Blackstone Secured Lending Fund (NYSE:BXSL) Releases Earnings Results, Beats Estimates By $0.09 EPS

Key Points

• BXSL beat earnings expectations, reporting $0.75 per share versus the $0.66 consensus estimate, but revenue of $233.3 million fell well short of the $326.7 million forecast.
• Repayments accelerated to an annualized 21% of portfolio fair value, generating more than $700 million in liquidity, while the fund deployed over $300 million into five new borrowers with lower leverage and wider spreads.
• The $0.77 quarterly dividend was maintained, but it exceeded net investment income and management is evaluating a potential long-term dividend reduction; NAV per share also declined 2.8% to $25.53.

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) issued its quarterly earnings results on Thursday. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.09, Zacks reports. Blackstone Secured Lending Fund had a return on equity of 11.74% and a net margin of 21.51%.The firm had revenue of $233.30 million for the quarter, compared to the consensus estimate of $326.72 million.

Here are the key takeaways from Blackstone Secured Lending Fund's conference call:

• Repayments accelerated, reaching an annualized 21% of the portfolio at fair value versus 13% in Q1, generating more than $700 million of liquidity and potential pull-to-par gains as assets mature.
• BXSL deployed over $300 million into five new borrowers, with management citing lower leverage, lower loan-to-values and wider spreads; executives also remain constructive on improving M&A and deal activity.
• Net investment income was $0.75 per share, below the $0.77 dividend, and management said it is using undistributed earnings as a temporary bridge while evaluating a lower long-term dividend amid lower base rates and maturing investments.
• NAV per share declined 2.8% to $25.53, driven by $0.59 per share of unrealized losses and $0.12 of realized losses; the portfolio mark fell to 95.2 amid spread widening and weakness in selected assets, although non-accruals improved and no new assets were added.

Blackstone Secured Lending Fund Trading Up 1.6%

Shares of NYSE:BXSL traded up $0.39 on Friday, reaching $24.54. The company had a trading volume of 2,088,776 shares, compared to its average volume of 1,593,497. The firm has a market capitalization of $5.71 billion, a PE ratio of 19.32 and a beta of 0.38. Blackstone Secured Lending Fund has a 52-week low of $22.47 and a 52-week high of $30.69. The firm's 50 day simple moving average is $23.61 and its 200-day simple moving average is $24.07.

Blackstone Secured Lending Fund Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Wednesday, September 30th will be issued a $0.77 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 12.6%. Blackstone Secured Lending Fund's dividend payout ratio (DPR) is currently 161.26%.

More Blackstone Secured Lending Fund News

Here are the key news stories impacting Blackstone Secured Lending Fund this week:

• Positive Sentiment: BXSL reported net investment income of $0.75 per share, surpassing the $0.66 analyst consensus, while return on NAV remained steady. The portfolio also recorded no new non-accrual investments, suggesting credit performance remains stable. Blackstone Secured Lending turns in solid Q2 results with return on NAV holding steady
• Positive Sentiment: The company’s portfolio remains heavily weighted toward first-lien senior secured debt, which represented 96.8% of investments at fair value. Non-accrual investments were limited to 1.8%, and BXSL had approximately $2.8 billion of liquidity at quarter-end. Blackstone Secured Lending Fund Reports Second-Quarter 2026 Results
• Positive Sentiment: BXSL declared a quarterly dividend of $0.77 per share, payable October 23 to shareholders of record September 30. At the reported share price, that equates to an annualized yield of roughly 12.7%, supporting the stock’s income appeal.
• Neutral Sentiment: Zacks Research upgraded BXSL from “strong sell” to “hold,” indicating a less negative view but not a bullish recommendation.
• Negative Sentiment: Despite the earnings beat, quarterly net income fell sharply to approximately $9 million, or $0.04 per share. Reported revenue of $233.3 million was also below the $326.7 million consensus estimate, highlighting pressure on overall profitability. Blackstone Secured Lending Fund Surpasses Q2 Earnings Estimates
• Negative Sentiment: An analysis argues investors should prepare for a potential dividend reset. Although the current payout was maintained, lower earnings and changing interest-rate conditions could make the high dividend less sustainable or lead to reduced distributions. Blackstone Secured Lending: Get Ready For A Dividend Reset

Insider Buying and Selling at Blackstone Secured Lending Fund

In related news, insider Robert J. Bass acquired 2,095 shares of the firm's stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average cost of $23.80 per share, for a total transaction of $49,861.00. Following the purchase, the insider directly owned 25,107 shares of the company's stock, valued at $597,546.60. This trade represents a 9.10% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 0.11% of the stock is owned by company insiders.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

A number of large investors have recently added to or reduced their stakes in the company. Osterweis Capital Management Inc. bought a new stake in shares of Blackstone Secured Lending Fund in the 4th quarter valued at about $33,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Blackstone Secured Lending Fund during the 4th quarter worth approximately $70,000. Ankerstar Wealth LLC bought a new position in shares of Blackstone Secured Lending Fund during the 4th quarter worth approximately $79,000. Garton & Associates Financial Advisors LLC purchased a new stake in Blackstone Secured Lending Fund during the fourth quarter valued at approximately $167,000. Finally, Prosperity Consulting Group LLC purchased a new stake in Blackstone Secured Lending Fund during the third quarter valued at approximately $214,000. 36.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on BXSL shares. Royal Bank Of Canada cut their price objective on Blackstone Secured Lending Fund from $28.00 to $26.00 and set an "outperform" rating on the stock in a research report on Monday, May 18th. JPMorgan Chase & Co. decreased their target price on Blackstone Secured Lending Fund from $24.00 to $23.00 and set an "overweight" rating for the company in a research report on Thursday, July 2nd. Truist Financial lowered their target price on shares of Blackstone Secured Lending Fund from $30.00 to $26.00 and set a "buy" rating for the company in a research note on Tuesday, May 19th. Wall Street Zen upgraded shares of Blackstone Secured Lending Fund from a "sell" rating to a "hold" rating in a report on Saturday, July 18th. Finally, B. Riley Financial reduced their price target on shares of Blackstone Secured Lending Fund from $24.50 to $23.50 and set a "neutral" rating on the stock in a research note on Tuesday, May 12th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $24.78.

About Blackstone Secured Lending Fund

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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