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

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) declared a quarterly dividend on Thursday, February 13th, investing.com reports. Stockholders of record on Friday, March 14th will be paid 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 dividend yield of 1.27%. The ex-dividend date 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% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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

Sixth Street Specialty Lending stock opened at $22.09 on Wednesday. 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’s fifty day moving average price is $22.21 and its 200 day moving average price is $21.30. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of 10.88 and a beta of 1.08. Sixth Street Specialty Lending has a 12-month low of $19.50 and a 12-month high of $23.67.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its earnings results on Thursday, February 13th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The business had revenue of $123.70 million for the quarter, compared to analyst estimates of $120.07 million. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 38.67%. On average, research analysts forecast that Sixth Street Specialty Lending will post 2.19 EPS for the current fiscal year.

Analyst Ratings Changes

TSLX has been the subject of several research analyst reports. LADENBURG THALM/SH SH cut Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a research note on Friday, February 14th. Keefe, Bruyette & Woods lifted their price target on Sixth Street Specialty Lending from $21.50 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Royal Bank of Canada boosted their target price on shares of Sixth Street Specialty Lending from $23.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Wells Fargo & Company increased their price target on Sixth Street Specialty Lending from $21.00 to $23.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Finally, Truist Financial lifted their price objective on shares of 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. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.07.

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.