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

Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report) announced 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 dividend on an annualized basis and a dividend yield of 1.19%. 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% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. 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

NYSE:TSLX traded up $0.34 during midday trading on Friday, reaching $23.53. The stock had a trading volume of 373,370 shares, compared to its average volume of 377,674. The stock has a market capitalization of $2.20 billion, a P/E ratio of 11.59 and a beta of 1.06. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.90 and a quick ratio of 1.90. Sixth Street Specialty Lending has a 1-year low of $19.50 and a 1-year high of $23.66. The firm's fifty day simple moving average is $21.96 and its 200-day simple moving average is $21.18.

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Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.04. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 38.67%. The company 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 fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the company. Wells Fargo & Company lifted 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. Keefe, Bruyette & Woods boosted their target price on shares of Sixth Street Specialty Lending from $21.50 to $23.00 and gave the stock an "outperform" rating in a research report 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. JPMorgan Chase & Co. boosted their price objective on shares of Sixth Street Specialty Lending from $22.50 to $23.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Finally, Royal Bank of Canada upped their price objective on shares of Sixth Street Specialty Lending from $23.00 to $25.00 and gave the company an "outperform" rating in a research report on Wednesday. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Sixth Street Specialty Lending presently 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.