Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Announces $0.06 -- Dividend

Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report) declared a -- dividend on Friday, May 2nd, Wall Street Journal reports. Stockholders of record on Monday, June 16th will be given a dividend of 0.06 per share by the financial services provider on Monday, June 30th. This represents a dividend yield of 8.9%. The ex-dividend date is Monday, June 16th.

Sixth Street Specialty Lending has a payout ratio of 82.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. 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 TSLX traded up $0.07 during trading hours on Wednesday, hitting $20.93. The company's stock had a trading volume of 139,388 shares, compared to its average volume of 358,081. Sixth Street Specialty Lending has a 52-week low of $18.58 and a 52-week high of $23.67. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 10.31 and a beta of 0.82. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.90 and a quick ratio of 1.90. The business has a 50 day simple moving average of $21.37 and a two-hundred day simple moving average of $21.39.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.02. Sixth Street Specialty Lending had a net margin of 38.67% and a return on equity of 13.47%. The firm had revenue of $113.92 billion during the quarter, compared to analyst estimates of $116.70 million. During the same period in the previous year, the business earned $0.52 EPS. On average, equities analysts expect that Sixth Street Specialty Lending will post 2.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on TSLX shares. Royal Bank of Canada increased their price target on shares of Sixth Street Specialty Lending from $23.00 to $25.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. LADENBURG THALM/SH SH lowered shares of Sixth Street Specialty Lending from a "buy" rating to a "neutral" rating in a report on Friday, February 14th. Raymond James cut their price target on shares of Sixth Street Specialty Lending from $24.00 to $23.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Wells Fargo & Company dropped their target price on shares of Sixth Street Specialty Lending from $23.00 to $22.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Finally, JPMorgan Chase & Co. dropped their price objective on Sixth Street Specialty Lending from $23.00 to $21.50 and set an "overweight" rating for the company in a report on Thursday, April 24th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Sixth Street Specialty Lending 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.