Blackstone Secured Lending Fund (NYSE:BXSL – Get Free Report) declared a quarterly dividend on Thursday, August 6th. Investors of record on Wednesday, September 30th will be given a dividend of 0.77 per share on Friday, October 23rd. This represents a c) annualized dividend and a dividend yield of 12.7%. The ex-dividend date is Wednesday, September 30th.
Blackstone Secured Lending Fund has a payout ratio of 101.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Blackstone Secured Lending Fund to earn $2.57 per share next year, which means the company may not be able to cover its $3.08 annual dividend with an expected future payout ratio of 119.8%.
Blackstone Secured Lending Fund Trading Up 3.6%
NYSE:BXSL traded up $0.83 during mid-day trading on Thursday, hitting $24.17. 2,680,882 shares of the company’s stock traded hands, compared to its average volume of 2,260,685. The firm has a 50 day moving average of $23.58 and a two-hundred day moving average of $24.08. The firm has a market capitalization of $5.62 billion, a price-to-earnings ratio of 12.66 and a beta of 0.38. Blackstone Secured Lending Fund has a 12 month low of $22.47 and a 12 month high of $30.69.
Insider Activity
In other Blackstone Secured Lending Fund news, insider Robert J. Bass bought 2,095 shares of Blackstone Secured Lending Fund stock in a transaction dated Tuesday, May 12th. The shares were bought at an average price of $23.80 per share, with a total value of $49,861.00. Following the purchase, the insider owned 25,107 shares of the company’s stock, valued at $597,546.60. This trade represents a 9.10% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.11% of the stock is owned by company insiders.
Hedge Funds Weigh In On Blackstone Secured Lending Fund
Several hedge funds have recently added to or reduced their stakes in BXSL. Bank of America Corp DE boosted its holdings in Blackstone Secured Lending Fund by 11.9% during the second quarter. Bank of America Corp DE now owns 7,820,346 shares of the company’s stock worth $240,476,000 after buying an additional 832,179 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Blackstone Secured Lending Fund by 112.1% in the 4th quarter. Van ECK Associates Corp now owns 5,149,915 shares of the company’s stock valued at $135,597,000 after acquiring an additional 2,721,843 shares during the period. UBS Group AG raised its position in shares of Blackstone Secured Lending Fund by 112.5% in the 4th quarter. UBS Group AG now owns 4,731,343 shares of the company’s stock valued at $124,576,000 after acquiring an additional 2,504,617 shares during the period. Strs Ohio bought a new position in Blackstone Secured Lending Fund during the 1st quarter worth approximately $94,760,000. Finally, Northeast Financial Consultants Inc boosted its stake in Blackstone Secured Lending Fund by 6.9% during the 2nd quarter. Northeast Financial Consultants Inc now owns 3,359,523 shares of the company’s stock worth $103,305,000 after acquiring an additional 216,835 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.
Read More
- Five stocks we like better than Blackstone Secured Lending Fund
- Sandisk Just Delivered a Blowout Quarter—Here’s Why the Stock Is Falling
- 4 Oil and Gas ETF Plays as Prices Stay Sky-High
- What Tesla Stands to Lose If It Walks Away From China
- Disney Sets Up for a Magical Year in 2027
Receive News & Ratings for Blackstone Secured Lending Fund Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackstone Secured Lending Fund and related companies with MarketBeat.com's FREE daily email newsletter.
