Blackstone Secured Lending Fund (NYSE:BXSL) Issues Earnings Results, Beats Estimates By $0.02 EPS

Blackstone Secured Lending Fund (NYSE:BXSL) posted its quarterly earnings data on Wednesday. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.02, Zacks reports. The company had revenue of $315.18 million during the quarter, compared to analyst estimates of $317.81 million. Blackstone Secured Lending Fund had a return on equity of 11.86% and a net margin of 21.51%.

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 2.9%

Shares of NYSE BXSL opened at $23.90 on Thursday. The firm’s 50-day moving average price is $24.14 and its 200-day moving average price is $24.12. The company has a market cap of $5.57 billion, a PE ratio of 7.39 and a beta of 0.39. Blackstone Secured Lending Fund has a 52-week low of $22.47 and a 52-week high of $28.59.

Blackstone Secured Lending Fund Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 22nd. Shareholders of record on Thursday, December 31st will be paid a dividend of $0.77 per share. The ex-dividend date is Thursday, December 31st. This represents a $3.08 annualized dividend and a yield of 12.9%. Blackstone Secured Lending Fund’s dividend payout ratio is currently 242.52%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on BXSL shares. Citigroup initiated coverage on Blackstone Secured Lending Fund in a research note on Monday, October 26th. They issued a “market perform” rating on the stock. UBS Group upped their price target on shares of Blackstone Secured Lending Fund from $24.50 to $25.50 and gave the stock a “neutral” rating in a research note on Tuesday, September 1st. Wall Street Zen raised shares of Blackstone Secured Lending Fund from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Zacks Research upgraded shares of Blackstone Secured Lending Fund from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 5th. Finally, Citizens Jmp assumed coverage on shares of Blackstone Secured Lending Fund in a report on Monday, October 26th. They issued a “market perform” rating for the company. Four investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $24.89.

Key Headlines Impacting Blackstone Secured Lending Fund

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

• Positive Sentiment: Third-quarter net investment income was $0.68 per share, slightly above Zacks’ $0.67 consensus estimate. Management said results were supported by BXSL’s predominantly first-lien, floating-rate portfolio, with borrowers generally showing earnings growth. Third-quarter results
• Neutral Sentiment: BXSL declared a $0.77-per-share quarterly dividend, payable January 22 to shareholders of record December 31. That equates to $3.08 annualized and a stated 12.9% yield at the time of the announcement. Dividend announcement
• Negative Sentiment: Reports indicate BXSL plans to reduce its Q1 2027 dividend to $0.60 per share, down from $0.77, while it continues refinancing about $3.2 billion of notes. The prospective cut could weigh on the stock, particularly for income-focused investors. Dividend reset and refinancing
• Negative Sentiment: Quarterly net investment income declined from $0.82 per share a year earlier. Separately, MarketBeat reported EPS of $0.50, below its $0.66 consensus estimate, and revenue of $315.18 million, slightly under expectations—contrasting with Zacks’ estimate comparison for net investment income. Earnings estimate comparison

Blackstone Secured Lending Fund Company Profile

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.