Blackstone Secured Lending Fund (NYSE:BXSL) Issues Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Blackstone Secured Lending Fund (NYSE:BXSL) issued its quarterly earnings data on Wednesday. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.01, FiscalAI reports. Blackstone Secured Lending Fund had a net margin of 42.38% and a return on equity of 11.85%. The firm had revenue of $196.54 million for the quarter, compared to analyst estimates of $359.59 million.

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

• BXSL reported strong quarterly results with net investment income of $0.80 per share (11.8% annualized ROE) and a $0.77 distribution that was 104% covered, producing a 9.6% net return for the year and an 11.4% distribution yield on NAV.
• Management was highly active—funding ~$1.0B, committing ~$900M, growing the portfolio to 316 companies, and saying BXCI has over $40 billion of dry powder to deploy into direct lending opportunities.
• Portfolio credit fundamentals remain healthy, with the top ~90% of names showing ~9% EBITDA growth, >2x interest coverage, an average mark near 99, and low non-accruals (~0.6% at cost).
• Marks were concentrated in a few underperformers—most notably Medallia (now marked to 77.75) and the bottom 10% averaging a mark of 82—creating concentrated downside risk in a small subset of the portfolio.
• Management has $2.5B of liquidity, a board-approved $250M buyback program, and visibility to ~$550M of near-term repayments (with up to ~$2B possible over the year), and will opportunistically allocate between new loans, repurchases, or deleveraging.

Blackstone Secured Lending Fund Trading Down 1.6%

Shares of BXSL stock traded down $0.40 on Thursday, reaching $24.25. The company had a trading volume of 291,055 shares, compared to its average volume of 2,298,298. The stock has a market cap of $5.61 billion, a PE ratio of 9.11 and a beta of 0.41. The company has a 50-day moving average of $25.82 and a 200-day moving average of $27.00. Blackstone Secured Lending Fund has a 12 month low of $23.31 and a 12 month high of $34.17.

Blackstone Secured Lending Fund Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 24th. Stockholders of record on Tuesday, March 31st will be paid a $0.77 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.08 dividend on an annualized basis and a dividend yield of 12.7%. Blackstone Secured Lending Fund’s dividend payout ratio is 115.79%.

Analysts Set New Price Targets

BXSL has been the topic of several research analyst reports. Keefe, Bruyette & Woods decreased their price target on shares of Blackstone Secured Lending Fund from $29.00 to $27.00 and set an “outperform” rating on the stock in a research note on Thursday. Wall Street Zen upgraded Blackstone Secured Lending Fund from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Bank of America lowered their target price on Blackstone Secured Lending Fund from $33.50 to $29.00 and set a “buy” rating for the company in a research note on Friday, November 28th. Wells Fargo & Company lowered Blackstone Secured Lending Fund from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $26.00 to $24.00 in a research note on Wednesday, January 7th. Finally, B. Riley Financial decreased their price target on Blackstone Secured Lending Fund from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Wednesday, November 12th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $28.88.

Key Stories Impacting Blackstone Secured Lending Fund

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

• Positive Sentiment: Company announced a $250M buyback authorization and flagged $550M of scheduled repayments, signaling capital return and balance-sheet flexibility that can support the dividend and shares. Blackstone Secured Lending Fund signals $550M repayments and $250M buyback authorization
• Positive Sentiment: Quarterly dividend declared: $0.77 per share (record Mar 31; payable Apr 24), implying a ~12.5% yield — attractive to income-focused investors and supportive of yield-driven demand.
• Positive Sentiment: Q4 net investment income/EPS of $0.80 beat consensus by $0.01 and management said NII fully covered the dividend; this reduces near-term dividend sustainability concerns. Business Wire: Q4 and FY2025 results
• Positive Sentiment: Brokerages’ average recommendation is “Moderate Buy,” which may bolster investor sentiment and provide buying interest. BXSL Given Average Recommendation of “Moderate Buy”
• Neutral Sentiment: Management hosted an earnings call and released transcripts/slide deck with details on portfolio composition, pipeline and ROE (11.8%) — useful for investors doing a deeper read. Q4 2025 earnings call transcript
• Negative Sentiment: Top-line revenue reported (~$196.5M) materially missed some street estimates (~$359.6M reported by some services), which could spark questions about fee and financing activity and weigh on sentiment. MarketBeat: Q4 earnings and materials
• Negative Sentiment: BDC sector weakness and recent selloff in business development companies create headwinds that can pressure BXSL even when company-specific news is mixed. Investing.com: BDC selloff context

Institutional Investors Weigh In On Blackstone Secured Lending Fund

Several large investors have recently bought and sold shares of the company. Osterweis Capital Management Inc. acquired a new stake in Blackstone Secured Lending Fund in the fourth quarter worth $33,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Blackstone Secured Lending Fund in the 4th quarter valued at $70,000. Ankerstar Wealth LLC acquired a new stake in Blackstone Secured Lending Fund during the 4th quarter worth $79,000. Garton & Associates Financial Advisors LLC acquired a new stake in Blackstone Secured Lending Fund during the 4th quarter worth $167,000. Finally, Prosperity Consulting Group LLC bought a new position in Blackstone Secured Lending Fund during the third quarter worth about $214,000. Institutional investors own 36.49% of the company’s stock.

Blackstone Secured Lending Fund Company Profile

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.