Blackstone Secured Lending Fund (BXSL) to Distribute Quarterly Dividend of $0.77 on January 22nd

Blackstone Secured Lending Fund (NYSE:BXSL) declared a quarterly dividend on Wednesday, November 4th. Shareholders of record on Thursday, December 31st will be paid a dividend of $0.77 per share on Friday, January 22nd. This represents a $3.08 dividend on an annualized basis and a yield of 12.8%. The ex-dividend date is Thursday, December 31st.

Blackstone Secured Lending Fund has a 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. 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 Price Performance

Shares of NYSE:BXSL opened at $24.13 on Friday. Blackstone Secured Lending Fund has a 1 year low of $22.47 and a 1 year high of $28.59. The company has a market capitalization of $5.62 billion, a PE ratio of 20.11 and a beta of 0.39. The business has a fifty day moving average price of $24.13 and a two-hundred day moving average price of $24.11.

Blackstone Secured Lending Fund (NYSE:BXSL) last released its earnings results on Wednesday, November 4th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.02. The company had revenue of $315.18 million for the quarter, compared to analysts’ expectations of $317.81 million. Blackstone Secured Lending Fund had a return on equity of 11.44% and a net margin of 21.03%. Sell-side analysts anticipate that Blackstone Secured Lending Fund will post 2.85 earnings per share for the current year.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Werba Rubin Papier Wealth Management increased its holdings in Blackstone Secured Lending Fund by 3.3% during the 3rd quarter. Werba Rubin Papier Wealth Management now owns 30,111 shares of the company’s stock worth $722,000 after acquiring an additional 961 shares during the period. International Private Wealth Advisors LLC boosted its holdings in Blackstone Secured Lending Fund by 46.1% in the 3rd quarter. International Private Wealth Advisors LLC now owns 57,410 shares of the company’s stock valued at $1,377,000 after purchasing an additional 18,114 shares during the period. Lunate Capital Ltd boosted its holdings in Blackstone Secured Lending Fund by 27.9% in the 3rd quarter. Lunate Capital Ltd now owns 1,280,180 shares of the company’s stock valued at $30,699,000 after purchasing an additional 279,362 shares during the period. Lido Advisors LLC grew its position in shares of Blackstone Secured Lending Fund by 2.5% during the 3rd quarter. Lido Advisors LLC now owns 257,631 shares of the company’s stock valued at $6,178,000 after purchasing an additional 6,184 shares in the last quarter. Finally, AlphaCore Capital LLC grew its position in shares of Blackstone Secured Lending Fund by 102.4% during the 3rd quarter. AlphaCore Capital LLC now owns 557,553 shares of the company’s stock valued at $13,370,000 after purchasing an additional 282,039 shares in the last quarter. 36.49% of the stock is currently owned by 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.