Sixth Street Specialty Lending, Inc. to Issue — Dividend of $0.05 (NYSE:TSLX)

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) announced a — dividend on Wednesday, November 6th,Wall Street Journal reports. Stockholders of record on Monday, December 16th will be paid a dividend of 0.05 per share by the financial services provider on Tuesday, December 31st. This represents a dividend yield of 9.1%. The ex-dividend date is Monday, December 16th.

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 fall. Research analysts expect Sixth Street Specialty Lending to earn $2.22 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 82.9%.

Sixth Street Specialty Lending Price Performance

TSLX stock opened at $21.37 on Friday. The firm has a 50 day moving average of $20.72 and a 200-day moving average of $20.99. The firm has a market capitalization of $1.99 billion, a P/E ratio of 10.37 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. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 1.17.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. The firm had revenue of $119.22 million during the quarter, compared to the consensus estimate of $119.85 million. Sixth Street Specialty Lending had a net margin of 39.05% and a return on equity of 13.55%. During the same period last year, the firm earned $0.60 EPS. As a group, sell-side analysts predict that Sixth Street Specialty Lending will post 2.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TSLX. Royal Bank of Canada restated an “outperform” rating and issued a $23.00 target price on shares of Sixth Street Specialty Lending in a research note on Tuesday, November 12th. LADENBURG THALM/SH SH raised Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Wednesday, November 6th. Wells Fargo & Company lowered their target price on shares of 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, Keefe, Bruyette & Woods cut their price target on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $22.00.

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.