Sixth Street Specialty Lending, Inc. Declares Quarterly Dividend of $0.42 (NYSE:TSLX)

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) declared a quarterly dividend on Tuesday, August 4th. Shareholders of record on Tuesday, September 15th will be given a dividend of 0.42 per share by the financial services provider on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 9.5%. The ex-dividend date of this dividend is Tuesday, September 15th.

Sixth Street Specialty Lending has decreased its dividend payment by an average of 0.0%annually over the last three years. Sixth Street Specialty Lending has a payout ratio of 75.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Sixth Street Specialty Lending to earn $1.81 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 92.8%.

Sixth Street Specialty Lending Trading Down 1.8%

Shares of TSLX stock traded down $0.33 during trading hours on Wednesday, hitting $17.68. 47,810 shares of the company were exchanged, compared to its average volume of 817,786. The company has a 50 day simple moving average of $17.12 and a two-hundred day simple moving average of $18.32. The firm has a market cap of $1.68 billion, a P/E ratio of 15.37 and a beta of 0.59. The company has a debt-to-equity ratio of 1.17, a quick ratio of 3.39 and a current ratio of 3.39. Sixth Street Specialty Lending has a fifty-two week low of $16.04 and a fifty-two week high of $24.79.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. Sixth Street Specialty Lending had a net margin of 25.25% and a return on equity of 11.92%. The business had revenue of $97.84 million during the quarter, compared to analysts’ expectations of $95.28 million. During the same period last year, the company posted $0.56 earnings per share. Equities analysts anticipate that Sixth Street Specialty Lending will post 1.71 EPS for the current year.

Insider Activity at Sixth Street Specialty Lending

In other Sixth Street Specialty Lending news, VP Ross Anthony Bruck bought 8,000 shares of Sixth Street Specialty Lending stock in a transaction dated Monday, May 11th. The stock was bought at an average cost of $17.76 per share, with a total value of $142,080.00. Following the completion of the acquisition, the vice president directly owned 18,250 shares in the company, valued at approximately $324,120. The trade was a 78.05% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.83% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Quantum Portfolio Management LLC bought a new stake in shares of Sixth Street Specialty Lending during the 1st quarter worth $273,434,000. Strs Ohio raised its position in Sixth Street Specialty Lending by 101.8% in the first quarter. Strs Ohio now owns 4,347,710 shares of the financial services provider’s stock worth $79,911,000 after acquiring an additional 2,193,551 shares during the period. Sound Income Strategies LLC boosted its stake in Sixth Street Specialty Lending by 2.4% in the first quarter. Sound Income Strategies LLC now owns 2,571,052 shares of the financial services provider’s stock valued at $46,562,000 after acquiring an additional 59,937 shares during the last quarter. Progeny 3 Inc. grew its position in shares of Sixth Street Specialty Lending by 1.0% during the 2nd quarter. Progeny 3 Inc. now owns 2,476,398 shares of the financial services provider’s stock valued at $58,963,000 after acquiring an additional 23,451 shares during the period. Finally, Bank of Montreal Can raised its holdings in shares of Sixth Street Specialty Lending by 419.5% in the 4th quarter. Bank of Montreal Can now owns 2,284,920 shares of the financial services provider’s stock worth $49,628,000 after purchasing an additional 1,845,088 shares during the period. Institutional investors own 70.25% of the company’s stock.

About Sixth Street Specialty Lending

Sixth Street Specialty Lending Inc (NYSE: TSLX) is a closed-end, externally managed business development company that provides flexible debt financing solutions to middle-market companies. The fund primarily targets senior secured loans, unitranche facilities, mezzanine debt, second-lien financings and equity co-investment opportunities. By structuring tailored capital solutions, Sixth Street Specialty Lending seeks to support growth initiatives, recapitalizations and refinancings across a diverse set of industries, including technology, healthcare and business services.

As an affiliate of Sixth Street Partners, a global alternative investment firm, the company leverages the broader platform’s credit research, operational expertise and industry relationships.