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

Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report) declared a quarterly dividend on Wednesday, May 1st, Zacks reports. Shareholders 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 annualized dividend and a 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 dividend 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 tumble. 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 Price Performance

NYSE TSLX traded up $0.11 during trading hours on Friday, hitting $21.01. The company had a trading volume of 469,704 shares, compared to its average volume of 411,090. Sixth Street Specialty Lending has a 52 week low of $17.31 and a 52 week high of $22.35. The firm has a market capitalization of $1.93 billion, a price-to-earnings 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. The firm has a 50 day simple moving average of $21.13 and a 200 day simple moving average of $21.11.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last posted its quarterly earnings data on Friday, February 16th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.04. The company had revenue of $119.50 million during the quarter, compared to analyst estimates of $115.18 million. Sixth Street Specialty Lending had a return on equity of 13.98% and a net margin of 47.16%. During the same quarter last year, the company earned $0.65 earnings per share. Equities research analysts expect that Sixth Street Specialty Lending will post 2.35 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TSLX. Royal Bank of Canada raised their price objective on Sixth Street Specialty Lending from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Friday, February 23rd. Truist Financial increased their target price on Sixth Street Specialty Lending from $22.00 to $23.00 and gave the company a "buy" rating in a report on Tuesday, February 20th. JMP Securities reaffirmed a "market outperform" rating and issued a $22.50 price target on shares of Sixth Street Specialty Lending in a research note on Tuesday, March 26th. Finally, Wells Fargo & Company boosted their price objective on Sixth Street Specialty Lending from $21.00 to $22.50 and gave the company an "overweight" rating in a research report 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 MarketBeat.com, Sixth Street Specialty Lending currently has a consensus rating of "Moderate Buy" and an average target price of $22.60.

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.