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 dividend on Thursday, February 27th, investing.com reports. Investors of record on Monday, March 3rd will be paid a dividend of 0.07 per share by the financial services provider on Thursday, March 20th. This represents a yield of 6.99%. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from Sixth Street Specialty Lending's previous 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 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 Down 0.6 %

Shares of NYSE:TSLX traded down $0.14 during mid-day trading on Monday, reaching $23.37. 661,348 shares of the company were exchanged, compared to its average volume of 384,086. Sixth Street Specialty Lending has a 1 year low of $19.50 and a 1 year high of $23.67. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.90 and a quick ratio of 1.90. The firm's 50-day simple moving average is $22.01 and its 200 day simple moving average is $21.21. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of 11.51 and a beta of 1.06.

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 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $123.70 million during the quarter, compared to analysts' expectations of $120.07 million. Equities research analysts forecast that Sixth Street Specialty Lending will post 2.19 EPS for the current year.

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Analyst Ratings Changes

Several analysts have recently issued reports on TSLX shares. JPMorgan Chase & Co. increased their price target on shares of Sixth Street Specialty Lending from $22.50 to $23.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. Wells Fargo & Company increased 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 report on Wednesday, January 29th. Royal Bank of Canada boosted 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, February 26th. Truist Financial upped their price objective on Sixth Street Specialty Lending from $23.00 to $24.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. Finally, Keefe, Bruyette & Woods lifted their target price 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. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Sixth Street Specialty Lending currently 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.