Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Plans Quarterly Dividend of $0.46

Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report) announced a quarterly dividend on Friday, February 14th,Wall Street Journal reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.46 per share by the financial services provider on Monday, March 31st. This represents a $1.84 annualized dividend and a yield of 8.02%. The ex-dividend date is Friday, March 14th. This is a boost 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 decline. 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 Stock Performance

TSLX traded down $0.02 during midday trading on Tuesday, hitting $22.95. 125,373 shares of the company were exchanged, compared to its average volume of 290,005. The company's 50 day simple moving average is $21.60 and its 200 day simple moving average is $21.03. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of 11.13 and a beta of 1.06. 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 has a 1-year low of $19.50 and a 1-year high of $23.15.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.04. Sixth Street Specialty Lending had a return on equity of 13.55% and a net margin of 39.05%. The company had revenue of $123.70 million for the quarter, compared to the consensus estimate of $120.07 million. As a group, sell-side analysts predict that Sixth Street Specialty Lending will post 2.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on TSLX shares. JPMorgan Chase & Co. raised their target price on Sixth Street Specialty Lending from $22.50 to $23.00 and gave the company an "overweight" rating in a research report on Tuesday. Wells Fargo & Company raised their target price on 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. LADENBURG THALM/SH SH cut shares of Sixth Street Specialty Lending from a "buy" rating to a "neutral" rating in a research report on Friday. Keefe, Bruyette & Woods lifted their target price on shares of Sixth Street Specialty Lending from $21.50 to $23.00 and gave the company an "outperform" rating in a research report on Tuesday. Finally, Royal Bank of Canada restated 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. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.64.

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.