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

Blackstone Secured Lending Fund (NYSE:BXSL) announced a quarterly dividend on Thursday, May 9th, Wall Street Journal reports. Stockholders of record on Sunday, June 30th will be paid a dividend of 0.77 per share on Friday, July 26th. This represents a $3.08 annualized dividend and a dividend yield of 9.66%. The ex-dividend date is Friday, June 28th.

Blackstone Secured Lending Fund has a payout ratio of 91.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Blackstone Secured Lending Fund to earn $3.41 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 90.3%.

Blackstone Secured Lending Fund Stock Up 0.5 %

NYSE BXSL opened at $31.90 on Friday. Blackstone Secured Lending Fund has a 52-week low of $25.00 and a 52-week high of $32.67. The firm has a 50-day moving average price of $31.03 and a 200 day moving average price of $29.23. The stock has a market capitalization of $6.11 billion, a P/E ratio of 8.74 and a beta of 0.47.

Blackstone Secured Lending Fund (NYSE:BXSL) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. Blackstone Secured Lending Fund had a return on equity of 14.44% and a net margin of 53.50%. The business had revenue of $304.00 million during the quarter, compared to analysts’ expectations of $290.58 million. On average, equities research analysts expect that Blackstone Secured Lending Fund will post 3.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BXSL. Bank of America upgraded shares of Blackstone Secured Lending Fund from a “neutral” rating to a “buy” rating in a report on Monday, March 25th. Raymond James reissued a “market perform” rating on shares of Blackstone Secured Lending Fund in a report on Thursday, February 29th. Wells Fargo & Company boosted their price objective on shares of Blackstone Secured Lending Fund from $28.50 to $30.50 and gave the stock an “overweight” rating in a report on Monday, January 29th. Citigroup boosted their price objective on shares of Blackstone Secured Lending Fund from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Blackstone Secured Lending Fund from $30.00 to $31.50 and gave the stock an “overweight” rating in a report on Friday, April 12th. 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, Blackstone Secured Lending Fund has an average rating of “Moderate Buy” and an average price target of $30.92.

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).