First American vs Blackstone Secured Lending

This page compares First American and Blackstone Secured Lending, examining business models, financial performance, and market context in clear, neutral terms for readers. Educational content, not financial advice.

This page compares First American and Blackstone Secured Lending, examining business models, financial performance, and market context in clear, neutral terms for readers. Educational content, not fin...

Comparison Snapshot

Key Financial Metrics

FAF

Metric

BXSL

$6.25B

Market Cap

$6.03B

22.15%

Potential Profit

12.43%

Buy

Analyst Rating

Buy

Investment Analysis

First American

FAF

Pros

Reported Q3 2025 earnings and revenues exceeded analyst expectations, with adjusted EPS up 27% year-over-year.
Strong dividend track record with consistent increases supported by solid cash flow and a dividend yield rated favorably.
Strategic focus on technology to centralize infrastructure and reduce costs, enhancing operational efficiency.

Considerations

Market valuation appears high with a price-to-earnings ratio around 35.7x, well above sector average.
Faces headwinds from declining purchase and commercial real estate segments despite surging refinancing demand.
Financial health is moderate with a debt-to-equity ratio near 49%, which could pressure earnings if market conditions worsen.

Blackstone Secured Lending

BXSL

Pros

Focuses almost exclusively on first lien senior secured debt, representing 98.2% of investments, reducing credit risk.
Managed by Blackstone Credit, a large alternative credit platform, providing strong expertise and operational scale.
Strong industry recognition with multiple awards for fund management and responsible investing since 2021.

Considerations

The closed-end fund structure and BDC regulatory framework can expose shareholders to liquidity and valuation discount risks.
Predominantly invests in private U.S. middle-market companies, which can suffer from economic cyclicality and credit risk.
Investment returns driven primarily by current income may limit capital appreciation potential compared to equity-focused funds.

About The Companies

First American (FAF)

First American Financial Corporation (FAF) is a US-based provider of title insurance, settlement services and real-estate data and analytics supporting property transactions. The company earns fees when homes are bought, sold or refinanced, so revenue and profit tend to track housing-market activity, mortgage volumes and interest-rate moves. With a market cap of about $6.22 billion, First American operates across many regional markets and maintains underwriting reserves to handle title claims. Key things investors usually watch are transaction volumes, margin trends, reserve strength and regulatory or litigation developments. Strengths include an entrenched market position and valuable property data assets; risks include cyclical demand tied to the housing market, legal exposure from title defects or claims, and competitive or technological disruption. This summary is for general educational purposes only and not personalised investment advice; values can rise and fall and past performance is not a reliable indicator of future returns.

Blackstone Secured Lending (BXSL)

Blackstone Secured Lending Fund (BXSL) is a closed‑end investment vehicle managed by Blackstone’s credit team that focuses on senior secured loans and other floating‑rate credit instruments, primarily to North American middle‑market companies. The fund aims to generate current income while seeking capital preservation through secured, first‑lien and unitranche loans. As a closed‑end fund, BXSL may use leverage and its market price can trade at a premium or discount to net asset value; it commonly pays regular distributions. Investors should be aware of credit risk, potential illiquidity in stressed markets, sensitivity to loan spreads and the effects of leverage on returns. Market capitalisation is about $6.09 billion (as of the provided data). This information is educational and not personalised advice; outcomes can vary and capital is at risk, so suitability depends on an investor’s income needs and tolerance for credit and market volatility.

Which Baskets Do They Appear In?

The Great Mortgage Privatization

The planned IPOs for mortgage giants Fannie Mae and Freddie Mac signal a historic shift toward privatization in the U.S. housing market. This move stands to benefit not only the investment banks managing the deal but also a wider ecosystem of mortgage lenders and insurers.

Published: August 11, 2025

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Which Baskets Do They Appear In?

The Great Mortgage Privatization

The planned IPOs for mortgage giants Fannie Mae and Freddie Mac signal a historic shift toward privatization in the U.S. housing market. This move stands to benefit not only the investment banks managing the deal but also a wider ecosystem of mortgage lenders and insurers.

Published: August 11, 2025

Explore Basket

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Comparison Snapshot