Blackstone Secured Lending Fund (NYSE:BXSL) Plans Quarterly Dividend of $0.77

Blackstone Secured Lending Fund (NYSE:BXSL) announced a quarterly dividend on Monday, November 10th. Shareholders of record on Wednesday, December 31st will be given a dividend of 0.77 per share on Friday, January 23rd. This represents a c) annualized dividend and a yield of 11.6%. The ex-dividend date is Wednesday, December 31st.

Blackstone Secured Lending Fund has a payout ratio of 101.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Blackstone Secured Lending Fund to earn $3.30 per share next year, which means the company should continue to be able to cover its $3.08 annual dividend with an expected future payout ratio of 93.3%.

Blackstone Secured Lending Fund Price Performance

Blackstone Secured Lending Fund stock traded up $0.16 during mid-day trading on Monday, reaching $26.65. 1,862,232 shares of the company traded hands, compared to its average volume of 2,052,622. The firm’s fifty day moving average is $27.03 and its two-hundred day moving average is $29.60. The company has a market capitalization of $6.14 billion, a price-to-earnings ratio of 9.38 and a beta of 0.42. Blackstone Secured Lending Fund has a fifty-two week low of $24.85 and a fifty-two week high of $34.64.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BXSL. Zacks Research raised Blackstone Secured Lending Fund from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. JPMorgan Chase & Co. cut their price objective on Blackstone Secured Lending Fund from $30.50 to $29.00 and set an “overweight” rating on the stock in a report on Wednesday, October 1st. B. Riley began coverage on Blackstone Secured Lending Fund in a research note on Thursday, September 25th. They issued a “buy” rating and a $32.00 price objective for the company. Wells Fargo & Company lifted their target price on Blackstone Secured Lending Fund from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Thursday, August 7th. Finally, Keefe, Bruyette & Woods upgraded shares of Blackstone Secured Lending Fund from a “market perform” rating to an “outperform” rating and cut their price target for the stock from $31.00 to $30.00 in a report on Monday, October 6th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Blackstone Secured Lending Fund currently has an average rating of “Moderate Buy” and an average target price of $30.78.

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).