Sixth Street Specialty Lending, Inc. (TSLX) to Issue — Dividend of $0.06 on June 28th

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) declared a — dividend on Friday, May 3rd, Wall Street Journal reports. Investors of record on Friday, June 14th will be paid a dividend of 0.06 per share by the financial services provider on Friday, June 28th. This represents a yield of 8.8%. The ex-dividend date is Friday, June 14th.

Sixth Street Specialty Lending has increased its dividend payment by an average of 6.9% per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Sixth Street Specialty Lending has a payout ratio of 81.1% meaning 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 $2.22 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 Up 0.6 %

Shares of TSLX stock opened at $21.01 on Friday. Sixth Street Specialty Lending has a 52-week low of $17.31 and a 52-week high of $22.35. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.66 and a current ratio of 2.03. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 8.47 and a beta of 1.03. The firm’s 50-day moving average is $21.11 and its 200-day moving average is $21.12.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings data on Friday, February 16th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The company had revenue of $119.50 million during the quarter, compared to analysts’ expectations of $115.18 million. Sixth Street Specialty Lending had a return on equity of 13.74% and a net margin of 47.16%. During the same period last year, the firm posted $0.65 earnings per share. Sell-side analysts predict that Sixth Street Specialty Lending will post 2.35 EPS for the current year.

Wall Street Analysts Forecast Growth

TSLX has been the topic of several research analyst reports. Truist Financial increased their price objective on shares of Sixth Street Specialty Lending from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, February 20th. Royal Bank of Canada boosted their price objective on Sixth Street Specialty Lending from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. JMP Securities reiterated 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. Finally, Wells Fargo & Company boosted their price target on Sixth Street Specialty Lending from $21.00 to $22.50 and gave the company an “overweight” rating in a research note on Monday, January 29th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.