Blackstone Secured Lending Fund (NYSE:BXSL) Posts Earnings Results, Beats Estimates By $0.09 EPS

Blackstone Secured Lending Fund (NYSE:BXSL) announced its quarterly earnings results on Thursday. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.09, Zacks reports. Blackstone Secured Lending Fund had a net margin of 21.51% and a return on equity of 11.74%. The firm had revenue of $233.30 million during the quarter, compared to the consensus estimate of $326.72 million.

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

• Repayments accelerated, reaching an annualized 21% of the portfolio at fair value versus 13% in Q1, generating more than $700 million of liquidity and potential pull-to-par gains as assets mature.
• BXSL deployed over $300 million into five new borrowers, with management citing lower leverage, lower loan-to-values and wider spreads; executives also remain constructive on improving M&A and deal activity.
• Net investment income was $0.75 per share, below the $0.77 dividend, and management said it is using undistributed earnings as a temporary bridge while evaluating a lower long-term dividend amid lower base rates and maturing investments.
• NAV per share declined 2.8% to $25.53, driven by $0.59 per share of unrealized losses and $0.12 of realized losses; the portfolio mark fell to 95.2 amid spread widening and weakness in selected assets, although non-accruals improved and no new assets were added.

Blackstone Secured Lending Fund Trading Up 1.6%

Shares of NYSE BXSL traded up $0.39 during midday trading on Friday, hitting $24.54. The company’s stock had a trading volume of 2,088,776 shares, compared to its average volume of 1,593,497. Blackstone Secured Lending Fund has a 12-month low of $22.47 and a 12-month high of $30.69. The firm has a market cap of $5.71 billion, a P/E ratio of 19.32 and a beta of 0.38. The business’s 50 day moving average is $23.61 and its two-hundred day moving average is $24.07.

Blackstone Secured Lending Fund Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Wednesday, September 30th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 12.6%. The ex-dividend date is Wednesday, September 30th. Blackstone Secured Lending Fund’s dividend payout ratio is presently 161.26%.

Insider Transactions at Blackstone Secured Lending Fund

In other Blackstone Secured Lending Fund news, insider Robert J. Bass acquired 2,095 shares of the business’s stock in a transaction on 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 transaction, the insider directly owned 25,107 shares of the company’s stock, valued at $597,546.60. The trade was a 9.10% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.11% of the stock is currently owned by insiders.

Institutional Trading of Blackstone Secured Lending Fund

A number of large investors have recently made changes to their positions in BXSL. Empowered Funds LLC lifted its holdings in Blackstone Secured Lending Fund by 139.9% during the 1st quarter. Empowered Funds LLC now owns 18,340 shares of the company’s stock valued at $593,000 after buying an additional 10,696 shares in the last quarter. Invesco Ltd. grew its stake in Blackstone Secured Lending Fund by 15.9% in the 2nd quarter. Invesco Ltd. now owns 90,513 shares of the company’s stock worth $2,783,000 after acquiring an additional 12,450 shares in the last quarter. Marshall Wace LLP bought a new position in Blackstone Secured Lending Fund in the 2nd quarter worth about $2,122,000. NewEdge Advisors LLC increased its position in shares of Blackstone Secured Lending Fund by 568.7% during the second quarter. NewEdge Advisors LLC now owns 20,281 shares of the company’s stock worth $624,000 after acquiring an additional 17,248 shares during the period. Finally, Nebula Research & Development LLC purchased a new position in shares of Blackstone Secured Lending Fund during the second quarter worth approximately $455,000. 36.49% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Blackstone Secured Lending Fund

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

• Positive Sentiment: BXSL reported net investment income of $0.75 per share, surpassing the $0.66 analyst consensus, while return on NAV remained steady. The portfolio also recorded no new non-accrual investments, suggesting credit performance remains stable. Blackstone Secured Lending turns in solid Q2 results with return on NAV holding steady
• Positive Sentiment: The company’s portfolio remains heavily weighted toward first-lien senior secured debt, which represented 96.8% of investments at fair value. Non-accrual investments were limited to 1.8%, and BXSL had approximately $2.8 billion of liquidity at quarter-end. Blackstone Secured Lending Fund Reports Second-Quarter 2026 Results
• Positive Sentiment: BXSL declared a quarterly dividend of $0.77 per share, payable October 23 to shareholders of record September 30. At the reported share price, that equates to an annualized yield of roughly 12.7%, supporting the stock’s income appeal.
• Neutral Sentiment: Zacks Research upgraded BXSL from “strong sell” to “hold,” indicating a less negative view but not a bullish recommendation.
• Negative Sentiment: Despite the earnings beat, quarterly net income fell sharply to approximately $9 million, or $0.04 per share. Reported revenue of $233.3 million was also below the $326.7 million consensus estimate, highlighting pressure on overall profitability. Blackstone Secured Lending Fund Surpasses Q2 Earnings Estimates
• Negative Sentiment: An analysis argues investors should prepare for a potential dividend reset. Although the current payout was maintained, lower earnings and changing interest-rate conditions could make the high dividend less sustainable or lead to reduced distributions. Blackstone Secured Lending: Get Ready For A Dividend Reset

Analysts Set New Price Targets

A number of equities analysts have recently commented on BXSL shares. B. Riley Financial dropped their target price on Blackstone Secured Lending Fund from $24.50 to $23.50 and set a “neutral” rating for the company in a report on Tuesday, May 12th. Wall Street Zen upgraded Blackstone Secured Lending Fund from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Keefe, Bruyette & Woods downgraded Blackstone Secured Lending Fund from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $25.00 to $24.00 in a research report on Monday, June 8th. JPMorgan Chase & Co. dropped their price objective on shares of Blackstone Secured Lending Fund from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Thursday, July 2nd. Finally, Truist Financial cut their price objective on shares of Blackstone Secured Lending Fund from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $24.78.

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.