Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Plans 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 given a dividend of 0.07 per share by the financial services provider on Monday, March 31st. This represents a $0.28 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend 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 fall. 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 TSLX stock traded down $0.19 during trading hours on Tuesday, hitting $23.26. The company had a trading volume of 283,360 shares, compared to its average volume of 369,396. Sixth Street Specialty Lending has a 12 month low of $19.50 and a 12 month 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. The firm's fifty day moving average is $21.80 and its 200 day moving average is $21.14. 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 released its quarterly earnings data 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 return on equity of 13.47% and a net margin of 38.67%. The firm had revenue of $123.70 million during the quarter, compared to analyst estimates of $120.07 million. On average, sell-side analysts predict that Sixth Street Specialty Lending will post 2.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on TSLX. Royal Bank of Canada restated an "outperform" rating and issued a $23.00 price target on shares of Sixth Street Specialty Lending in a research report on Tuesday, November 12th. Keefe, Bruyette & Woods boosted their target price on Sixth Street Specialty Lending from $21.50 to $23.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. Truist Financial upped their price target on shares of 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. JPMorgan Chase & Co. raised their price objective on shares of Sixth Street Specialty Lending from $22.50 to $23.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Finally, LADENBURG THALM/SH SH downgraded shares of Sixth Street Specialty Lending from a "buy" rating to a "neutral" rating in a research note on Friday, February 14th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $22.79.

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.