Blackstone Secured Lending Fund (NYSE:BXSL) Posts Earnings Results, Misses Expectations By $0.16 EPS

Posted by Brian Himes on Nov 4th, 2026

Blackstone Secured Lending Fund (NYSE:BXSL – Get Free Report) released its earnings results on Wednesday. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.16), FiscalAI reports. The business had revenue of $315.18 million for the quarter, compared to the consensus estimate of $317.81 million. Blackstone Secured Lending Fund had a net margin of 21.51% and a return on equity of 11.86%.

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

Dividend reset announced: BXSL will maintain its $0.77-per-share dividend for the fourth quarter, then reduce it to $0.60 in the first quarter of 2027, a roughly 9.5% annualized yield on quarter-end NAV. Third-quarter NII was $0.68 per share, and NAV fell $0.28 to $25.25.
The portfolio remains nearly 96% first-lien senior secured, with average borrower EBITDA growth of about 10% and interest coverage of 2.1x. Non-accruals increased to 2.1% of fair value from 1.8% last quarter, though the rate at cost declined to 2.8% from 3.6%.
Management highlighted active restructuring and recovery efforts, reporting 0.87x principal recovery, excluding coupons, on fully or substantially realized restructured positions. BXSL also recorded about $10.5 million in unrealized equity gains tied to the announced sale of Genuine Cable Group.
New investments and add-ons carried spreads above 500 basis points, and new investment yields were around 9% versus mid-to-high 8% yields on repayments. Management expects deal activity to pick up in the first half of 2027, while noting that refinancing roughly $3.2 billion of older, low-coupon notes may offset some benefit from higher base rates.

Blackstone Secured Lending Fund Stock Up 2.8%

Shares of NYSE:BXSL traded up $0.65 during midday trading on Wednesday, hitting $23.87. 3,084,227 shares of the stock traded hands, compared to its average volume of 2,030,101. The stock has a market capitalization of $5.56 billion, a PE ratio of 18.75 and a beta of 0.39. The business’s 50 day moving average is $24.16 and its two-hundred day moving average is $24.14. Blackstone Secured Lending Fund has a one year low of $22.47 and a one year high of $28.59.

Blackstone Secured Lending Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 23rd. Stockholders of record on Wednesday, September 30th were paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 12.9%. The ex-dividend date of this dividend was Wednesday, September 30th. Blackstone Secured Lending Fund’s dividend payout ratio is 242.52%.

Analysts Set New Price Targets

BXSL has been the subject of several analyst reports. Citizens Jmp initiated coverage on shares of Blackstone Secured Lending Fund in a research report on Monday, October 26th. They set a “market perform” rating for the company. Wall Street Zen upgraded Blackstone Secured Lending Fund from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. UBS Group boosted their target price on Blackstone Secured Lending Fund from $24.50 to $25.50 and gave the company a “neutral” rating in a research note on Tuesday, September 1st. Oppenheimer began coverage on Blackstone Secured Lending Fund in a report on Thursday, July 23rd. They set a “market perform” rating and a $25.00 target price for the company. Finally, Citigroup assumed coverage on Blackstone Secured Lending Fund in a research report on Monday, October 26th. They set a “market perform” rating on the stock. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Blackstone Secured Lending Fund presently has an average rating of “Hold” and a consensus target price of $24.89.

View Our Latest Analysis on Blackstone Secured Lending Fund

About Blackstone Secured Lending Fund

(Get Free Report)

Blackstone Secured Lending Fund (NYSE: BXSL) is a business development company that invests in privately owned middle-market companies. The fund seeks to generate current income and long-term capital appreciation primarily through investments in senior secured, floating-rate loans.

BXSL’s portfolio may also include second-lien loans, unsecured debt and equity investments. Its investments are generally made in companies across a range of industries, with an emphasis on businesses that have established operations and cash flows.