Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Raises Dividend to $0.07 Per Share

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) announced a dividend on Friday, February 21st, investing.com reports. Shareholders 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 yield of 7.06%. The ex-dividend date of this dividend 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 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 tumble. 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 $23.12 on Friday. Sixth Street Specialty Lending has a 52-week low of $19.50 and a 52-week high of $23.15. The stock has a fifty day moving average price of $21.70 and a two-hundred day moving average price of $21.08. 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 $2.16 billion, a P/E ratio of 11.39 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $123.70 million for the quarter, compared to analysts’ expectations of $120.07 million. As a group, analysts anticipate that Sixth Street Specialty Lending will post 2.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on TSLX shares. JPMorgan Chase & Co. upped their price objective on shares of Sixth Street Specialty Lending from $22.50 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday. Truist Financial increased their target price on Sixth Street Specialty Lending from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $23.00 price target on shares of Sixth Street Specialty Lending in a report on Tuesday, November 12th. Keefe, Bruyette & Woods boosted their price objective on shares of Sixth Street Specialty Lending from $21.50 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, LADENBURG THALM/SH SH cut Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a report on Friday, February 14th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock 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.