Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Declares Dividend Increase – $0.46 Per Share

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) announced a quarterly dividend on Friday, February 14th,Wall Street Journal reports. Stockholders of record on Friday, March 14th will be paid 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 of this dividend is Friday, March 14th. This is a boost from Sixth Street Specialty Lending’s previous quarterly 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 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 Trading Up 2.2 %

Shares of NYSE TSLX opened at $22.97 on Friday. 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 $21.57 and its 200-day moving average price is $21.02. Sixth Street Specialty Lending has a fifty-two week low of $19.50 and a fifty-two week high of $23.15. The company has a market cap of $2.14 billion, a price-to-earnings ratio of 11.15 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.61 earnings per share for the quarter, topping 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%. The firm had revenue of $123.70 million for the quarter, compared to the consensus estimate of $120.07 million. On average, sell-side analysts expect that Sixth Street Specialty Lending will post 2.31 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TSLX. Royal Bank of Canada reiterated an “outperform” rating and issued a $23.00 price target on shares of Sixth Street Specialty Lending in a report on Tuesday, November 12th. LADENBURG THALM/SH SH cut Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a research note on Friday. Wells Fargo & Company increased their price objective on Sixth Street Specialty Lending from $21.00 to $23.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods dropped their price objective on 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. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.