Sixth Street Specialty Lending, Inc. Plans Dividend of $0.05 (NYSE:TSLX)

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) declared a dividend on Saturday, November 23rd,investing.com reports. Shareholders of record on Monday, December 2nd will be paid a dividend of 0.05 per share by the financial services provider on Friday, December 20th. This represents a yield of 7.84%. The ex-dividend date of this dividend is Friday, November 29th.

Sixth Street Specialty Lending has a payout ratio of 82.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Sixth Street Specialty Lending to earn $2.23 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 82.5%.

Sixth Street Specialty Lending Stock Up 1.1 %

Sixth Street Specialty Lending stock traded up $0.22 during mid-day trading on Friday, hitting $20.78. The company had a trading volume of 371,501 shares, compared to its average volume of 381,053. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of 10.09 and a beta of 1.06. Sixth Street Specialty Lending has a 1 year low of $19.50 and a 1 year high of $22.35. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 1.17. The business has a fifty day moving average of $20.49 and a 200 day moving average of $21.00.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. The company had revenue of $119.22 million for the quarter, compared to analyst estimates of $119.85 million. Sixth Street Specialty Lending had a net margin of 39.05% and a return on equity of 13.55%. During the same period in the prior year, the firm posted $0.60 earnings per share. On average, sell-side analysts expect that Sixth Street Specialty Lending will post 2.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TSLX. Wells Fargo & Company lowered their target price on shares of Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. LADENBURG THALM/SH SH raised Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price target for the company in a report on Wednesday, November 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 price target on shares of Sixth Street Specialty Lending in a report on Tuesday, November 12th. Finally, Keefe, Bruyette & Woods decreased their price target on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating for the company in a report on Thursday, November 7th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $22.00.

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.