Sixth Street Specialty Lending, Inc. Plans — Dividend of $0.06 (NYSE:TSLX)

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) declared a — dividend on Thursday, May 2nd, Wall Street Journal reports. Stockholders of record on Friday, June 14th will be given a dividend of 0.06 per share by the financial services provider on Friday, June 28th. This represents a dividend yield of 8.8%. The ex-dividend date of this dividend is Friday, June 14th.

Sixth Street Specialty Lending has increased its dividend by an average of 6.9% annually over the last three years and has raised its dividend every year for the last 2 years. Sixth Street Specialty Lending has a dividend payout ratio of 81.1% 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 $2.26 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 81.4%.

Sixth Street Specialty Lending Price Performance

TSLX opened at $21.01 on Friday. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 8.47 and a beta of 1.03. The company has a quick ratio of 1.66, a current ratio of 2.03 and a debt-to-equity ratio of 1.14. The firm has a 50-day moving average price of $21.11 and a 200-day moving average price of $21.12. Sixth Street Specialty Lending has a twelve month low of $17.31 and a twelve month high of $22.35.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its earnings results on Friday, February 16th. The financial services provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.04. The firm had revenue of $119.50 million during the quarter, compared to the consensus estimate of $115.18 million. Sixth Street Specialty Lending had a net margin of 47.16% and a return on equity of 13.74%. During the same quarter last year, the company earned $0.65 earnings per share. Equities analysts expect that Sixth Street Specialty Lending will post 2.35 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TSLX. JMP Securities reiterated a “market outperform” rating and issued a $22.50 target price on shares of Sixth Street Specialty Lending in a research note on Tuesday, March 26th. Wells Fargo & Company raised their target price on shares of Sixth Street Specialty Lending from $21.00 to $22.50 and gave the company an “overweight” rating in a research note on Monday, January 29th. Royal Bank of Canada increased their price target on shares of Sixth Street Specialty Lending from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Finally, Truist Financial increased their target price on Sixth Street Specialty Lending from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.60.

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.