Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Declares Dividend Increase – $0.07 Per Share

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) declared a dividend on Tuesday, February 25th, investing.com reports. Stockholders of record on Monday, March 3rd will be paid 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 an increase 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. 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 Price Performance

Shares of NYSE:TSLX traded down $0.23 during trading on Tuesday, reaching $23.22. 461,586 shares of the company traded hands, compared to its average volume of 374,591. The firm has a market capitalization of $2.17 billion, a PE ratio of 11.44 and a beta of 1.06. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 1.18. Sixth Street Specialty Lending has a 52 week low of $19.50 and a 52 week high of $23.66. The company’s 50 day moving average is $21.80 and its two-hundred day moving average is $21.14.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.04. The company had revenue of $123.70 million during the quarter, compared to the consensus estimate of $120.07 million. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 38.67%. As a group, sell-side analysts predict that Sixth Street Specialty Lending will post 2.19 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on TSLX shares. LADENBURG THALM/SH SH downgraded shares of Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a research note on Friday, February 14th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 target price on shares of Sixth Street Specialty Lending in a research report on Tuesday, November 12th. Keefe, Bruyette & Woods upped their price target on Sixth Street Specialty Lending from $21.50 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Truist Financial increased their price target on Sixth Street Specialty Lending from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Finally, JPMorgan Chase & Co. lifted their price objective on Sixth Street Specialty Lending from $22.50 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.