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

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) announced a quarterly dividend on Thursday, February 13th, investing.com reports. Shareholders 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 yield of 1.27%. The ex-dividend date of this dividend 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. Equities 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 Stock Down 2.0 %

Shares of NYSE:TSLX opened at $22.09 on Wednesday. Sixth Street Specialty Lending has a 52 week low of $19.50 and a 52 week high of $23.67. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market capitalization of $2.07 billion, a PE ratio of 10.88 and a beta of 1.08. The company has a 50 day moving average price of $22.21 and a two-hundred day moving average price of $21.30.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its earnings results on Thursday, February 13th. The financial services provider reported $0.61 EPS for the quarter, beating the consensus estimate of $0.57 by $0.04. Sixth Street Specialty Lending had a net margin of 38.67% and a return on equity of 13.47%. The firm had revenue of $123.70 million during the quarter, compared to the consensus estimate of $120.07 million. Analysts forecast that Sixth Street Specialty Lending will post 2.19 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company increased their price objective on shares of 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. Royal Bank of Canada increased their target price on shares of Sixth Street Specialty Lending from $23.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Keefe, Bruyette & Woods increased their target price on shares of Sixth Street Specialty Lending from $21.50 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Truist Financial increased their target price on shares of Sixth Street Specialty Lending from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Finally, LADENBURG THALM/SH SH cut shares of Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a report on Friday, February 14th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Sixth Street Specialty Lending presently 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.