Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Plans Quarterly Dividend of $0.46

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) declared a quarterly dividend on Friday, February 14th,Wall Street Journal reports. Stockholders of record on Friday, March 14th will be given a dividend of 0.46 per share by the financial services provider on Monday, March 31st. This represents a $1.84 annualized dividend and a dividend yield of 8.01%. The ex-dividend date is Friday, March 14th. This is a positive change from Sixth Street Specialty Lending’s previous quarterly dividend of $0.05.

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. Equities research analysts expect Sixth Street Specialty Lending to earn $2.22 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 82.9%.

Sixth Street Specialty Lending Stock Performance

NYSE TSLX opened at $22.97 on Friday. The company has a market cap of $2.14 billion, a P/E ratio of 11.15 and a beta of 1.06. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.50 and a current ratio of 2.50. The business’s 50 day moving average price is $21.54 and its 200-day moving average price is $21.00. Sixth Street Specialty Lending has a fifty-two week low of $19.50 and a fifty-two week high of $23.15.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.61 EPS for the quarter, beating the consensus estimate of $0.57 by $0.04. Sixth Street Specialty Lending had a return on equity of 13.55% and a net margin of 39.05%. Sell-side analysts predict that Sixth Street Specialty Lending will post 2.31 earnings per share for the current year.

Analysts Set New Price Targets

TSLX has been the topic of several research analyst reports. Wells Fargo & Company upped their price objective on Sixth Street Specialty Lending from $21.00 to $23.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $23.00 price objective on shares of Sixth Street Specialty Lending in a research report on Tuesday, November 12th. LADENBURG THALM/SH SH downgraded Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a research report on Friday. Finally, Keefe, Bruyette & Woods lowered their target price on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating for the company in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.33.

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.