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. Shareholders 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 yield of 1.21%. 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. Equities 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 Down 1.0 %

Shares of Sixth Street Specialty Lending stock traded down $0.23 during midday trading on Tuesday, hitting $23.22. The company had a trading volume of 461,586 shares, compared to its average volume of 374,590. The stock has a market capitalization of $2.17 billion, a P/E ratio of 11.44 and a beta of 1.06. The company has a 50 day moving average of $21.80 and a 200 day moving average of $21.14. Sixth Street Specialty Lending has a 52-week low of $19.50 and a 52-week high of $23.66. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.90 and a current ratio of 1.90.

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on TSLX shares. Truist Financial lifted their target price on Sixth Street Specialty Lending from $23.00 to $24.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. raised their price target on shares of Sixth Street Specialty Lending from $22.50 to $23.00 and gave the company an "overweight" rating in a report on Tuesday, February 18th. LADENBURG THALM/SH SH lowered shares of Sixth Street Specialty Lending from a "buy" rating to a "neutral" rating in a research note on Friday, February 14th. Keefe, Bruyette & Woods increased their price objective 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, February 18th. Finally, Wells Fargo & Company lifted 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. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $22.79.

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.