Blackstone Secured Lending Fund (NYSE:BXSL) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Blackstone Secured Lending Fund (NYSE:BXSL) issued its quarterly earnings data on Thursday. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.02, Zacks reports. Blackstone Secured Lending Fund had a net margin of 31.63% and a return on equity of 11.65%. The company had revenue of $254.64 million during the quarter, compared to the consensus estimate of $353.15 million.

Here are the key takeaways from Blackstone Secured Lending Fund’s conference call:

• BXSL generated $0.77 per share of net investment income in Q1, fully covering the dividend and the firm reaffirmed the quarterly payout while retaining roughly $1.80 of undistributed NII per share to reinvest or bridge distributions.
• NAV fell to $26.26 (down ~2.5% q/q) driven by spread widening and marks, and the quarter added three new non-accruals (Medallia, Affordable Care, Paramount) that, together with software markdowns tied to AI concerns, concentrated much of the markdown activity.
• Repayment activity was strong—~$450M repaid in Q1 with visibility to over $600M near-term—and several marked-down positions were repaid at par (e.g., SelectQuote, Colony Hardware, AEVEX), providing realizations that can be redeployed or used for share buybacks.
• BXSL highlights defensive positioning — ~98% first‑lien exposure, ~50% average junior capital cushion, rigorous private‑lending documentation, high embedded income, and Blackstone’s scale/AI and digital‑infrastructure expertise (e.g., GPU financings) — which management says supports recovery prospects and long‑term outperformance.

Blackstone Secured Lending Fund Trading Down 0.5%

Shares of BXSL traded down $0.13 during midday trading on Friday, reaching $24.23. The stock had a trading volume of 2,865,115 shares, compared to its average volume of 2,786,223. The firm has a 50 day simple moving average of $24.03 and a 200-day simple moving average of $25.58. Blackstone Secured Lending Fund has a one year low of $22.47 and a one year high of $32.81. The firm has a market cap of $5.63 billion, a PE ratio of 12.69 and a beta of 0.40.

Blackstone Secured Lending Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Tuesday, June 30th will be given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 12.7%. The ex-dividend date of this dividend is Tuesday, June 30th. Blackstone Secured Lending Fund’s dividend payout ratio (DPR) is 161.26%.

Trending Headlines about Blackstone Secured Lending Fund

Here are the key news stories impacting Blackstone Secured Lending Fund this week:

• Positive Sentiment: BXSL reported first-quarter EPS of $0.77, topping analyst estimates of $0.75, and said net investment income fully covered its quarterly dividend, reinforcing the fund’s ability to support its payout. Blackstone Secured Lending Fund Reports First-Quarter 2026 Results
• Positive Sentiment: The board declared a quarterly dividend of $0.77 per share, which supports BXSL’s income-focused appeal for investors looking for yield. Blackstone Secured Lending Fund Reports First-Quarter 2026 Results
• Neutral Sentiment: BXSL’s first-quarter revenue came in below expectations even as EPS beat estimates, leaving the earnings release somewhat mixed rather than uniformly strong. MarketBeat BXSL Earnings Summary
• Neutral Sentiment: Wells Fargo cut its price target on BXSL to $22 from $24 and kept an underweight rating, signaling concern that the stock may be overvalued relative to current fundamentals. Benzinga: Wells Fargo Cuts BXSL Price Target
• Negative Sentiment: News reports highlighted widening portfolio discount and rising unrealized losses, raising worries about asset quality and future book value pressure. Reuters: Blackstone Secured Lending portfolio discount widens as unrealized losses rise

Institutional Trading of Blackstone Secured Lending Fund

A number of hedge funds have recently modified their holdings of BXSL. Osterweis Capital Management Inc. acquired a new stake in shares of Blackstone Secured Lending Fund during the 4th quarter worth about $33,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Blackstone Secured Lending Fund during the 4th quarter worth about $70,000. Ankerstar Wealth LLC acquired a new stake in shares of Blackstone Secured Lending Fund during the 4th quarter worth about $79,000. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Blackstone Secured Lending Fund during the 4th quarter worth about $167,000. Finally, Prosperity Consulting Group LLC acquired a new stake in shares of Blackstone Secured Lending Fund during the 3rd quarter worth about $214,000. Institutional investors and hedge funds own 36.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Truist Financial lowered their price objective on shares of Blackstone Secured Lending Fund from $33.00 to $30.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. B. Riley Financial downgraded shares of Blackstone Secured Lending Fund from a “buy” rating to a “neutral” rating and set a $24.50 target price for the company. in a research report on Thursday, April 9th. JPMorgan Chase & Co. decreased their target price on shares of Blackstone Secured Lending Fund from $27.00 to $24.00 and set an “overweight” rating for the company in a research report on Friday, March 13th. Wells Fargo & Company decreased their target price on shares of Blackstone Secured Lending Fund from $24.00 to $22.00 and set an “underweight” rating for the company in a research report on Friday. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Blackstone Secured Lending Fund from $27.00 to $26.00 and set an “outperform” rating for the company in a research report on Thursday, April 16th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Blackstone Secured Lending Fund presently has a consensus rating of “Hold” and a consensus price target of $26.03.

Blackstone Secured Lending Fund Company Profile

Blackstone Secured Lending Fund (NYSE: BXSL) is a closed-end management investment company sponsored by Blackstone Credit, the credit-oriented business of Blackstone Inc Launched in May 2020, BXSL seeks to deliver attractive risk-adjusted returns primarily through current income and, to a lesser extent, capital appreciation. The fund raises capital from institutional and retail investors and deploys it into a diversified portfolio of senior secured loans and other credit instruments.

The fund’s principal investment focus is on first-lien senior secured loans and unitranche debt extended to middle-market companies across North America.