Sixth Street Specialty Lending, Inc. Declares Dividend of $0.05 (NYSE:TSLX)

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) announced a dividend on Friday, November 22nd,investing.com reports. Stockholders of record on Monday, December 2nd will be given a dividend of 0.05 per share by the financial services provider on Friday, December 20th. This represents a dividend yield of 7.84%. The ex-dividend date of this dividend is Friday, November 29th.

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. Research analysts expect Sixth Street Specialty Lending to earn $2.23 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 82.5%.

Sixth Street Specialty Lending Trading Up 1.1 %

Shares of NYSE:TSLX traded up $0.22 during trading on Friday, reaching $20.78. The stock had a trading volume of 371,360 shares, compared to its average volume of 348,791. The firm’s fifty day moving average is $20.50 and its 200 day moving average is $21.00. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.50 and a current ratio of 2.50. Sixth Street Specialty Lending has a 52 week low of $19.50 and a 52 week high of $22.35. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of 10.11 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX) last released its earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. Sixth Street Specialty Lending had a net margin of 39.05% and a return on equity of 13.55%. The company had revenue of $119.22 million for the quarter, compared to the consensus estimate of $119.85 million. During the same quarter in the previous year, the company earned $0.60 EPS. As a group, equities analysts forecast that Sixth Street Specialty Lending will post 2.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TSLX. Keefe, Bruyette & Woods dropped their target price on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. LADENBURG THALM/SH SH upgraded shares of Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Wednesday, November 6th. Royal Bank of Canada reiterated 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. Finally, Wells Fargo & Company dropped their target price on shares of Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $22.00.

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.