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

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) announced a dividend on Monday, February 24th, investing.com reports. Stockholders of record on Monday, March 3rd will be given a dividend of 0.07 per share by the financial services provider on Thursday, March 20th. This represents a dividend yield of 7.06%. The ex-dividend date is Friday, February 28th. This is a positive change from Sixth Street Specialty Lending’s previous dividend of $0.05.

Sixth Street Specialty Lending has a dividend 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 decline. 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 0.0 %

Shares of NYSE:TSLX opened at $23.47 on Tuesday. The firm has a market capitalization of $2.20 billion, a PE ratio of 11.56 and a beta of 1.06. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.90 and a current ratio of 1.90. Sixth Street Specialty Lending has a 52-week low of $19.50 and a 52-week high of $23.66. The firm has a fifty day moving average of $21.80 and a 200 day moving average of $21.14.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The firm had revenue of $123.70 million during the quarter, compared to analysts’ expectations of $120.07 million. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 38.67%. As a group, research analysts anticipate that Sixth Street Specialty Lending will post 2.19 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on TSLX shares. LADENBURG THALM/SH SH downgraded shares of Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. increased their target price on shares of 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 reissued an “outperform” rating and issued a $23.00 price target on shares of Sixth Street Specialty Lending in a research note on Tuesday, November 12th. Wells Fargo & Company raised their price objective on Sixth Street Specialty Lending from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods lifted their price objective on Sixth Street Specialty Lending from $21.50 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.79.

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.