
BXSL Stock Forecast & Price Target
BXSL Analyst Ratings
Bulls say
Blackstone Secured is supported by a differentiated Blackstone affiliation that provides proprietary deal flow, scale in origination, and portfolio-support resources that can improve borrower performance and credit quality across its senior secured first-lien lending book. Its conservative portfolio construction and low-cost operating model have helped produce competitive economics, with NII margins of 7.4% in 2025 and 8.6% in 2024, while estimated 2026 and 2027 EPS of $2.02 and $2.46 imply improving ROE of 7.7% and 9.7%. Although non-accruals increased and leverage rose to 1.32x debt/equity, the dividend was maintained at $3.08 per share and spillover support appears available, reinforcing income durability and a favorable risk-adjusted outlook.
Bears say
Blackstone Secured is facing a weakened fundamental profile because its portfolio is concentrated in riskier small-cap lending, with 21% in software and 98% in first-lien assets, leaving it exposed to industry disruption, U.S. business-cycle stress, and rising credit losses. Non-accruals jumped to 4.7% of the portfolio from 0.6% in 4Q, while 1Q26 GAAP net income per share was only $0.11 after $0.66 of realized and unrealized losses, signaling that asset quality and mark-to-market pressure are already eroding earnings. Leverage of 1.32x sits above management’s target and the estimated NII per share of $2.68 in 2026 and $2.46 in 2027 trails the $3.08 dividend, raising the risk that liquidity and spillover income only delay a future dividend cut.
This aggregate rating is based on analysts' research of Blackstone Secured Lending Fund and is not a guaranteed prediction by Public.com or investment advice.
BXSL Analyst Forecast & Price Prediction
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