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

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) announced a dividend on Thursday, November 28th,investing.com reports. Investors of record on Monday, December 2nd will be paid a dividend of 0.05 per share by the financial services provider on Friday, December 20th. This represents a yield of 7.69%. The ex-dividend date of this dividend is Friday, November 29th.

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 tumble. Equities 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 traded up $0.25 during trading on Thursday, hitting $21.19. 263,393 shares of the stock traded hands, compared to its average volume of 347,850. The company has a market capitalization of $1.98 billion, a P/E ratio of 10.29 and a beta of 1.06. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 1.17. The firm has a 50-day simple moving average of $20.51 and a 200-day simple moving average of $20.99. Sixth Street Specialty Lending has a 12-month low of $19.50 and a 12-month high of $22.35.

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

Wall Street Analyst Weigh In

TSLX has been the topic of several research analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 price target on shares of Sixth Street Specialty Lending in a research note on Tuesday, November 12th. Keefe, Bruyette & Woods reduced their price target on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating for the company in a report on Thursday, November 7th. Wells Fargo & Company reduced their target price on Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Finally, LADENBURG THALM/SH SH raised Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price target for the company in a report on Wednesday, November 6th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Sixth Street Specialty Lending has a consensus rating of “Buy” and a consensus price target of $22.00.

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.