Blackstone Secured Lending Fund (NYSE:BXSL) Issues Earnings Results

Blackstone Secured Lending Fund (NYSE:BXSL) posted its earnings results on Wednesday. The company reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.02), Zacks reports. The company had revenue of $353.00 million during the quarter, compared to the consensus estimate of $346.52 million. Blackstone Secured Lending Fund had a net margin of 53.91% and a return on equity of 13.15%.

Blackstone Secured Lending Fund Stock Performance

NYSE BXSL traded up $0.50 on Friday, hitting $33.63. 331,190 shares of the stock traded hands, compared to its average volume of 1,041,051. The business’s fifty day moving average is $32.98 and its two-hundred day moving average is $31.48. Blackstone Secured Lending Fund has a 12 month low of $27.76 and a 12 month high of $34.64. The firm has a market capitalization of $7.53 billion, a price-to-earnings ratio of 9.34 and a beta of 0.43.

Blackstone Secured Lending Fund Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.77 per share. The ex-dividend date is Monday, March 31st. This represents a $3.08 annualized dividend and a dividend yield of 9.16%. Blackstone Secured Lending Fund’s payout ratio is currently 85.56%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on Blackstone Secured Lending Fund from $33.00 to $33.50 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Truist Financial increased their target price on shares of Blackstone Secured Lending Fund from $33.00 to $35.00 and gave the company a “buy” rating in a report on Thursday. Wells Fargo & Company boosted their price target on shares of Blackstone Secured Lending Fund from $29.00 to $31.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Keefe, Bruyette & Woods increased their price objective on shares of Blackstone Secured Lending Fund from $30.50 to $32.00 and gave the company a “market perform” rating in a research note on Thursday. Finally, Compass Point cut their target price on Blackstone Secured Lending Fund from $33.50 to $32.25 and set a “buy” rating on the stock in a research note on Friday, November 15th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.54.

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).