Sixth Street Specialty Lending, Inc. (NYSE:TSLX – Get Free Report) announced a special dividend on Tuesday, November 3rd. Investors of record on Monday, November 30th will be given a dividend of $0.01 per share by the financial services provider on Monday, December 21st. The ex-dividend date is Monday, November 30th.
Sixth Street Specialty Lending has a dividend payout ratio of 75.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Sixth Street Specialty Lending to earn $1.84 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 91.3%.
Sixth Street Specialty Lending Stock Down 0.2%
Shares of TSLX opened at $17.86 on Thursday. Sixth Street Specialty Lending has a 52-week low of $16.04 and a 52-week high of $22.84. The company has a quick ratio of 9.83, a current ratio of 9.83 and a debt-to-equity ratio of 1.24. The business has a fifty day moving average of $17.81 and a 200 day moving average of $18.20. The company has a market cap of $1.70 billion, a PE ratio of 21.27 and a beta of 0.61.
Sixth Street Specialty Lending (NYSE:TSLX – Get Free Report) last issued its earnings results on Tuesday, November 3rd. The financial services provider reported $0.44 EPS for the quarter, hitting analysts’ consensus estimates of $0.44. The business had revenue of $98.96 million for the quarter, compared to the consensus estimate of $97.59 million. Sixth Street Specialty Lending had a net margin of 19.81% and a return on equity of 10.91%. On average, sell-side analysts expect that Sixth Street Specialty Lending will post 1.74 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in TSLX. Latitude Advisors LLC bought a new stake in shares of Sixth Street Specialty Lending during the third quarter valued at approximately $39,000. Burk Holdings LLC acquired a new position in Sixth Street Specialty Lending during the second quarter worth about $51,000. Fifth Third Bancorp bought a new stake in shares of Sixth Street Specialty Lending in the 1st quarter worth approximately $63,000. Frazier Financial Advisors LLC bought a new stake in shares of Sixth Street Specialty Lending during the 2nd quarter worth $83,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in shares of Sixth Street Specialty Lending in the 2nd quarter valued at $96,000. 70.25% of the stock is currently owned by institutional investors and hedge funds.
Sixth Street Specialty Lending Company Profile
Sixth Street Specialty Lending, Inc is a business development company (BDC) that provides financing to middle-market companies. The company primarily invests in privately negotiated debt and equity investments, with a focus on supporting businesses that may have limited access to traditional bank financing.
Its investment portfolio generally includes first-lien and second-lien loans, unitranche financing, mezzanine debt, and related equity investments. Sixth Street Specialty Lending seeks to generate income through interest payments and other investment returns while providing customized financing solutions for acquisitions, recapitalizations, refinancings, growth initiatives, and other corporate purposes.
The company was formed in 2011 and is externally managed by an affiliate of Sixth Street, an investment firm focused on credit and other asset classes.
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