Sixth Street Specialty Lending, Inc. (NYSE:TSLX) to Issue $0.06 Dividend

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) announced a dividend on Saturday, May 25th, investing.com reports. Shareholders of record on Monday, June 3rd will be paid a dividend of 0.06 per share by the financial services provider on Thursday, June 20th. This represents a yield of 7.61%. The ex-dividend date is Friday, May 31st.

Sixth Street Specialty Lending has increased its dividend by an average of 6.9% annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Sixth Street Specialty Lending has a 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 $2.24 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 82.1%.

Sixth Street Specialty Lending Stock Up 1.6 %

Shares of NYSE TSLX opened at $21.69 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.03 and a quick ratio of 2.03. The company has a market cap of $2.01 billion, a P/E ratio of 8.75 and a beta of 1.03. Sixth Street Specialty Lending has a 1 year low of $17.80 and a 1 year high of $22.35. The firm has a 50-day simple moving average of $21.15 and a two-hundred day simple moving average of $21.30.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.02). The firm had revenue of $117.78 million during the quarter, compared to the consensus estimate of $118.44 million. Sixth Street Specialty Lending had a return on equity of 13.74% and a net margin of 47.16%. Research analysts anticipate that Sixth Street Specialty Lending will post 2.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

TSLX has been the subject of several analyst reports. JMP Securities reissued a “market outperform” rating and issued a $22.50 price objective on shares of Sixth Street Specialty Lending in a research note on Tuesday, March 26th. Keefe, Bruyette & Woods decreased their price objective on shares of Sixth Street Specialty Lending from $23.50 to $23.00 and set an “outperform” rating for the company in a research note on Monday, May 6th. Truist Financial raised their target price on shares of Sixth Street Specialty Lending from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, February 20th. Wells Fargo & Company raised their target price on shares of Sixth Street Specialty Lending from $21.00 to $22.50 and gave the stock an “overweight” rating in a research report on Monday, January 29th. Finally, Royal Bank of Canada raised their target price on shares of Sixth Street Specialty Lending from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.67.

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.