Sixth Street Specialty Lending, Inc. (NYSE:TSLX) to Issue Quarterly Dividend of $0.07

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 given 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 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 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 Performance

Shares of NYSE:TSLX traded down $0.05 during trading on Wednesday, hitting $22.04. 61,392 shares of the stock traded hands, compared to its average volume of 396,214. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 1.18. The company has a fifty day moving average price of $22.21 and a two-hundred day moving average price of $21.30. Sixth Street Specialty Lending has a 52-week low of $19.50 and a 52-week high of $23.67. The company has a market cap of $2.06 billion, a price-to-earnings ratio of 10.85 and a beta of 1.08.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $120.07 million. As a group, equities analysts predict that Sixth Street Specialty Lending will post 2.19 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TSLX. Royal Bank of Canada increased their price target on Sixth Street Specialty Lending from $23.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Truist Financial increased their target price on Sixth Street Specialty Lending from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Keefe, Bruyette & Woods boosted their price target 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. LADENBURG THALM/SH SH downgraded shares of Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a report on Friday, February 14th. Finally, Wells Fargo & Company lifted their target price on shares of Sixth Street Specialty Lending from $21.00 to $23.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $23.07.

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.