Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Announces Dividend Increase – $0.07 Per Share

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) announced a dividend on Sunday, February 23rd, 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 yield of 7.06%. The ex-dividend date is Friday, February 28th. This is a positive change from Sixth Street Specialty Lending’s previous dividend of $0.05.

Sixth Street Specialty Lending has a dividend payout ratio of 82.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 Up 1.8 %

TSLX stock opened at $23.50 on Monday. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 11.57 and a beta of 1.06. Sixth Street Specialty Lending has a twelve month low of $19.50 and a twelve month high of $23.66. The business has a 50 day moving average price of $21.74 and a two-hundred day moving average price of $21.12. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 1.18.

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

Wall Street Analysts Forecast Growth

TSLX has been the topic of several recent analyst reports. Keefe, Bruyette & Woods boosted their price objective on shares of Sixth Street Specialty Lending from $21.50 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Truist Financial boosted their price target on Sixth Street Specialty Lending from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. raised their price objective on Sixth Street Specialty Lending from $22.50 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 target price on shares of Sixth Street Specialty Lending in a research note on Tuesday, November 12th. Finally, LADENBURG THALM/SH SH cut Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a research note on Friday, February 14th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.