Sixth Street Specialty Lending, Inc. (TSLX) to Issue Quarterly Dividend of $0.07 on March 31st

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) declared a quarterly dividend on Thursday, February 13th, investing.com reports. Investors of record on Friday, March 14th will be paid a dividend of 0.07 per share by the financial services provider on Monday, March 31st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Friday, March 14th. This is a 40.0% increase from Sixth Street Specialty Lending’s previous quarterly 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 fall. Equities 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

Shares of NYSE:TSLX opened at $22.09 on Wednesday. The company’s 50-day moving average is $22.21 and its 200 day moving average is $21.30. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market capitalization of $2.07 billion, a P/E ratio of 10.88 and a beta of 1.08. Sixth Street Specialty Lending has a fifty-two week low of $19.50 and a fifty-two week high of $23.67.

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, beating the consensus estimate of $0.57 by $0.04. The business 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, equities research analysts forecast that Sixth Street Specialty Lending will post 2.19 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on TSLX shares. LADENBURG THALM/SH SH downgraded shares of Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a report on Friday, February 14th. JPMorgan Chase & Co. upped their price objective 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. Wells Fargo & Company upped their price objective 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. Royal Bank of Canada upped their price objective on shares of Sixth Street Specialty Lending from $23.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Finally, Truist Financial increased their price target on shares of Sixth Street Specialty Lending from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $23.07.

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.