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

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

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 Stock Up 1.6%

Shares of BXSL traded up $0.39 during mid-day trading on Friday, hitting $24.54. 2,088,776 shares of the company’s stock were exchanged, compared to its average volume of 1,593,497. Blackstone Secured Lending Fund has a 52 week low of $22.47 and a 52 week high of $30.69. The stock’s 50-day simple moving average is $23.61 and its 200-day simple moving average is $24.07. The firm has a market cap of $5.71 billion, a price-to-earnings ratio of 19.32 and a beta of 0.38.

Blackstone Secured Lending Fund Dividend Announcement

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

Insider Activity

In related news, insider Robert J. Bass purchased 2,095 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was acquired at an average cost of $23.80 per share, for a total transaction of $49,861.00. Following the completion of the purchase, the insider owned 25,107 shares in the company, valued at approximately $597,546.60. This represents a 9.10% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.11% of the company’s stock.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BXSL. Osterweis Capital Management Inc. acquired a new stake in shares of Blackstone Secured Lending Fund during the 4th quarter worth $33,000. Northwestern Mutual Wealth Management Co. acquired a new position in Blackstone Secured Lending Fund in the fourth quarter valued at about $70,000. Ankerstar Wealth LLC bought a new stake in Blackstone Secured Lending Fund during the fourth quarter worth about $79,000. Garton & Associates Financial Advisors LLC bought a new stake in Blackstone Secured Lending Fund during the fourth quarter worth about $167,000. Finally, Prosperity Consulting Group LLC acquired a new stake in Blackstone Secured Lending Fund during the third quarter worth about $214,000. 36.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on BXSL. Wall Street Zen raised Blackstone Secured Lending Fund from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Wells Fargo & Company dropped their price target on Blackstone Secured Lending Fund from $24.00 to $22.00 and set an “underweight” rating for the company in a report on Friday, May 8th. UBS Group reduced their price target on Blackstone Secured Lending Fund from $24.75 to $24.50 and set a “neutral” rating for the company in a research note on Monday, May 18th. Truist Financial decreased their price objective on Blackstone Secured Lending Fund from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th. Finally, JPMorgan Chase & Co. decreased their price objective on Blackstone Secured Lending Fund from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Thursday, July 2nd. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $24.78.

Key Stories 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

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.