Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Raises Dividend to $0.06 Per Share

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) declared a — dividend on Thursday, May 1st, Wall Street Journal reports. Shareholders 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 yield of 8.9%. The ex-dividend date is Monday, June 16th. This is a 20.0% increase from Sixth Street Specialty Lending’s previous — dividend of $0.05.

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 decline. Equities research 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

TSLX opened at $23.32 on Friday. Sixth Street Specialty Lending has a 12-month low of $18.58 and a 12-month high of $23.75. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $2.19 billion, a PE ratio of 11.49 and a beta of 0.83. The firm has a 50 day moving average of $21.64 and a two-hundred day moving average of $21.81.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping 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 company had revenue of $113.92 billion during the quarter, compared to analyst estimates of $116.70 million. During the same period last year, the firm posted $0.52 EPS. On average, analysts anticipate that Sixth Street Specialty Lending will post 2.19 EPS for the current year.

Institutional Investors Weigh In On Sixth Street Specialty Lending

An institutional investor recently raised its position in Sixth Street Specialty Lending stock. Integrated Wealth Concepts LLC increased its stake in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 38.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,539 shares of the financial services provider’s stock after acquiring an additional 4,597 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Sixth Street Specialty Lending were worth $370,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 70.25% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on TSLX shares. JPMorgan Chase & Co. reduced their price target on shares of 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. 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. B. Riley began coverage on shares of Sixth Street Specialty Lending in a report on Tuesday, May 13th. They set a “buy” rating and a $23.00 target price for the company. Truist Financial lifted their target price on shares of Sixth Street Specialty Lending from $23.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Finally, Wells Fargo & Company cut 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. 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 company. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target 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.