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

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) declared a quarterly dividend on Thursday, February 13th, investing.com reports. Investors of record on Friday, March 14th will be paid a dividend of 0.07 per share by the financial services provider on Monday, March 31st. This represents a $0.28 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Friday, March 14th. This is a 40.0% increase from Sixth Street Specialty Lending’s previous quarterly 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 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 Trading Down 2.0 %

Shares of Sixth Street Specialty Lending stock opened at $22.09 on Wednesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.90 and a quick ratio of 1.90. Sixth Street Specialty Lending has a 1 year low of $19.50 and a 1 year high of $23.67. The company has a market capitalization of $2.07 billion, a P/E ratio of 10.88 and a beta of 1.08. The business has a 50 day moving average price of $22.21 and a 200 day moving average price of $21.30.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.61 earnings per share 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%. Sell-side analysts anticipate that Sixth Street Specialty Lending will post 2.19 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on TSLX shares. Keefe, Bruyette & Woods boosted their price target on Sixth Street Specialty Lending from $21.50 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. boosted their price target on Sixth Street Specialty Lending from $22.50 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Royal Bank of Canada boosted their price target on Sixth Street Specialty Lending from $23.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Wells Fargo & Company boosted their price target 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. Finally, LADENBURG THALM/SH SH cut shares of Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a research note on Friday, February 14th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $23.07.

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.