Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Announces Dividend Increase - $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. Investors 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 yield of 1.20%. The ex-dividend date is Friday, March 14th. This is an increase from Sixth Street Specialty Lending's previous quarterly dividend of $0.05.

Sixth Street Specialty Lending has a dividend 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 tumble. Equities 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 Trading Up 0.4 %

Shares of NYSE:TSLX traded up $0.09 during trading on Wednesday, reaching $23.27. 316,694 shares of the company traded hands, compared to its average volume of 373,030. The business's fifty day moving average is $21.85 and its 200-day moving average is $21.15. Sixth Street Specialty Lending has a 52-week low of $19.50 and a 52-week high of $23.66. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of 11.46 and a beta of 1.06.

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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, topping the consensus estimate of $0.57 by $0.04. The business had revenue of $123.70 million during the quarter, compared to analyst estimates of $120.07 million. Sixth Street Specialty Lending had a net margin of 38.67% and a return on equity of 13.47%. As a group, analysts forecast that Sixth Street Specialty Lending will post 2.19 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on TSLX. Royal Bank of Canada increased their price target on shares of Sixth Street Specialty Lending from $23.00 to $25.00 and gave the stock an "outperform" rating in a research note on Wednesday. Wells Fargo & Company lifted their target price on shares of Sixth Street Specialty Lending from $21.00 to $23.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. upped their price target on Sixth Street Specialty Lending from $22.50 to $23.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. Keefe, Bruyette & Woods raised their price objective on Sixth Street Specialty Lending from $21.50 to $23.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Finally, LADENBURG THALM/SH SH downgraded Sixth Street Specialty Lending from a "buy" rating to a "neutral" rating in a report on Friday, February 14th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average 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.