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

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) announced a dividend on Tuesday, February 25th, investing.com reports. Stockholders 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 is Friday, February 28th. This is a boost from Sixth Street Specialty Lending’s previous dividend of $0.05.

Sixth Street Specialty Lending has a dividend payout ratio of 82.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. 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 Price Performance

NYSE:TSLX traded down $0.23 during mid-day trading on Tuesday, reaching $23.22. 461,586 shares of the company were exchanged, compared to its average volume of 374,591. Sixth Street Specialty Lending has a 12 month low of $19.50 and a 12 month high of $23.66. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 1.18. The company has a fifty day moving average of $21.80 and a 200 day moving average of $21.14. The stock has a market cap of $2.17 billion, a PE ratio of 11.44 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings data 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 firm had revenue of $123.70 million during the quarter, compared to analyst estimates of $120.07 million. On average, research analysts anticipate that Sixth Street Specialty Lending will post 2.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TSLX has been the topic of several recent research reports. Keefe, Bruyette & Woods raised their price target on 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $23.00 target price on shares of Sixth Street Specialty Lending in a research note on Tuesday, November 12th. LADENBURG THALM/SH SH downgraded Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a report on Friday, February 14th. Truist Financial boosted their price objective on shares of Sixth Street Specialty Lending from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company raised their price objective on Sixth Street Specialty Lending from $21.00 to $23.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.79.

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.