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

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) declared a dividend on Monday, February 24th, investing.com reports. Shareholders 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 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 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 TSLX opened at $23.47 on Tuesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market cap of $2.20 billion, a PE ratio of 11.56 and a beta of 1.06. Sixth Street Specialty Lending has a 1 year low of $19.50 and a 1 year high of $23.66. The stock’s fifty day moving average price is $21.80 and its two-hundred day moving average price is $21.14.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.61 EPS for the quarter, beating 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 business had revenue of $123.70 million for the quarter, compared to the consensus estimate of $120.07 million. On average, equities research analysts forecast that Sixth Street Specialty Lending will post 2.19 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TSLX. LADENBURG THALM/SH SH cut shares of Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a report on Friday, February 14th. Truist Financial boosted their price objective on Sixth Street Specialty Lending from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. raised their target price on Sixth Street Specialty Lending from $22.50 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. 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 report on Tuesday, November 12th. Finally, Wells Fargo & Company increased their price target on shares of Sixth Street Specialty Lending from $21.00 to $23.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Sixth Street Specialty Lending 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.