Sixth Street Specialty Lending, Inc. Declares Dividend of $0.05 (NYSE:TSLX)

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) announced a dividend on Friday, November 29th,investing.com reports. Shareholders of record on Monday, December 2nd will be given a dividend of 0.05 per share by the financial services provider on Friday, December 20th. This represents a yield of 7.59%. The ex-dividend date is Friday, November 29th.

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 decline. Research analysts expect Sixth Street Specialty Lending to earn $2.23 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 82.5%.

Sixth Street Specialty Lending Price Performance

NYSE:TSLX opened at $21.48 on Friday. Sixth Street Specialty Lending has a 12 month low of $19.50 and a 12 month high of $22.35. The stock has a 50 day moving average of $20.54 and a two-hundred day moving average of $20.99. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 1.17. The firm has a market cap of $2.00 billion, a P/E ratio of 10.43 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. Sixth Street Specialty Lending had a return on equity of 13.55% and a net margin of 39.05%. The company had revenue of $119.22 million during the quarter, compared to analyst estimates of $119.85 million. During the same period in the previous year, the business earned $0.60 EPS. On average, analysts expect that Sixth Street Specialty Lending will post 2.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TSLX. LADENBURG THALM/SH SH upgraded Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price target for the company in a research report on Wednesday, November 6th. Wells Fargo & Company dropped their price target on Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods dropped their price target on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $23.00 price target on shares of Sixth Street Specialty Lending in a research report on Tuesday, November 12th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Sixth Street Specialty Lending has a consensus rating of “Buy” and a consensus target price of $22.00.

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.