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

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) announced a dividend on Sunday, February 23rd, investing.com reports. Investors of record on Monday, March 3rd will be paid 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 of this dividend is Friday, February 28th. This is a boost from Sixth Street Specialty Lending’s previous dividend of $0.05.

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 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 Performance

Shares of NYSE:TSLX opened at $23.50 on Monday. The firm’s 50 day simple moving average is $21.74 and its 200 day simple moving average is $21.12. Sixth Street Specialty Lending has a fifty-two week low of $19.50 and a fifty-two week high of $23.66. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of 11.57 and a beta of 1.06. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.90 and a quick ratio of 1.90.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its earnings results on Thursday, February 13th. The financial services provider reported $0.61 earnings per share for the quarter, topping 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 company had revenue of $123.70 million for the quarter, compared to analyst estimates of $120.07 million. As a group, sell-side analysts forecast that Sixth Street Specialty Lending will post 2.19 earnings per share for the current year.

Analysts Set New Price Targets

TSLX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on Sixth Street Specialty Lending from $22.50 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Keefe, Bruyette & Woods boosted their price objective on Sixth Street Specialty Lending from $21.50 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Truist Financial raised 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $23.00 price target on shares of Sixth Street Specialty Lending in a report on Tuesday, November 12th. Finally, LADENBURG THALM/SH SH downgraded shares of Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a research report on Friday, February 14th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.