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

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) declared a dividend on Wednesday, November 27th,investing.com reports. Shareholders 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 yield of 7.69%. The ex-dividend date of this dividend is Friday, November 29th.

Sixth Street Specialty Lending has a payout ratio of 82.1% indicating that 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 Stock Up 1.2 %

Shares of TSLX stock traded up $0.25 during mid-day trading on Wednesday, hitting $21.19. The stock had a trading volume of 263,387 shares, compared to its average volume of 347,850. Sixth Street Specialty Lending has a 12-month low of $19.50 and a 12-month high of $22.35. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.50 and a quick ratio of 2.50. The firm’s 50-day moving average is $20.51 and its two-hundred day moving average is $20.99. The firm has a market capitalization of $1.98 billion, a P/E ratio of 10.29 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 analysts’ expectations of $119.85 million. During the same period in the prior year, the business earned $0.60 EPS. On average, analysts predict that Sixth Street Specialty Lending will post 2.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. LADENBURG THALM/SH SH raised shares of Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Wednesday, November 6th. Wells Fargo & Company reduced their price target on Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods dropped their price objective on 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. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $23.00 target price on shares of Sixth Street Specialty Lending in a report on Tuesday, November 12th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Sixth Street Specialty Lending 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.