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

Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report) announced 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 fall. 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 Price Performance

Shares of NYSE:TSLX traded up $0.08 during trading on Thursday, hitting $23.14. 365,347 shares of the stock were exchanged, compared to its average volume of 368,030. The company has a fifty day moving average price of $21.33 and a two-hundred day moving average price of $21.59. The company has a market cap of $2.17 billion, a PE ratio of 11.40 and a beta of 0.82. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 1.18. Sixth Street Specialty Lending has a 12-month low of $18.58 and a 12-month high of $23.67.

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 EPS for the quarter, topping the consensus estimate of $0.56 by $0.02. The business had revenue of $113.92 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the company earned $0.52 EPS. On average, analysts forecast that Sixth Street Specialty Lending will post 2.19 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Sixth Street Specialty Lending stock. Integrated Wealth Concepts LLC lifted its position in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) by 38.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,539 shares of the financial services provider's stock after buying an additional 4,597 shares during the period. Integrated Wealth Concepts LLC's holdings in Sixth Street Specialty Lending were worth $370,000 as of its most recent SEC filing. Institutional investors and hedge funds own 70.25% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on TSLX shares. Truist Financial lifted their price objective on Sixth Street Specialty Lending from $23.00 to $24.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. cut their price objective on Sixth Street Specialty Lending from $23.00 to $21.50 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Raymond James cut their price objective on Sixth Street Specialty Lending from $24.00 to $23.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. LADENBURG THALM/SH SH downgraded Sixth Street Specialty Lending from a "buy" rating to a "neutral" rating in a research report on Friday, February 14th. Finally, Keefe, Bruyette & Woods lifted their price objective on Sixth Street Specialty Lending from $21.50 to $23.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. One 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 stock. According to MarketBeat.com, Sixth Street Specialty Lending currently has an average rating of "Buy" and an average target price of $22.81.

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.