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

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) declared a — dividend on Wednesday, November 6th,Wall Street Journal reports. Stockholders of record on Monday, December 16th will be paid a dividend of 0.05 per share by the financial services provider on Tuesday, December 31st. This represents a dividend yield of 9.1%. The ex-dividend date of this dividend is Monday, December 16th.

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. 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 $19.80 on Friday. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 9.61 and a beta of 1.06. Sixth Street Specialty Lending has a fifty-two week low of $19.50 and a fifty-two week high of $22.35. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.90 and a current ratio of 2.50. The company has a fifty day moving average of $20.66 and a 200 day moving average of $21.07.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its earnings results on Tuesday, November 5th. The financial services provider reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. The company had revenue of $119.22 million for the quarter, compared to the consensus estimate of $119.85 million. Sixth Street Specialty Lending had a return on equity of 13.55% and a net margin of 39.05%. During the same period in the previous year, the business earned $0.60 earnings per share. As a group, sell-side analysts forecast that Sixth Street Specialty Lending will post 2.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TSLX. Keefe, Bruyette & Woods cut their target price on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating for the company in a report on Thursday. Royal Bank of Canada restated an “outperform” rating and issued a $23.00 target price on shares of Sixth Street Specialty Lending in a report on Thursday, August 15th. LADENBURG THALM/SH SH raised shares of 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. Finally, Wells Fargo & Company reduced their price objective on Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently 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.