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

Key Points

• Blackstone Secured Lending Fund declared a quarterly dividend of $0.77 per share, payable January 22 to shareholders of record December 31, equivalent to an annualized $3.08 dividend and a 12.9% yield.
• The dividend may be difficult to sustain: its payout ratio is 101.3%, and next year’s forecast earnings of $2.58 per share fall short of the $3.08 annual dividend.
• BXSL reported quarterly earnings of $0.50 per share, missing analyst estimates of $0.66; analysts have a consensus “Hold” rating and an average price target of $24.89.

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) declared a quarterly dividend on Wednesday, November 4th. Shareholders of record on Thursday, December 31st will be given a dividend of $0.77 per share on Friday, January 22nd. This represents a $3.08 annualized dividend and a yield of 12.9%. The ex-dividend date of this dividend is Thursday, December 31st.

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 research analysts expect Blackstone Secured Lending Fund to earn $2.58 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 119.4%.

Blackstone Secured Lending Fund Stock Up 2.9%

NYSE BXSL traded up $0.68 on Wednesday, hitting $23.90. The stock had a trading volume of 3,601,510 shares, compared to its average volume of 2,033,211. The company's 50-day moving average is $24.16 and its two-hundred day moving average is $24.14. Blackstone Secured Lending Fund has a one year low of $22.47 and a one year high of $28.59. The stock has a market cap of $5.57 billion, a price-to-earnings ratio of 18.82 and a beta of 0.39.

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates of $0.66 by ($0.16). The business had revenue of $315.18 million for the quarter, compared to the consensus estimate of $317.81 million. Blackstone Secured Lending Fund had a net margin of 21.51% and a return on equity of 11.86%. On average, sell-side analysts anticipate that Blackstone Secured Lending Fund will post 2.85 earnings per share for the current year.

Wall Street Analyst Weigh In

BXSL has been the topic of several analyst reports. Wall Street Zen upgraded Blackstone Secured Lending Fund from a "sell" rating to a "hold" rating in a research report on Saturday, July 18th. UBS Group boosted their price target on Blackstone Secured Lending Fund from $24.50 to $25.50 and gave the stock a "neutral" rating in a research report on Tuesday, September 1st. Zacks Research raised Blackstone Secured Lending Fund from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 5th. Oppenheimer assumed coverage on Blackstone Secured Lending Fund in a research note on Thursday, July 23rd. They issued a "market perform" rating and a $25.00 price target for the company. Finally, Citizens Jmp began coverage on Blackstone Secured Lending Fund in a report on Monday, October 26th. They set a "market perform" rating on the stock. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $24.89.

Blackstone Secured Lending Fund Company Profile

Blackstone Secured Lending Fund NYSE: BXSL is a business development company that invests in privately owned middle-market companies. The fund seeks to generate current income and long-term capital appreciation primarily through investments in senior secured, floating-rate loans.

BXSL's portfolio may also include second-lien loans, unsecured debt and equity investments. Its investments are generally made in companies across a range of industries, with an emphasis on businesses that have established operations and cash flows.

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