Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Declares Dividend of $0.07

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) declared a dividend on Saturday, February 22nd, investing.com reports. Investors of record on Monday, March 3rd will be given a dividend of 0.07 per share by the financial services provider on Thursday, March 20th. This represents a dividend yield of 7.06%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from Sixth Street Specialty Lending’s previous dividend of $0.05.

Sixth Street Specialty Lending has a payout ratio of 82.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Sixth Street Specialty Lending to earn $2.16 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 85.2%.

Sixth Street Specialty Lending Stock Performance

Shares of NYSE TSLX traded up $0.43 during midday trading on Friday, reaching $23.50. 2,303,057 shares of the company were exchanged, compared to its average volume of 302,124. The stock has a market cap of $2.20 billion, a P/E ratio of 11.57 and a beta of 1.06. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 1.18. The stock has a fifty day simple moving average of $21.74 and a 200 day simple moving average of $21.11. Sixth Street Specialty Lending has a 1 year low of $19.50 and a 1 year high of $23.66.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The firm had revenue of $123.70 million for the quarter, compared to the consensus estimate of $120.07 million. Sixth Street Specialty Lending had a net margin of 38.67% and a return on equity of 13.47%. On average, research analysts forecast that Sixth Street Specialty Lending will post 2.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on TSLX. LADENBURG THALM/SH SH lowered Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a research note on Friday, February 14th. Keefe, Bruyette & Woods raised their price objective on Sixth Street Specialty Lending from $21.50 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday. Truist Financial raised their price target on Sixth Street Specialty Lending from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday. Wells Fargo & Company lifted their price target on shares of Sixth Street Specialty Lending from $21.00 to $23.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Sixth Street Specialty Lending from $22.50 to $23.00 and gave the company an “overweight” rating in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Sixth Street Specialty Lending currently has a consensus rating of “Moderate Buy” and an average price target of $22.79.

Sixth Street Specialty Lending Company Profile

Sixth Street Specialty Lending, Inc (NYSE: TSLX) is a business development company. The fund provides senior secured loans (first-lien, second-lien, and unitranche), unsecured loans, mezzanine debt, and investments in corporate bonds and equity securities and structured products, non-control structured equity, and common equity with a focus on co-investments for organic growth, acquisitions, market or product expansion, restructuring initiatives, recapitalizations, and refinancing.