Consistent, high-yield stocks are among my favorite investments. Their reliable payouts act like an ATM while helping shield my portfolio from a downturn.
Blackstone Secured Lending Fund (NYSE:BXSL ) Q2 2024 Earnings Conference Call August 7, 2024 9:30 AM ET Company Participants Stacy Wang - Head, Stakeholder Relations Brad Marshall - Chairman and Co-CEO Jonathan Bock - Co-CEO Teddy Desloge - CFO Carlos Whitaker - President Conference Call Participants Finian O'Shea - Wells Fargo Securities Robert Dodd - Raymond James Paul Johnson - KBW Mark Hughes - Truist Kenneth Lee - RBC Capital Markets Operator Good day and welcome to the Blackstone Secured Lending Second Quarter 2024 Investor Call. Today's conference is being recorded.
BDCs are experiencing a pullback in share prices due to recession fears as well as investor sentiment, creating buying opportunities for investors. Blackstone Secured Lending and Ares Capital are two high-quality BDCs that have seen their share price pullback recently and are now trading at attractive valuations. BXSL and ARCC have strong fundamentals, diversified portfolios, low leverage, and ample liquidity, making them solid long-term investments for income-focused investors.
Blackstone Secured Lending Fund (BXSL) came out with quarterly earnings of $0.89 per share, missing the Zacks Consensus Estimate of $0.90 per share. This compares to earnings of $1.06 per share a year ago.
Markets experienced a rotation out of tech stocks, IT departments panicked due to cybersecurity bug, S&P 500 closed down -2.41%. Dividend Harvesting Portfolio saw record-breaking week, generated $33.49 in dividend income, ROI of 17.49% on invested capital. Portfolio composition includes equities, ETFs, REITs, CEFs, and BDCs, with individual equities representing 38.63% of the portfolio.