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

Blackstone Secured Lending Fund (NYSE:BXSL) announced 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 9.93%. The ex-dividend date is Tuesday, December 31st.

Blackstone Secured Lending Fund has a dividend payout ratio of 94.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. 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

Shares of BXSL stock opened at $31.03 on Thursday. Blackstone Secured Lending Fund has a fifty-two week low of $27.23 and a fifty-two week high of $32.67. The firm has a market capitalization of $6.40 billion, a PE ratio of 8.62 and a beta of 0.42. The stock’s 50-day simple moving average is $30.40 and its 200-day simple moving average is $30.66.

Blackstone Secured Lending Fund (NYSE:BXSL) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.01. The firm had revenue of $343.00 million for the quarter, compared to analyst estimates of $334.10 million. Blackstone Secured Lending Fund had a net margin of 53.91% and a return on equity of 13.49%. Sell-side analysts forecast that Blackstone Secured Lending Fund will post 3.56 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BXSL. JPMorgan Chase & Co. boosted their price objective on Blackstone Secured Lending Fund from $31.50 to $32.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Wells Fargo & Company lowered their price objective on Blackstone Secured Lending Fund from $32.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $33.00 target price on shares of Blackstone Secured Lending Fund in a report on Wednesday, August 14th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Blackstone Secured Lending Fund has an average rating of “Moderate Buy” and an average target price of $31.80.

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).