Sixth Street Specialty Lending, Inc. to Issue — Dividend of $0.06 (NYSE:TSLX)

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) declared a — dividend on Thursday, May 2nd, Wall Street Journal reports. Shareholders of record on Friday, June 14th will be paid a dividend of 0.06 per share by the financial services provider on Friday, June 28th. This represents a yield of 8.8%. The ex-dividend date is Friday, June 14th.

Sixth Street Specialty Lending has raised its dividend by an average of 6.9% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Sixth Street Specialty Lending has a dividend payout ratio of 81.1% 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 $2.26 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 81.4%.

Sixth Street Specialty Lending Stock Down 4.1 %

Shares of NYSE:TSLX traded down $0.89 on Thursday, reaching $20.89. The company had a trading volume of 1,012,225 shares, compared to its average volume of 410,394. Sixth Street Specialty Lending has a twelve month low of $17.31 and a twelve month high of $22.35. The stock has a 50-day moving average price of $21.15 and a 200 day moving average price of $21.11. The stock has a market capitalization of $1.92 billion, a P/E ratio of 8.38 and a beta of 1.03. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.19.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings data on Friday, February 16th. The financial services provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.04. Sixth Street Specialty Lending had a return on equity of 13.67% and a net margin of 50.69%. The business had revenue of $119.50 million during the quarter, compared to analysts’ expectations of $115.18 million. During the same quarter in the previous year, the firm earned $0.65 EPS. On average, equities analysts expect that Sixth Street Specialty Lending will post 2.35 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Wells Fargo & Company raised their price target on shares of Sixth Street Specialty Lending from $21.00 to $22.50 and gave the stock an “overweight” rating in a research note on Monday, January 29th. JMP Securities restated a “market outperform” rating and set a $22.50 price target on shares of Sixth Street Specialty Lending in a research note on Tuesday, March 26th. Truist Financial raised their price target on shares of Sixth Street Specialty Lending from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, February 20th. Finally, Royal Bank of Canada raised their price target on shares of Sixth Street Specialty Lending from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.60.

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.