Blackstone Secured Lending Fund

Earnings data Q4 2021

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Blackstone Secured Lending Fund (BXSL) posts strong Q1 results

Blackstone Secured Lending Fund (BXSL) reported strong Q1 2024 earnings, demonstrating robust deal activity and financial resilience. While facing challenges such as spread compression and interest rate risk, the fund can leverage its strengths in risk management and investment themes to seize growth opportunities.

Blackstone Secured Lending Fund reports strong Q3 performance and growth

BXSL's Q3 performance showcased strength in NII, NAV growth, credit ratings, and successful capital deployment.
While challenges exist in managing PIK income, repayments, and market dynamics, opportunities in lower rates and deal activity are promising.
BXSL's focus on quality, documentation, and capital strategies align with market trends and growth potential.
Overall, BXSL's solid performance, validated platform, and strategic positioning indicate a positive outlook for future growth.

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The full company name is Blackstone Secured Lending Fund.

BXSL has been one of the best-performing BDCs of the past few years. I think MSDL is poised to experience similar outperformance moving forward. In this article, I explain why.

10%+ Yields: Why Morgan Stanley Direct Lending Is The New Blackstone Secured Lending

Blackstone Secured Lending Fund (NYSE:BXSL ) Q3 2024 Results Conference Call November 12, 2024 9:30 AM ET Company Participants Stacy Wang - Head, Stakeholder Relations Brad Marshall - Chairman and Co-Chief Executive Officer Jonathan Bock - Co-Chief Executive Officer Carlos Whitaker - President Teddy Desloge - Chief Financial Officer Conference Call Participants Finian O'Shea - Wells Fargo Securities Casey Alexander - Compass Point Robert Dodd - Raymond James Kenneth Lee - RBC Capital Markets Paul Johnson - KBW Mark Hughes - Truist Securities Melissa Wedel - JPMorgan Operator Good day, and welcome to the Blackstone Secured Lending Third Quarter 2024 Investor Call. Today's conference is being recorded.

Blackstone Secured Lending Fund (BXSL) Q3 2024 Earnings Call Transcript

Although the revenue and EPS for Blackstone Secured Lending Fund (BXSL) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Compared to Estimates, Blackstone Secured Lending Fund (BXSL) Q3 Earnings: A Look at Key Metrics

Blackstone Secured Lending Fund (BXSL) came out with quarterly earnings of $0.91 per share, beating the Zacks Consensus Estimate of $0.90 per share. This compares to earnings of $0.95 per share a year ago.

Blackstone Secured Lending Fund (BXSL) Beats Q3 Earnings and Revenue Estimates

NEW YORK--(BUSINESS WIRE)--Blackstone Secured Lending Fund (NYSE: BXSL or the “Company”) today reported its third quarter 2024 results. Brad Marshall and Jonathan Bock, Co-Chief Executive Officers of Blackstone Secured Lending Fund, said, “BXSL reported its highest net investment income on a dollar basis and record net asset value per share, along with another active quarter of both commitments and fundings. Credit performance remained strong with minimal non-accruals, underpinned by a 98.7% fi.

Blackstone Secured Lending Fund Reports Third Quarter 2024 Results

Armada Hoffler Properties

Alerian MLP ETF

VanEck Vectors BDC Income ETF

MPLX

Morgan Stanley

Morgan Stanley Direct Lending Fund

Vanguard Real Estate ETF

Chasing yields above 10% is risky. 8-10% yields offer a sweet spot when combined with stable cash flows and strong balance sheets. I share three of these stocks that I really like right now.

8-10% Dividend Yields: If I Could Only Buy 3 In November 2024

LyondellBasell Industries

Main Street Capital

Big dividend stocks are some of my favorite stocks to buy. However, just because a stock pays a big dividend does not mean it is undervalued. I discuss two popular big dividend stocks that, I think, are very overrated right now.

2 Very Overrated And 2 Very Underrated Big Dividend Stocks

Enterprise Products Partners

Energy Transfer LP Unit

Hercules Capital

PIMCO Dynamic Income Fund

Global X NASDAQ 100 Covered Call ETF

Cohen And Steers Total Return Realty Fund

Cohen & Steers Infrastructure Fund Inc

Reaves Utility Income Fund

Western Gas Partners

In this article, I explore the potential path on how one could achieve $10,000 of annual portfolio income in just a 5-year period by accumulating a capital base from zero. I provide a sample portfolio with specific investment picks, which warrant a portfolio weighted average yield of ~ 9.5%. I remain agnostic to price volatility, but focused on avoiding income cut. I hope that this article will provide a source of inspiration or ideas on how to enhance your income-driven portfolios.

Path To $10,000 Of Annual Income In 5 Years Through SWAN Dividend Investing

Barings BDC Inc

Saratoga Investment

Sixth Street Specialty Lending

The investment environment for BDCs remains solid, but there are some clear risks, which call for extra caution. One of the ways to protect current income streams from BDC allocations is to focus on high dividend coverage level picks. I have identified Top 3 BDCs, which carry the highest dividend coverage levels in the sector (on average around 150%).

3 BDCs With Highest Dividend Coverage Levels: Only One Is A Defensive Leader

Nuveen Churchill Direct Lending Corp

Blue Owl Capital Corp

Blue Owl Capital Corp III

Prospect Capital

We take a look at the action in business development companies through the third week of October and highlight some of the key themes we are watching. BDCs had a strong week, rising over 1%, supported by reduced expectations of rate cuts. The rise in Payment-in-Kind (PIK) income, now at 7.5%, raises concerns about potential credit issues, though not all PIK is distress-related.

BDC Weekly Review: PIK Is At Record High

Brookfield Corp

Private credit market is experiencing a significant boom, which is driven by increased regulations in the banking sector and higher base rates. As a result of this, the BDC IPO market has been active in 2024. In this article, I elaborate on two newly publicly traded BDCs, which offer one of the best defensive characteristics in the entire sector.

2 New Publicly Traded BDCs With Top-Class Defense

Apple

AbbVie

AGNC Investment

Antero Midstream Partners

Apple Hospitality REIT

Ares Capital

Apollo Commercial Real Estate Finance

Broadcom

Boeing

Alibaba

Bank of America

BASF SE

Brookfield Renewable Partners

B&G Foods

Bank of Montreal

Bayerische Motoren Werke AG

Bank of Nova Scotia

BRT Apartments

Blackstone Group

Colgate-Palmolive

Canadian Imperial Bank of Commerce

September's investment activity was minimal, with $1,000 invested mainly in Business Development Companies, while I traveled through Hungary, Albania, and Oman. Traveling highlighted the benefits of lower living costs abroad, reinforcing the idea that financial independence is about where and how you live. My September dividend income hit a record $1,141, driven by Ares Capital and MidCap Financial, with a focus on high-yield BDCs.

My Dividend Stock Portfolio: New September Dividend Record - 100 Holdings With 12 Buys

Blackstone Secured Lending and Main Street Capital are top defensive BDCs, both carrying one of the strongest fundamentals in the sector. They have delivered correlated returns, outperforming the index over the past 3 years in a notable fashion. Both BXSL and MAIN are recommended core allocations for BDC investors seeking durable income and defensive characteristics.

Main Street Vs. Blackstone Secured Lending: One Is Superior Pick For Defense

NEW YORK--(BUSINESS WIRE)--Blackstone Secured Lending Fund (NYSE: BXSL) (the “Company”) announced today that it will host its third quarter 2024 investor conference call via public webcast on November 12, 2024 at 9:30 a.m. ET. The Company will report its third quarter results prior to the call the morning of November 12, 2024. To register for the investor call, please use the following link: https://event.webcasts.com/starthere.jsp?ei=1693405&tp_key=86d4073448 For those unable to listen to.

Blackstone Secured Lending Announces Third Quarter 2024 Earnings Release and Conference Call

Enbridge

FS KKR Capital Corp

Global Medical REIT

Nuveen Preferred & Income Opportunities Fund

Realty Income Corp

PIMCO Dynamic Income Opportunities Fund

A durable income-focused portfolio strategy reduces income reduction risk and stress by prioritizing stable income over market-beating returns. In this respect, I have outlined my detailed approach for security selection and portfolio construction. Plus, I provide practical security examples for each of the portfolio buckets: strategic offense, strategic defense, tactical offense, and tactical speculation.

The Ultimate Portfolio Structure For Stress-Free High Current Income

CION Investment Corp

Fidus Investment

Golub Capital BDC

Putnam BDC Income ETF

PennantPark Floating Rate Capital

The All Weather Portfolio concept introduced by Ray Dalio aims for stable returns through largely uncorrelated investment exposures. In this article, I have tried to apply the essence of such a construct for BDC dividend-seeking investments. The sample portfolio, which is presented in the article, consists of three structural layers that are not that correlated and offer different risk and reward profiles.

Invest In All Weather BDC Dividend Portfolio

The Blackstone Secured Lending Fund is a "Buy" due to its attractive 10%+ dividend yield, appealing valuation, and low-risk portfolio. BXSL's operational performance is strong, with net investment income up 12.6% and solid revenue growth despite a minor decline in debt investment yields. The portfolio is low-risk, with 99% in first-lien senior secured debt, a low non-accrual ratio, and strong diversification across industries and companies.

BXSL: Time To Buy This 10%+ Yield Again

PhenixFIN

We take a look at the action in business development companies through the first week of October and highlight some of the key themes we are watching. BDCs saw a modest 0.5% return this week, with MSDL and OBDE leading the way. Private lenders are exploring ETFs to tap retail demand.

BDC Weekly Review: Private Lenders Want To Democratize Access

Income investors should consider Crescent Capital BDC and Fidus Investment for their portfolios, as both trade below Net Asset Values and offer growth potential. CCAP, despite a short track record, shows strong investment activity, solid balance sheet, and consistent dividend payouts, making it a defensively positioned growth opportunity. FDUS has a longer track record, impressive dividend growth, and a solid balance sheet with a lower leverage ratio, offering stability and income reliability.

2 Small Cap, Growing BDCs That Could Be Great Income Additions To Your Portfolio

The Blackstone Secured Lending Fund (BXSL) stock has done modestly well this year, rising by 7.20%. It has underperformed the market, with the S&P 500, Nasdaq 100, and Dow Jones rising to their all-time highs.

Is Blackstone Secured Lending Fund (BXSL) a good dividend stock?

Blackstone Secured Lending stands out due to its strong portfolio strategy, low non-accrual rate, and consistent dividend coverage, making it a solid buy despite interest rate cuts. The BDC prioritizes first lien debt investments, ensuring high repayment priority, and maintains a diverse industry exposure. BXSL's financials are robust, with increasing net investment income and liquidity level.

Blackstone Secured Lending: High Quality BDC With Strong Dividend Coverage

NEW YORK--(BUSINESS WIRE)--Blackstone Secured Lending Fund (NYSE:BXSL) (“BXSL” or the “Company”) announced today that it has priced an underwritten public offering of $400.0 million in aggregate principal amount of 5.350% notes due 2028. The notes will mature on April 13, 2028 and may be redeemed in whole or in part at BXSL's option at the applicable redemption price. The Company expects to use the net proceeds from this offering for general corporate purposes, which may include, among other th.

Blackstone Secured Lending Fund Prices Public Offering of $400.0 million 5.350% Unsecured Notes due 2028

Agree Realty

Essential Properties Realty Trust Inc

It would be fair to assume that usually when it comes to retirement investing, attractive yield and defense are two aspects that dominate investment decisions. If these two aspects have to be in place, there are not that many businesses or securities where to invest. In the previous or Part 1 article, I highlighted BXSL and EPD as two suitable products for defensive income investors.

Hard To Imagine Retirement Portfolio Without These 2 Blue Chips, Part 2

Publicly traded business development companies (BDCs) are growing in popularity for their astounding dividend income. Like real estate investment trusts (REITs), BDCs must distribute 90% of their taxable income to shareholders as dividends.

Top 3 Business Development Companies for Double-Digit Dividends

BXSL stands out in the BDC sector with a highly defensive, first-lien debt-focused portfolio, ensuring security and low default risk. Despite potential interest rate cuts, BXSL should maintain sufficient dividend coverage. Valuation remains attractive with a reasonable premium to net asset value, reflecting BXSL's quality and capital-gathering ability, making it a solid addition to portfolios.

Blackstone Secured Lending Is My Go-To BDC To Sleep Well At Night

News for Blackstone Secured Lending Fund ETF (BXSL)