Sixth Street Specialty Lending, Inc. (NYSE:TSLX) to Issue $0.06 Dividend

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) announced a dividend on Saturday, May 25th, investing.com reports. Stockholders of record on Monday, June 3rd will be paid a dividend of 0.06 per share by the financial services provider on Thursday, June 20th. This represents a dividend yield of 7.61%. The ex-dividend date of this dividend is Friday, May 31st.

Sixth Street Specialty Lending has increased its dividend payment by an average of 6.9% per year over the last three years and has raised its dividend every year for the last 1 years. 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 tumble. Equities research analysts expect Sixth Street Specialty Lending to earn $2.24 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 82.1%.

Sixth Street Specialty Lending Price Performance

Shares of NYSE TSLX traded up $0.35 during trading on Friday, reaching $21.69. The company had a trading volume of 316,942 shares, compared to its average volume of 384,541. Sixth Street Specialty Lending has a 52 week low of $17.80 and a 52 week high of $22.35. The business’s 50 day moving average price is $21.15 and its 200-day moving average price is $21.29. The stock has a market cap of $2.01 billion, a PE ratio of 8.74 and a beta of 1.03. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.03 and a current ratio of 2.03.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.02). Sixth Street Specialty Lending had a return on equity of 13.74% and a net margin of 47.16%. The company had revenue of $117.78 million during the quarter, compared to the consensus estimate of $118.44 million. Analysts expect that Sixth Street Specialty Lending will post 2.33 earnings per share for the current year.

Wall Street Analyst Weigh In

TSLX has been the subject of a number of research reports. Wells Fargo & Company lifted their price objective on Sixth Street Specialty Lending from $21.00 to $22.50 and gave the stock an “overweight” rating in a research report on Monday, January 29th. Truist Financial upped their price objective on Sixth Street Specialty Lending from $22.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, February 20th. JMP Securities reissued a “market outperform” rating and issued a $22.50 target price on shares of Sixth Street Specialty Lending in a research note on Tuesday, March 26th. Keefe, Bruyette & Woods decreased their target price on Sixth Street Specialty Lending from $23.50 to $23.00 and set an “outperform” rating for the company in a research report on Monday, May 6th. Finally, Royal Bank of Canada increased their price target on shares of Sixth Street Specialty Lending from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $22.67.

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.