Blackstone Secured Lending Fund (NYSE:BXSL) Releases Earnings Results, Misses Estimates By $0.01 EPS

Blackstone Secured Lending Fund (NYSE:BXSL) issued its quarterly earnings results on Wednesday. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.01), Zacks reports. Blackstone Secured Lending Fund had a return on equity of 14.06% and a net margin of 55.54%. The company had revenue of $327.06 million for the quarter, compared to analysts’ expectations of $310.23 million. During the same quarter in the previous year, the business earned $1.06 EPS.

Blackstone Secured Lending Fund Price Performance

NYSE:BXSL traded down $0.05 during trading hours on Friday, hitting $29.90. The stock had a trading volume of 610,468 shares, compared to its average volume of 926,807. The company has a 50 day simple moving average of $30.85 and a two-hundred day simple moving average of $30.54. The firm has a market capitalization of $5.75 billion, a price-to-earnings ratio of 7.97 and a beta of 0.44. Blackstone Secured Lending Fund has a one year low of $25.83 and a one year high of $32.67.

Blackstone Secured Lending Fund Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Monday, September 30th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 10.30%. The ex-dividend date of this dividend is Monday, September 30th. Blackstone Secured Lending Fund’s dividend payout ratio (DPR) is presently 82.13%.

Wall Street Analyst Weigh In

Several research firms have commented on BXSL. Wells Fargo & Company dropped their price objective on shares of Blackstone Secured Lending Fund from $32.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday. JPMorgan Chase & Co. lifted their price objective on shares of Blackstone Secured Lending Fund from $31.50 to $32.00 and gave the company an “overweight” rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Blackstone Secured Lending Fund presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.08.

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).