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

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) declared a dividend on Tuesday, February 25th, investing.com reports. Investors of record on Monday, March 3rd will be given a dividend of 0.07 per share by the financial services provider on Thursday, March 20th. This represents a dividend yield of 7.06%. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from Sixth Street Specialty Lending’s previous dividend of $0.05.

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. 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 Trading Up 1.1 %

TSLX traded up $0.26 during trading on Wednesday, hitting $23.44. 88,169 shares of the stock traded hands, compared to its average volume of 366,515. The firm has a 50-day moving average of $21.80 and a 200 day moving average of $21.14. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market capitalization of $2.19 billion, a P/E ratio of 11.55 and a beta of 1.06. Sixth Street Specialty Lending has a 12-month low of $19.50 and a 12-month high of $23.66.

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Sixth Street Specialty Lending from $22.50 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Keefe, Bruyette & Woods upped their price target on shares of Sixth Street Specialty Lending from $21.50 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Wells Fargo & Company raised their price objective 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. LADENBURG THALM/SH SH downgraded Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a research report on Friday, February 14th. Finally, Truist Financial boosted their target price 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. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.79.

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.