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

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) declared a dividend on Monday, November 25th,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 7.78%. 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. 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 Trading Up 0.8 %

Shares of NYSE:TSLX opened at $20.94 on Tuesday. The firm has a fifty day moving average of $20.49 and a two-hundred day moving average of $20.99. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 1.17. Sixth Street Specialty Lending has a 12-month low of $19.50 and a 12-month high of $22.35. The firm has a market capitalization of $1.95 billion, a P/E ratio of 10.17 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings data 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. The firm had revenue of $119.22 million during the quarter, compared to analysts’ expectations of $119.85 million. Sixth Street Specialty Lending had a return on equity of 13.55% and a net margin of 39.05%. During the same quarter last year, the firm earned $0.60 earnings per share. On average, equities analysts expect that Sixth Street Specialty Lending will post 2.32 EPS for the current fiscal year.

Analyst Ratings Changes

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