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

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) announced a dividend on Wednesday, November 27th,investing.com reports. Shareholders of record on Monday, December 2nd will be given 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 decline. Research 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 Performance

Shares of TSLX traded up $0.25 during midday trading on Wednesday, reaching $21.19. 263,387 shares of the stock were exchanged, compared to its average volume of 347,850. The business’s 50-day moving average price is $20.49 and its 200 day moving average price is $20.99. 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 has a twelve month low of $19.50 and a twelve month high of $22.35. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 10.25 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its earnings results on Tuesday, November 5th. The financial services provider reported $0.57 EPS for the quarter, hitting 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 business had revenue of $119.22 million for the quarter, compared to analysts’ expectations of $119.85 million. During the same quarter in the previous year, the firm earned $0.60 earnings per share. On average, sell-side analysts expect that Sixth Street Specialty Lending will post 2.32 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on TSLX shares. LADENBURG THALM/SH SH upgraded Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Wednesday, November 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 target price on shares of Sixth Street Specialty Lending in a research report on Tuesday, November 12th. Wells Fargo & Company lowered their price target on Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods lowered their price target on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $22.00.

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.