Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Plans $0.06 Quarterly Dividend

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) declared a quarterly dividend on Wednesday, May 1st, Zacks reports. Stockholders of record on Friday, May 31st will be paid a dividend of 0.06 per share by the financial services provider on Thursday, June 20th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date is Friday, May 31st.

Sixth Street Specialty Lending has increased its dividend by an average of 6.9% per year over the last three years and has raised its dividend every year for the last 2 years. Sixth Street Specialty Lending has a payout ratio of 81.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Sixth Street Specialty Lending to earn $2.26 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 81.4%.

Sixth Street Specialty Lending Stock Up 0.7 %

TSLX traded up $0.15 during trading on Friday, hitting $21.04. The stock had a trading volume of 377,830 shares, compared to its average volume of 409,611. The stock has a 50 day simple moving average of $21.13 and a two-hundred day simple moving average of $21.11. The company has a market capitalization of $1.94 billion, a PE ratio of 8.44 and a beta of 1.03. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.66 and a current ratio of 1.66. Sixth Street Specialty Lending has a twelve month low of $17.31 and a twelve month high of $22.35.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its quarterly earnings results on Friday, February 16th. The financial services provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. Sixth Street Specialty Lending had a return on equity of 13.98% and a net margin of 47.16%. The company had revenue of $119.50 million during the quarter, compared to analysts’ expectations of $115.18 million. During the same quarter in the previous year, the firm posted $0.65 EPS. On average, research analysts predict that Sixth Street Specialty Lending will post 2.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

TSLX has been the subject of several recent analyst reports. Truist Financial lifted their price target on Sixth Street Specialty Lending from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. Wells Fargo & Company raised their price target on shares of Sixth Street Specialty Lending from $21.00 to $22.50 and gave the stock an “overweight” rating in a research note on Monday, January 29th. Royal Bank of Canada boosted their price target on shares of Sixth Street Specialty Lending from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Finally, JMP Securities reissued a “market outperform” rating and set a $22.50 target price on shares of Sixth Street Specialty Lending in a research note on Tuesday, March 26th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.60.

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.