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

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

Sixth Street Specialty Lending has a dividend 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 Stock Up 1.2 %

Shares of TSLX traded up $0.25 during midday trading on Thursday, reaching $21.19. The stock had a trading volume of 263,393 shares, compared to its average volume of 347,850. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 10.29 and a beta of 1.06. The company’s fifty day simple moving average is $20.51 and its two-hundred day simple moving average is $20.99. Sixth Street Specialty Lending has a 1-year low of $19.50 and a 1-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 announced its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. Sixth Street Specialty Lending had a return on equity of 13.55% and a net margin of 39.05%. The firm had revenue of $119.22 million during the quarter, compared to the consensus estimate of $119.85 million. During the same period in the prior year, the company posted $0.60 earnings per share. Equities research analysts expect that Sixth Street Specialty Lending will post 2.32 earnings per share for the current year.

Wall Street Analyst Weigh In

TSLX has been the subject of a number of research reports. Keefe, Bruyette & Woods reduced their price target on shares of 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 dropped their price target 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. LADENBURG THALM/SH SH raised Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Wednesday, November 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $23.00 price objective on shares of Sixth Street Specialty Lending in a research report on Tuesday, November 12th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $22.00.

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.