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. Shareholders 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 yield of 9.92%. The ex-dividend date is Tuesday, December 31st.

Blackstone Secured Lending Fund has a dividend payout ratio of 94.8% meaning 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 Trading Up 0.6 %

Shares of Blackstone Secured Lending Fund stock traded up $0.19 during trading on Wednesday, reaching $31.06. The company’s stock had a trading volume of 688,296 shares, compared to its average volume of 937,120. The firm has a market cap of $6.41 billion, a PE ratio of 8.66 and a beta of 0.42. The company has a 50-day moving average price of $30.38 and a two-hundred day moving average price of $30.66. Blackstone Secured Lending Fund has a fifty-two week low of $27.23 and a fifty-two week high of $32.67.

Blackstone Secured Lending Fund (NYSE:BXSL) last announced its earnings results on Tuesday, November 12th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.01. The business had revenue of $343.00 million during the quarter, compared to the consensus estimate of $334.10 million. Blackstone Secured Lending Fund had a net margin of 53.91% and a return on equity of 13.49%. On average, analysts predict that Blackstone Secured Lending Fund will post 3.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on BXSL shares. Royal Bank of Canada restated an “outperform” rating and set a $33.00 price target on shares of Blackstone Secured Lending Fund in a research note on Wednesday, August 14th. Wells Fargo & Company reduced their target price on shares of Blackstone Secured Lending Fund from $32.00 to $31.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of Blackstone Secured Lending Fund from $31.50 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Blackstone Secured Lending Fund currently has an average rating of “Moderate Buy” and an average price target of $31.80.

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).