Blackstone Secured Lending Fund (NYSE:BXSL) Posts Earnings Results, Beats Expectations By $0.02 EPS

Blackstone Secured Lending Fund (NYSE:BXSL) issued its quarterly earnings data on Thursday. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02, Zacks reports. Blackstone Secured Lending Fund had a return on equity of 11.65% and a net margin of 31.63%.The company had revenue of $254.64 million for the quarter, compared to the consensus estimate of $353.15 million.

Here are the key takeaways from Blackstone Secured Lending Fund’s conference call:

• BXSL generated $0.77 per share of net investment income in Q1, fully covering the dividend and the firm reaffirmed the quarterly payout while retaining roughly $1.80 of undistributed NII per share to reinvest or bridge distributions.
• NAV fell to $26.26 (down ~2.5% q/q) driven by spread widening and marks, and the quarter added three new non-accruals (Medallia, Affordable Care, Paramount) that, together with software markdowns tied to AI concerns, concentrated much of the markdown activity.
• Repayment activity was strong—~$450M repaid in Q1 with visibility to over $600M near-term—and several marked-down positions were repaid at par (e.g., SelectQuote, Colony Hardware, AEVEX), providing realizations that can be redeployed or used for share buybacks.
• BXSL highlights defensive positioning — ~98% first‑lien exposure, ~50% average junior capital cushion, rigorous private‑lending documentation, high embedded income, and Blackstone’s scale/AI and digital‑infrastructure expertise (e.g., GPU financings) — which management says supports recovery prospects and long‑term outperformance.

Blackstone Secured Lending Fund Trading Down 0.5%

Shares of BXSL stock traded down $0.13 during mid-day trading on Friday, reaching $24.23. The stock had a trading volume of 2,865,115 shares, compared to its average volume of 2,786,223. Blackstone Secured Lending Fund has a 1-year low of $22.47 and a 1-year high of $32.81. The firm has a market cap of $5.63 billion, a price-to-earnings ratio of 12.69 and a beta of 0.40. The business’s fifty day moving average is $24.03 and its 200-day moving average is $25.58.

Blackstone Secured Lending Fund Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 12.7%. The ex-dividend date is Tuesday, June 30th. Blackstone Secured Lending Fund’s payout ratio is presently 161.26%.

Blackstone Secured Lending Fund News Roundup

Here are the key news stories impacting Blackstone Secured Lending Fund this week:

• Positive Sentiment: BXSL reported first-quarter EPS of $0.77, topping analyst estimates of $0.75, and said net investment income fully covered its quarterly dividend, reinforcing the fund’s ability to support its payout. Blackstone Secured Lending Fund Reports First-Quarter 2026 Results
• Positive Sentiment: The board declared a quarterly dividend of $0.77 per share, which supports BXSL’s income-focused appeal for investors looking for yield. Blackstone Secured Lending Fund Reports First-Quarter 2026 Results
• Neutral Sentiment: BXSL’s first-quarter revenue came in below expectations even as EPS beat estimates, leaving the earnings release somewhat mixed rather than uniformly strong. MarketBeat BXSL Earnings Summary
• Neutral Sentiment: Wells Fargo cut its price target on BXSL to $22 from $24 and kept an underweight rating, signaling concern that the stock may be overvalued relative to current fundamentals. Benzinga: Wells Fargo Cuts BXSL Price Target
• Negative Sentiment: News reports highlighted widening portfolio discount and rising unrealized losses, raising worries about asset quality and future book value pressure. Reuters: Blackstone Secured Lending portfolio discount widens as unrealized losses rise

Analyst Ratings Changes

BXSL has been the subject of a number of recent research reports. Wells Fargo & Company reduced their target price on shares of Blackstone Secured Lending Fund from $24.00 to $22.00 and set an “underweight” rating for the company in a report on Friday. Keefe, Bruyette & Woods cut their price objective on shares of Blackstone Secured Lending Fund from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report on Thursday, April 16th. Truist Financial reduced their price objective on shares of Blackstone Secured Lending Fund from $33.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. JPMorgan Chase & Co. decreased their target price on shares of Blackstone Secured Lending Fund from $27.00 to $24.00 and set an “overweight” rating for the company in a research report on Friday, March 13th. Finally, UBS Group lowered their target price on shares of Blackstone Secured Lending Fund from $27.50 to $24.75 and set a “neutral” rating for the company in a research note on Friday, March 13th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $26.03.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Walter & Keenan Wealth Management LLC IN ADV raised its position in Blackstone Secured Lending Fund by 1.8% during the 4th quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 25,632 shares of the company’s stock worth $675,000 after buying an additional 443 shares during the last quarter. Wealthspire Advisors LLC boosted its holdings in shares of Blackstone Secured Lending Fund by 2.4% in the 4th quarter. Wealthspire Advisors LLC now owns 19,343 shares of the company’s stock valued at $509,000 after acquiring an additional 461 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of Blackstone Secured Lending Fund by 3.4% in the 3rd quarter. National Bank of Canada FI now owns 15,030 shares of the company’s stock valued at $392,000 after acquiring an additional 494 shares during the last quarter. Natixis Advisors LLC increased its stake in shares of Blackstone Secured Lending Fund by 4.6% in the third quarter. Natixis Advisors LLC now owns 12,094 shares of the company’s stock worth $315,000 after acquiring an additional 528 shares during the period. Finally, Vienna Asset Management LLC raised its holdings in shares of Blackstone Secured Lending Fund by 5.5% during the third quarter. Vienna Asset Management LLC now owns 23,021 shares of the company’s stock worth $600,000 after purchasing an additional 1,206 shares during the last quarter. Institutional investors and hedge funds own 36.49% of the company’s stock.

About Blackstone Secured Lending Fund

Blackstone Secured Lending Fund (NYSE: BXSL) is a closed-end management investment company sponsored by Blackstone Credit, the credit-oriented business of Blackstone Inc Launched in May 2020, BXSL seeks to deliver attractive risk-adjusted returns primarily through current income and, to a lesser extent, capital appreciation. The fund raises capital from institutional and retail investors and deploys it into a diversified portfolio of senior secured loans and other credit instruments.

The fund’s principal investment focus is on first-lien senior secured loans and unitranche debt extended to middle-market companies across North America.