Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Raises Dividend to $0.07 Per Share

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) announced a dividend on Thursday, February 27th, investing.com reports. Stockholders of record on Monday, March 3rd will be paid a dividend of 0.07 per share by the financial services provider on Thursday, March 20th. This represents a dividend yield of 6.99%. 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. 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

Shares of Sixth Street Specialty Lending stock opened at $23.24 on Friday. The firm has a fifty day moving average price of $21.96 and a two-hundred day moving average price of $21.18. Sixth Street Specialty Lending has a fifty-two week low of $19.50 and a fifty-two week high of $23.66. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.90 and a quick ratio of 1.90. The company has a market cap of $2.18 billion, a PE ratio of 11.45 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX) last announced 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. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 38.67%. The company had revenue of $123.70 million during the quarter, compared to the consensus estimate of $120.07 million. Analysts expect that Sixth Street Specialty Lending will post 2.19 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price target 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, February 18th. 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. Wells Fargo & Company increased their price target on 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. Keefe, Bruyette & Woods raised their price target on shares of Sixth Street Specialty Lending from $21.50 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Finally, Royal Bank of Canada boosted their price objective on shares of Sixth Street Specialty Lending from $23.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.07.

About Sixth Street Specialty Lending

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.