Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Announces Dividend Increase – $0.07 Per Share

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) announced a dividend on Sunday, February 23rd, investing.com reports. Stockholders 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 dividend 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 fall. 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 mid-day trading on Friday, reaching $23.50. The company’s stock had a trading volume of 2,303,057 shares, compared to its average volume of 302,124. Sixth Street Specialty Lending has a 1-year low of $19.50 and a 1-year high of $23.66. The stock has a market cap of $2.20 billion, a P/E ratio of 11.57 and a beta of 1.06. The business has a 50-day simple moving average of $21.74 and a two-hundred day simple moving average of $21.12. 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 (NYSE:TSLX) last released its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.04. The business had revenue of $123.70 million during the quarter, compared to analysts’ expectations of $120.07 million. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 38.67%. As a group, equities research analysts anticipate that Sixth Street Specialty Lending will post 2.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TSLX. LADENBURG THALM/SH SH cut Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a report on Friday, February 14th. JPMorgan Chase & Co. lifted their price target on Sixth Street Specialty Lending from $22.50 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Keefe, Bruyette & Woods lifted their price target on Sixth Street Specialty Lending from $21.50 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Truist Financial lifted their price target 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 lifted their price target 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.