Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Announces Dividend Increase – $0.07 Per Share

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) declared a dividend on Saturday, February 22nd, investing.com reports. Stockholders of record on Monday, March 3rd will be paid a dividend of 0.07 per share by the financial services provider on Thursday, March 20th. This represents a dividend yield of 7.06%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from Sixth Street Specialty Lending’s previous dividend of $0.05.

Sixth Street Specialty Lending has a payout ratio of 82.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Sixth Street Specialty Lending to earn $2.16 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 85.2%.

Sixth Street Specialty Lending Stock Performance

Shares of Sixth Street Specialty Lending stock opened at $23.50 on Friday. The business has a 50-day simple moving average of $21.74 and a 200-day simple moving average of $21.11. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market cap of $2.20 billion, a PE ratio of 11.57 and a beta of 1.06. Sixth Street Specialty Lending has a one year low of $19.50 and a one year high of $23.66.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.04. The business had revenue of $123.70 million during the quarter, compared to the consensus estimate of $120.07 million. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 38.67%. On average, equities research analysts forecast that Sixth Street Specialty Lending will post 2.19 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on TSLX shares. Keefe, Bruyette & Woods increased their price objective on Sixth Street Specialty Lending from $21.50 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $23.00 target price on shares of Sixth Street Specialty Lending in a report on Tuesday, November 12th. JPMorgan Chase & Co. increased their price objective on Sixth Street Specialty Lending from $22.50 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Truist Financial increased their price objective on Sixth Street Specialty Lending from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Finally, LADENBURG THALM/SH SH lowered Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a research note on Friday, February 14th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.79.

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.