Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Shareholders Set to Receive $0.01 Special Dividend

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) announced a special dividend on Tuesday, November 3rd. Stockholders 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 of this dividend is Monday, November 30th.

Sixth Street Specialty Lending has a dividend payout ratio of 75.0% indicating that 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 Performance

Shares of TSLX stock opened at $17.91 on Wednesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 9.83 and a current ratio of 9.83. The company has a market capitalization of $1.70 billion, a P/E ratio of 9.56 and a beta of 0.61. The company’s 50 day moving average price is $17.83 and its two-hundred day moving average price is $18.22. Sixth Street Specialty Lending has a 52 week low of $16.04 and a 52 week high of $22.84.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings results on Tuesday, November 3rd. The financial services provider reported $0.44 earnings per share for the quarter, meeting the consensus estimate of $0.44. Sixth Street Specialty Lending had a net margin of 21.79% and a return on equity of 11.33%. The company had revenue of $98.96 million during the quarter, compared to analysts’ expectations of $97.59 million. On average, analysts expect that Sixth Street Specialty Lending will post 1.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Several large investors have recently made changes to their positions in TSLX. Quantum Portfolio Management LLC acquired a new position in shares of Sixth Street Specialty Lending in the first quarter valued at $273,434,000. Van ECK Associates Corp lifted its stake in shares of Sixth Street Specialty Lending by 28.1% during the 2nd quarter. Van ECK Associates Corp now owns 2,366,266 shares of the financial services provider’s stock worth $40,629,000 after buying an additional 519,456 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in Sixth Street Specialty Lending during the second quarter worth approximately $34,552,000. Callodine Capital Management LP grew its position in shares of Sixth Street Specialty Lending by 2.5% in the first quarter. Callodine Capital Management LP now owns 1,129,520 shares of the financial services provider’s stock valued at $20,761,000 after purchasing an additional 27,528 shares during the last quarter. Finally, Tectonic Advisors LLC grew its position in shares of Sixth Street Specialty Lending by 16.0% in the third quarter. Tectonic Advisors LLC now owns 980,705 shares of the financial services provider’s stock valued at $17,672,000 after purchasing an additional 135,502 shares during the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

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.