Sixth Street Specialty Lending, Inc. (NYSE:TSLX) to Issue Quarterly Dividend of $0.07

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 given a dividend of 0.07 per share by the financial services provider on Monday, March 31st. This represents a $0.28 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend 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% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. 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 Down 2.0 %

TSLX stock opened at $22.09 on Wednesday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 1.18. The company’s 50 day moving average is $22.21 and its 200 day moving average is $21.30. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of 10.88 and a beta of 1.08. Sixth Street Specialty Lending has a 1-year low of $19.50 and a 1-year high of $23.67.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.04. The company had revenue of $123.70 million for 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%. Sell-side analysts predict that Sixth Street Specialty Lending will post 2.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on TSLX shares. Keefe, Bruyette & Woods increased 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 research report on Tuesday, February 18th. Royal Bank of Canada increased their price target on shares of Sixth Street Specialty Lending from $23.00 to $25.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Truist Financial increased their price target on shares of Sixth Street Specialty Lending from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Wells Fargo & Company increased their price target on shares of Sixth Street Specialty Lending from $21.00 to $23.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Finally, LADENBURG THALM/SH SH cut shares of Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a research report on Friday, February 14th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Sixth Street Specialty Lending presently has an average rating of “Moderate Buy” and a consensus price target 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.