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

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 paid 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 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 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 decline. Equities 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 opened at $23.50 on Friday. The firm has a 50 day moving average price of $21.74 and a 200-day moving average price of $21.11. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 1.18. The stock has a market capitalization 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.

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

Wall Street Analysts Forecast Growth

TSLX has been the subject of a number of research reports. Royal Bank of Canada restated an “outperform” rating and set a $23.00 target price on shares of Sixth Street Specialty Lending in a research report on Tuesday, November 12th. JPMorgan Chase & Co. increased 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 research note on Tuesday, February 18th. LADENBURG THALM/SH SH cut shares of Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a report on Friday, February 14th. Truist Financial upped 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. Finally, Keefe, Bruyette & Woods increased their target price on shares of Sixth Street Specialty Lending from $21.50 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.79.

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.