Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Plans Dividend of $0.07

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) declared a dividend on Sunday, February 23rd, investing.com reports. Investors of record on Monday, March 3rd will be given a dividend of 0.07 per share by the financial services provider on Thursday, March 20th. This represents a yield of 7.06%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from Sixth Street Specialty Lending’s previous dividend of $0.05.

Sixth Street Specialty Lending has a payout ratio of 82.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. 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 Trading Up 1.8 %

TSLX traded up $0.43 during midday trading on Friday, hitting $23.50. The company’s stock had a trading volume of 2,303,057 shares, compared to its average volume of 302,124. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 1.18. Sixth Street Specialty Lending has a 52-week low of $19.50 and a 52-week high of $23.66. The firm has a market cap of $2.20 billion, a P/E ratio of 11.57 and a beta of 1.06. The firm has a 50-day moving average price of $21.74 and a two-hundred day moving average price of $21.12.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its earnings results on Thursday, February 13th. The financial services provider reported $0.61 earnings per share (EPS) 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 company had revenue of $123.70 million for the quarter, compared to analyst estimates of $120.07 million. On average, research analysts anticipate that Sixth Street Specialty Lending will post 2.19 earnings per share for the current year.

Analysts Set New Price Targets

TSLX has been the subject of several recent analyst reports. Keefe, Bruyette & Woods increased their price target on Sixth Street Specialty Lending from $21.50 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 target price on shares of Sixth Street Specialty Lending in a research note on Tuesday, November 12th. LADENBURG THALM/SH SH cut Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a research note on Friday, February 14th. Truist Financial raised their target price on Sixth Street Specialty Lending from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company raised their target price on Sixth Street Specialty Lending from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.