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

Blackstone Secured Lending Fund (NYSE:BXSL) announced a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.77 per share on Friday, April 25th. This represents a $3.08 annualized dividend and a dividend yield of 9.35%. The ex-dividend date of this dividend is Monday, March 31st.

Blackstone Secured Lending Fund has raised its dividend payment by an average of 79.8% per year over the last three years. Blackstone Secured Lending Fund has a dividend payout ratio of 98.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. 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 Performance

BXSL opened at $32.94 on Friday. Blackstone Secured Lending Fund has a one year low of $27.76 and a one year high of $34.64. The company has a market cap of $7.50 billion, a P/E ratio of 9.15 and a beta of 0.43. The business’s 50-day simple moving average is $33.17 and its 200-day simple moving average is $31.91.

Blackstone Secured Lending Fund (NYSE:BXSL) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.02). The company had revenue of $353.00 million during the quarter, compared to analysts’ expectations of $346.52 million. Blackstone Secured Lending Fund had a net margin of 53.91% and a return on equity of 13.15%. As a group, analysts predict that Blackstone Secured Lending Fund will post 3.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on BXSL shares. Keefe, Bruyette & Woods raised their price target on Blackstone Secured Lending Fund from $30.50 to $32.00 and gave the stock a “market perform” rating in a research note on Thursday, February 27th. JPMorgan Chase & Co. raised their target price on shares of Blackstone Secured Lending Fund from $33.00 to $33.50 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Truist Financial upped their price target on shares of Blackstone Secured Lending Fund from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, Wells Fargo & Company raised their price objective on shares of Blackstone Secured Lending Fund from $29.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Blackstone Secured Lending Fund currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.79.

Blackstone Secured Lending Fund Company Profile

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).