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

Blackstone Secured Lending Fund (NYSE:BXSL) announced a quarterly dividend on Tuesday, November 12th,Zacks Dividends reports. Shareholders of record on Tuesday, December 31st will be paid a dividend of 0.77 per share on Friday, January 24th. This represents a $3.08 dividend on an annualized basis and a yield of 9.26%. The ex-dividend date of this dividend is Tuesday, December 31st.

Blackstone Secured Lending Fund has a dividend payout ratio of 94.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities 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 Trading Up 0.2 %

Shares of NYSE:BXSL opened at $33.27 on Friday. The stock has a market cap of $7.21 billion, a PE ratio of 9.24 and a beta of 0.43. The stock’s fifty day simple moving average is $31.67 and its two-hundred day simple moving average is $30.80. Blackstone Secured Lending Fund has a 1-year low of $27.47 and a 1-year high of $33.48.

Analyst Ratings Changes

Several equities research analysts have commented on BXSL shares. Compass Point decreased their price objective on shares of Blackstone Secured Lending Fund from $33.50 to $32.25 and set a “buy” rating for the company in a research note on Friday, November 15th. Wells Fargo & Company downgraded Blackstone Secured Lending Fund from an “overweight” rating to an “equal weight” rating and set a $29.00 price target for the company. in a research report on Monday, December 2nd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $31.54.

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).