 and gave the company a “market perform” rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $32.54.

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).