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

Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report) declared a quarterly dividend on Thursday, February 13th, investing.com reports. Stockholders of record on Friday, March 14th will be given a dividend of 0.07 per share by the financial services provider on Monday, March 31st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Friday, March 14th. This is a positive change from Sixth Street Specialty Lending's previous quarterly dividend of $0.05.

Sixth Street Specialty Lending has a dividend 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 Price Performance

Shares of NYSE TSLX traded up $0.09 during trading on Wednesday, hitting $23.27. 316,693 shares of the company were exchanged, compared to its average volume of 373,024. Sixth Street Specialty Lending has a 1 year low of $19.50 and a 1 year high of $23.66. The company has a market cap of $2.18 billion, a price-to-earnings ratio of 11.46 and a beta of 1.06. The firm's fifty day moving average price is $21.85 and its 200 day moving average price is $21.15. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.90 and a quick ratio of 1.90.

Remove Ads

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.61 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.04. The firm had revenue of $123.70 million for the quarter, compared to analysts' expectations of $120.07 million. Sixth Street Specialty Lending had a net margin of 38.67% and a return on equity of 13.47%. On average, sell-side analysts expect that Sixth Street Specialty Lending will post 2.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TSLX has been the topic of a number of analyst reports. Truist Financial increased 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. LADENBURG THALM/SH SH downgraded shares of Sixth Street Specialty Lending from a "buy" rating to a "neutral" rating in a report on Friday, February 14th. Wells Fargo & Company raised their target price on shares of 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. Keefe, Bruyette & Woods boosted their price target on Sixth Street Specialty Lending from $21.50 to $23.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. raised their price objective on Sixth Street Specialty Lending from $22.50 to $23.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Sixth Street Specialty Lending has a consensus rating of "Moderate Buy" and a consensus price target of $23.07.

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.