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

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) announced a dividend on Monday, February 24th, investing.com reports. Stockholders of record on Monday, March 3rd will be paid 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 is Friday, February 28th. This is a boost 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. 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 Stock Down 0.0 %

Shares of Sixth Street Specialty Lending stock traded down $0.00 on Monday, reaching $23.47. 588,395 shares of the company were exchanged, compared to its average volume of 372,093. Sixth Street Specialty Lending has a one year low of $19.50 and a one year high of $23.66. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of 11.56 and a beta of 1.06. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 1.18. The company has a 50-day moving average of $21.80 and a 200 day moving average of $21.14.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings data 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. 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 analysts’ expectations of $120.07 million. On average, equities research analysts forecast that Sixth Street Specialty Lending will post 2.19 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on TSLX. Truist Financial increased 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. Keefe, Bruyette & Woods increased 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. 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. Wells Fargo & Company increased 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. Finally, JPMorgan Chase & Co. increased 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. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus 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.