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

Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report) declared a dividend on Saturday, May 24th, investing.com reports. Stockholders of record on Monday, June 2nd will be paid a dividend of 0.06 per share by the financial services provider on Friday, June 20th. This represents a dividend yield of 9.21%. The ex-dividend date of this dividend is Friday, May 30th.

Sixth Street Specialty Lending has a dividend 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 tumble. 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 NYSE:TSLX traded up $0.39 during trading on Tuesday, hitting $22.98. The stock had a trading volume of 511,717 shares, compared to its average volume of 367,886. Sixth Street Specialty Lending has a 12-month low of $18.58 and a 12-month high of $23.67. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of 11.32 and a beta of 0.82. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 1.18. The stock has a 50-day simple moving average of $21.32 and a two-hundred day simple moving average of $21.58.

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

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. B. Riley assumed coverage on Sixth Street Specialty Lending in a research report on Tuesday, May 13th. They set a "buy" rating and a $23.00 price target for the company. Keefe, Bruyette & Woods raised their price objective on Sixth Street Specialty Lending from $21.50 to $23.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. Wells Fargo & Company dropped their price objective on Sixth Street Specialty Lending from $23.00 to $22.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. LADENBURG THALM/SH SH lowered Sixth Street Specialty Lending from a "buy" rating to a "neutral" rating in a research note on Friday, February 14th. Finally, JPMorgan Chase & Co. dropped their target price on shares of 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 equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $22.81.

Institutional Investors Weigh In On Sixth Street Specialty Lending

An institutional investor recently raised its position in Sixth Street Specialty Lending stock. Royal Bank of Canada raised its holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) by 8.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 124,241 shares of the financial services provider's stock after purchasing an additional 9,230 shares during the quarter. Royal Bank of Canada owned 0.13% of Sixth Street Specialty Lending worth $2,780,000 as of its most recent SEC filing. 70.25% of the stock is owned by hedge funds and other institutional investors.

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.