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

Blackstone Secured Lending Fund (NYSE:BXSL) declared a quarterly dividend on Tuesday, November 12th,Zacks Dividends reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.77 per share on Friday, January 24th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 9.92%. The ex-dividend date of this dividend is Tuesday, December 31st.

Blackstone Secured Lending Fund has a dividend payout ratio of 94.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Blackstone Secured Lending Fund to earn $3.29 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 93.6%.

Blackstone Secured Lending Fund Stock Performance

BXSL stock traded up $0.19 on Wednesday, reaching $31.06. The company had a trading volume of 688,296 shares, compared to its average volume of 937,120. The company’s fifty day moving average is $30.38 and its 200 day moving average is $30.66. The company has a market cap of $6.41 billion, a P/E ratio of 8.66 and a beta of 0.42. Blackstone Secured Lending Fund has a 1 year low of $27.23 and a 1 year high of $32.67.

Blackstone Secured Lending Fund (NYSE:BXSL) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.01. The business had revenue of $343.00 million for the quarter, compared to the consensus estimate of $334.10 million. Blackstone Secured Lending Fund had a return on equity of 13.49% and a net margin of 53.91%. On average, sell-side analysts predict that Blackstone Secured Lending Fund will post 3.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BXSL. Wells Fargo & Company lowered their price target on shares of Blackstone Secured Lending Fund from $32.00 to $31.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. lifted their target price on shares of Blackstone Secured Lending Fund from $31.50 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $33.00 price target on shares of Blackstone Secured Lending Fund in a research note on Wednesday, August 14th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Blackstone Secured Lending Fund currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.80.

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).