Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Increases Dividend to $0.46 Per Share

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) declared a quarterly dividend on Friday, February 14th, Wall Street Journal reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.46 per share by the financial services provider on Monday, March 31st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 8.33%. The ex-dividend date of this dividend is Friday, March 14th. This is a 820.0% increase from Sixth Street Specialty Lending’s previous quarterly dividend of $0.05.

Sixth Street Specialty Lending has a 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. Equities research 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 Stock Performance

Sixth Street Specialty Lending stock opened at $22.09 on Wednesday. The stock has a fifty day moving average price of $22.21 and a 200 day moving average price of $21.30. Sixth Street Specialty Lending has a 52 week low of $19.50 and a 52 week high of $23.67. The firm has a market capitalization of $2.07 billion, a P/E ratio of 10.88 and a beta of 1.08. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 1.18.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Royal Bank of Canada upped their price objective on Sixth Street Specialty Lending from $23.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Wells Fargo & Company raised their price objective on Sixth Street Specialty Lending from $21.00 to $23.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. LADENBURG THALM/SH SH cut Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a report on Friday, February 14th. Truist Financial lifted their price target on shares of Sixth Street Specialty Lending from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Sixth Street Specialty Lending from $22.50 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Sixth Street Specialty Lending currently has an average rating of “Moderate Buy” and an average price target of $23.07.

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.