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

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

Blackstone Secured Lending Fund Stock Down 0.2 %

Shares of NYSE:BXSL traded down $0.05 during mid-day trading on Friday, reaching $29.90. 610,468 shares of the stock were exchanged, compared to its average volume of 926,807. The stock’s 50 day simple moving average is $30.85 and its 200-day simple moving average is $30.54. Blackstone Secured Lending Fund has a one year low of $25.83 and a one year high of $32.67. The company has a market cap of $5.75 billion, a P/E ratio of 7.97 and a beta of 0.44.

Blackstone Secured Lending Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, September 30th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.08 annualized dividend and a dividend yield of 10.30%. Blackstone Secured Lending Fund’s dividend payout ratio is currently 82.13%.

Analyst Ratings Changes

Several brokerages recently commented on BXSL. Wells Fargo & Company dropped 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 note on Thursday. JPMorgan Chase & Co. lifted 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. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Blackstone Secured Lending Fund has an average rating of “Moderate Buy” and an average price target of $31.08.

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).