Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Plans $0.05 Dividend

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) announced a dividend on Thursday, November 28th,investing.com reports. Stockholders of record on Monday, December 2nd will be given a dividend of 0.05 per share by the financial services provider on Friday, December 20th. This represents a dividend yield of 7.69%. The ex-dividend date is Friday, November 29th.

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. Equities analysts expect Sixth Street Specialty Lending to earn $2.23 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 82.5%.

Sixth Street Specialty Lending Price Performance

Shares of NYSE TSLX traded up $0.25 during midday trading on Thursday, reaching $21.19. 263,393 shares of the stock traded hands, compared to its average volume of 347,850. The stock has a market capitalization of $1.98 billion, a PE ratio of 10.29 and a beta of 1.06. The company’s 50 day moving average is $20.51 and its 200 day moving average is $20.99. Sixth Street Specialty Lending has a one year low of $19.50 and a one year high of $22.35. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.50 and a quick ratio of 2.50.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. The business had revenue of $119.22 million during the quarter, compared to analyst estimates of $119.85 million. Sixth Street Specialty Lending had a net margin of 39.05% and a return on equity of 13.55%. During the same quarter in the previous year, the business posted $0.60 EPS. On average, equities research analysts anticipate that Sixth Street Specialty Lending will post 2.32 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. LADENBURG THALM/SH SH raised shares of Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 target price for the company in a report on Wednesday, November 6th. Keefe, Bruyette & Woods dropped their price target on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Wells Fargo & Company lowered their price objective on Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $23.00 target price on shares of Sixth Street Specialty Lending in a research note on Tuesday, November 12th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Sixth Street Specialty Lending currently has an average rating of “Buy” and an average target price of $22.00.

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.