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

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) announced a dividend on Tuesday, February 25th, 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 boost from Sixth Street Specialty Lending’s previous dividend of $0.05.

Sixth Street Specialty Lending has a dividend 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 Price Performance

TSLX traded up $0.31 during midday trading on Wednesday, reaching $23.49. 76,335 shares of the company’s stock were exchanged, compared to its average volume of 366,068. Sixth Street Specialty Lending has a one year low of $19.50 and a one year high of $23.66. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 11.57 and a beta of 1.06. The business has a 50-day simple moving average of $21.80 and a two-hundred day simple moving average of $21.14. 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 quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.04. The firm had revenue of $123.70 million during the quarter, compared to analyst estimates of $120.07 million. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 38.67%. As a group, research analysts predict that Sixth Street Specialty Lending will post 2.19 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on TSLX. LADENBURG THALM/SH SH lowered shares of Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a report on Friday, February 14th. JPMorgan Chase & Co. raised their price target on Sixth Street Specialty Lending from $22.50 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Truist Financial boosted their price objective on Sixth Street Specialty Lending from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Keefe, Bruyette & Woods raised their target price on Sixth Street Specialty Lending from $21.50 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company upped their price target on shares of Sixth Street Specialty Lending from $21.00 to $23.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average 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.