Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Plans $0.05 Dividend

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) declared a dividend on Wednesday, November 27th,investing.com reports. Stockholders of record on Monday, December 2nd will be paid a dividend of 0.05 per share by the financial services provider on Friday, December 20th. This represents a dividend yield of 7.69%. The ex-dividend date of this dividend is Friday, November 29th.

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 fall. Equities analysts expect Sixth Street Specialty Lending to earn $2.23 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 82.5%.

Sixth Street Specialty Lending Stock Up 1.2 %

NYSE TSLX traded up $0.25 on Wednesday, reaching $21.19. 263,387 shares of the stock traded hands, compared to its average volume of 347,850. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.50 and a current ratio of 2.50. The company has a fifty day moving average price of $20.49 and a 200-day moving average price of $20.99. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 10.25 and a beta of 1.06. Sixth Street Specialty Lending has a 12 month low of $19.50 and a 12 month high of $22.35.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. The firm had revenue of $119.22 million during the quarter, compared to analyst estimates of $119.85 million. Sixth Street Specialty Lending had a return on equity of 13.55% and a net margin of 39.05%. During the same period in the previous year, the company posted $0.60 EPS. As a group, research analysts forecast that Sixth Street Specialty Lending will post 2.32 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 price target on shares of Sixth Street Specialty Lending in a research note on Tuesday, November 12th. Keefe, Bruyette & Woods lowered their target price on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Wells Fargo & Company lowered their target price on Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Finally, LADENBURG THALM/SH SH upgraded Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Wednesday, November 6th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $22.00.

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.