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

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) declared a quarterly dividend on Thursday, February 13th,NASDAQ Dividends reports. Stockholders of record on Friday, March 14th will be given a dividend of 0.07 per share by the financial services provider on Monday, March 31st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change 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 tumble. Equities analysts expect Sixth Street Specialty Lending to earn $2.22 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 82.9%.

Sixth Street Specialty Lending Stock Up 2.2 %

TSLX opened at $22.97 on Friday. The firm has a market cap of $2.14 billion, a P/E ratio of 11.15 and a beta of 1.06. The business’s fifty day simple moving average is $21.54 and its 200 day simple moving average is $21.00. Sixth Street Specialty Lending has a 52 week low of $19.50 and a 52 week high of $23.15. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 1.17.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.04. Sixth Street Specialty Lending had a net margin of 39.05% and a return on equity of 13.55%. As a group, equities research analysts anticipate that Sixth Street Specialty Lending will post 2.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods cut their price target on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating for the company in a report on Thursday, November 7th. LADENBURG THALM/SH SH downgraded Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a research report on Friday. Wells Fargo & Company increased their target price on Sixth Street Specialty Lending from $21.00 to $23.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $23.00 price target on shares of Sixth Street Specialty Lending in a report on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.33.

Sixth Street Specialty Lending Company Profile

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.