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

Key Points

• Blackstone Secured Lending Fund has declared a quarterly dividend of $0.77 per share, with an ex-dividend date set for September 30th, indicating a 10.2% annualized dividend yield.
• The fund currently has a dividend payout ratio of 101.3%, meaning it relies on its balance sheet to cover dividend payments, although analysts expect a future payout ratio to drop to 93.3% based on projected earnings.
• Following its latest earnings report, the fund reported an EPS of $0.77, missing estimates, while its stock price closed at $30.09 after trading down.

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) declared a quarterly dividend on Thursday, August 7th, Wall Street Journal reports. Investors of record on Tuesday, September 30th will be given a dividend of 0.77 per share on Friday, October 24th. This represents a c) dividend on an annualized basis and a dividend yield of 10.1%. The ex-dividend date is Tuesday, 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 $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 Stock Down 0.4%

Shares of NYSE BXSL traded down $0.11 during trading hours on Monday, hitting $30.43. 142,149 shares of the stock were exchanged, compared to its average volume of 1,082,887. The company has a market cap of $7.01 billion, a PE ratio of 10.71 and a beta of 0.46. The firm has a fifty day moving average price of $31.51 and a 200-day moving average price of $31.56. Blackstone Secured Lending Fund has a 12 month low of $25.89 and a 12 month high of $34.64.

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.77 earnings per share for the quarter, missing analysts' consensus estimates of $0.81 by ($0.04). Blackstone Secured Lending Fund had a net margin of 44.25% and a return on equity of 12.07%. The company had revenue of $344.80 million for the quarter, compared to analyst estimates of $353.55 million. As a group, equities analysts anticipate that Blackstone Secured Lending Fund will post 3.54 earnings per share for the current fiscal year.

Insider Transactions at Blackstone Secured Lending Fund

In other Blackstone Secured Lending Fund news, insider Robert J. Bass purchased 1,626 shares of the stock in a transaction on Tuesday, May 13th. The stock was acquired at an average price of $30.78 per share, with a total value of $50,048.28. Following the transaction, the insider directly owned 17,403 shares of the company's stock, valued at approximately $535,664.34. This trade represents a 10.31% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hedeker Wealth LLC lifted its stake in shares of Blackstone Secured Lending Fund by 0.7% in the second quarter. Hedeker Wealth LLC now owns 80,996 shares of the company's stock valued at $2,491,000 after purchasing an additional 532 shares during the period. Cetera Investment Advisers grew its stake in Blackstone Secured Lending Fund by 63.6% during the second quarter. Cetera Investment Advisers now owns 336,127 shares of the company's stock worth $10,336,000 after buying an additional 130,702 shares during the period. Foundations Investment Advisors LLC purchased a new position in shares of Blackstone Secured Lending Fund in the second quarter valued at $259,000. CFO4Life Group LLC boosted its stake in Blackstone Secured Lending Fund by 1.1% during the 2nd quarter. CFO4Life Group LLC now owns 62,903 shares of the company's stock valued at $1,934,000 after acquiring an additional 688 shares during the last quarter. Finally, King Wealth Management Group boosted its stake in Blackstone Secured Lending Fund by 142.9% during the 2nd quarter. King Wealth Management Group now owns 17,000 shares of the company's stock valued at $523,000 after acquiring an additional 10,000 shares during the last quarter. 36.49% of the stock is currently owned by institutional investors and hedge funds.

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).