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

Blackstone Secured Lending Fund (NYSE:BXSL) posted its quarterly earnings results on Tuesday. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.90 by $0.01, reports. Blackstone Secured Lending Fund had a return on equity of 13.49% and a net margin of 53.91%. The firm had revenue of $343.00 million during the quarter, compared to analysts’ expectations of $334.10 million.

Blackstone Secured Lending Fund Trading Up 0.5 %

Shares of Blackstone Secured Lending Fund stock opened at $31.03 on Thursday. The company has a market capitalization of $6.40 billion, a PE ratio of 8.62 and a beta of 0.42. Blackstone Secured Lending Fund has a 12 month low of $27.23 and a 12 month high of $32.67. The stock’s fifty day simple moving average is $30.40 and its 200 day simple moving average is $30.66.

Blackstone Secured Lending Fund Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 9.93%. The ex-dividend date is Tuesday, December 31st. Blackstone Secured Lending Fund’s payout ratio is presently 85.56%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. 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 report on Wednesday, August 14th. Wells Fargo & Company decreased 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, JPMorgan Chase & Co. increased their price objective on Blackstone Secured Lending Fund from $31.50 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Blackstone Secured Lending Fund currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.80.

Institutional Trading of Blackstone Secured Lending Fund

Several hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC acquired a new stake in shares of Blackstone Secured Lending Fund in the 3rd quarter valued at about $29,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Blackstone Secured Lending Fund in the 2nd quarter valued at about $32,000. Blue Trust Inc. raised its stake in shares of Blackstone Secured Lending Fund by 1,466.7% in the 3rd quarter. Blue Trust Inc. now owns 1,175 shares of the company’s stock valued at $36,000 after purchasing an additional 1,100 shares during the period. Farmers & Merchants Investments Inc. acquired a new stake in shares of Blackstone Secured Lending Fund in the 2nd quarter valued at about $37,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of Blackstone Secured Lending Fund in the 3rd quarter valued at about $72,000. Institutional investors and hedge funds own 36.49% of the company’s stock.

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).