Blackstone Secured Lending Fund (BXSL) to Issue Quarterly Dividend of $0.77 on July 26th

Blackstone Secured Lending Fund (NYSE:BXSL) announced a quarterly dividend on Wednesday, May 8th, 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 9.61%. The ex-dividend date of this dividend is Friday, June 28th.

Blackstone Secured Lending Fund has a payout ratio of 91.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities 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 Trading Up 0.5 %

Shares of NYSE BXSL opened at $32.05 on Friday. The stock has a market cap of $6.14 billion, a P/E ratio of 8.74 and a beta of 0.47. The stock has a 50 day moving average of $31.03 and a two-hundred day moving average of $29.23. Blackstone Secured Lending Fund has a twelve month low of $25.00 and a twelve month high of $32.67.

Blackstone Secured Lending Fund (NYSE:BXSL) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Blackstone Secured Lending Fund had a net margin of 53.50% and a return on equity of 14.44%. The business had revenue of $304.00 million for the quarter, compared to analyst estimates of $290.58 million. As a group, research analysts predict that Blackstone Secured Lending Fund will post 3.63 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on BXSL. JPMorgan Chase & Co. upped their target price on shares of Blackstone Secured Lending Fund from $30.00 to $31.50 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Bank of America upgraded Blackstone Secured Lending Fund from a “neutral” rating to a “buy” rating in a research report on Monday, March 25th. Raymond James restated a “market perform” rating on shares of Blackstone Secured Lending Fund in a research report on Thursday, February 29th. Wells Fargo & Company boosted their price target on Blackstone Secured Lending Fund from $28.50 to $30.50 and gave the company an “overweight” rating in a report on Monday, January 29th. Finally, Citigroup lifted their price objective on Blackstone Secured Lending Fund from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. One equities 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.92.

About Blackstone Secured Lending Fund

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).