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

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) declared a dividend on Tuesday, November 26th,investing.com reports. Stockholders 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 dividend yield of 7.78%. The ex-dividend date of this dividend is Friday, November 29th.

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 tumble. 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 NYSE:TSLX traded up $0.17 during trading on Wednesday, reaching $21.11. 18,674 shares of the company’s stock traded hands, compared to its average volume of 346,748. The stock has a market capitalization of $1.97 billion, a P/E ratio of 10.17 and a beta of 1.06. Sixth Street Specialty Lending has a 12 month low of $19.50 and a 12 month high of $22.35. The company has a 50 day moving average of $20.49 and a 200-day moving average of $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 (NYSE:TSLX) last announced its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share 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 period in the prior year, the firm earned $0.60 EPS. On average, equities analysts expect that Sixth Street Specialty Lending will post 2.32 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Wells Fargo & Company cut their target price 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 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 dropped their price target on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Finally, Royal Bank of Canada reiterated 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 analysts have rated the stock with a buy rating, According to MarketBeat, the company presently 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.