Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Raises Dividend to $0.07 Per Share

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) announced a dividend on Saturday, February 22nd, 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 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% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. 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 Performance

Shares of TSLX traded up $0.43 during trading hours on Friday, reaching $23.50. 2,303,057 shares of the company’s stock traded hands, compared to its average volume of 302,124. Sixth Street Specialty Lending has a twelve month low of $19.50 and a twelve month high of $23.66. 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 has a market capitalization of $2.20 billion, a price-to-earnings ratio of 11.57 and a beta of 1.06. The business’s fifty day simple moving average is $21.74 and its two-hundred day simple moving average is $21.11.

Sixth Street Specialty Lending (NYSE:TSLX) last released its earnings results on Thursday, February 13th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The firm had revenue of $123.70 million for the quarter, compared to analyst estimates of $120.07 million. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 38.67%. Analysts predict that Sixth Street Specialty Lending will post 2.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

TSLX has been the topic of several recent research reports. JPMorgan Chase & Co. lifted 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. Keefe, Bruyette & Woods lifted 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. Royal Bank of Canada reissued an “outperform” rating and issued a $23.00 target price on shares of Sixth Street Specialty Lending in a research report on Tuesday, November 12th. Wells Fargo & Company boosted their price target on shares of Sixth Street Specialty Lending from $21.00 to $23.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, Truist Financial boosted their price target on shares of Sixth Street Specialty Lending from $23.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Sixth Street Specialty Lending presently has an average rating of “Moderate Buy” and a consensus price target 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.