Blackstone Secured Lending Fund (NYSE:BXSL) to Issue Quarterly Dividend of $0.60

Key Points

• Blackstone Secured Lending Fund declared a $0.60 quarterly dividend, down 22.1% from $0.77; the article cites an annualized yield of 10.0%.
• The dividend may be difficult to sustain: the current payout ratio is 101.3%, and analysts’ projected earnings imply a future payout ratio of 119.4% against the article’s stated annual dividend.
• Quarterly EPS of $0.68 beat the $0.66 consensus estimate, while revenue of $315.18 million fell short of analysts’ $317.81 million estimate.

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) declared a quarterly dividend on Wednesday, November 4th. Investors of record on Wednesday, March 31st will be given a dividend of $0.60 per share on Friday, April 23rd. This represents a $2.40 annualized dividend and a dividend yield of 10.0%. The ex-dividend date is Wednesday, March 31st. This is a 22.1% decrease from Blackstone Secured Lending Fund's previous quarterly dividend of $0.77.

Blackstone Secured Lending Fund has a dividend payout ratio of 101.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 opened at $23.90 on Thursday. The stock's 50-day simple moving average is $24.14 and its two-hundred day simple moving average is $24.12. Blackstone Secured Lending Fund has a twelve month low of $22.47 and a twelve month high of $28.59. The company has a market capitalization 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 issued its quarterly earnings results on Wednesday, November 4th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.02. Blackstone Secured Lending Fund had a return on equity of 11.86% and a net margin of 21.51%. The firm had revenue of $315.18 million during the quarter, compared to analyst estimates of $317.81 million. On average, equities analysts expect that Blackstone Secured Lending Fund will post 2.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Several large investors have recently made changes to their positions in BXSL. Lido Advisors LLC lifted its holdings in shares of Blackstone Secured Lending Fund by 2.5% in the 3rd quarter. Lido Advisors LLC now owns 257,631 shares of the company's stock worth $6,178,000 after buying an additional 6,184 shares during the period. AlphaCore Capital LLC increased its stake in shares of Blackstone Secured Lending Fund by 102.4% during the third quarter. AlphaCore Capital LLC now owns 557,553 shares of the company's stock valued at $13,370,000 after buying an additional 282,039 shares during the period. United Advisor Group LLC increased its stake in shares of Blackstone Secured Lending Fund by 9.2% during the third quarter. United Advisor Group LLC now owns 23,707 shares of the company's stock valued at $568,000 after buying an additional 2,000 shares during the period. Bayshore Capital Advisors LLC raised its holdings in shares of Blackstone Secured Lending Fund by 26.3% in the third quarter. Bayshore Capital Advisors LLC now owns 76,893 shares of the company's stock valued at $1,844,000 after acquiring an additional 16,000 shares in the last quarter. Finally, Kestra Advisory Services LLC raised its holdings in shares of Blackstone Secured Lending Fund by 109.7% in the third quarter. Kestra Advisory Services LLC now owns 57,855 shares of the company's stock valued at $1,387,000 after acquiring an additional 30,268 shares in the last quarter. 36.49% of the stock is currently owned by hedge funds and other institutional investors.

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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