Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Declares Quarterly Dividend of $0.42

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) declared a quarterly dividend on Tuesday, August 4th. Stockholders of record on Tuesday, September 15th will be given a dividend of 0.42 per share by the financial services provider on Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 9.5%. The ex-dividend date of this dividend is Tuesday, September 15th.

Sixth Street Specialty Lending has decreased its dividend payment by an average of 0.0%per year over the last three years. Sixth Street Specialty Lending has a dividend payout ratio of 75.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Sixth Street Specialty Lending to earn $1.81 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 92.8%.

Sixth Street Specialty Lending Stock Performance

Shares of NYSE TSLX traded down $0.29 during trading hours on Wednesday, reaching $17.72. 55,631 shares of the stock were exchanged, compared to its average volume of 817,976. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 15.41 and a beta of 0.59. The stock’s fifty day simple moving average is $17.12 and its 200 day simple moving average is $18.32. The company has a debt-to-equity ratio of 1.17, a quick ratio of 3.39 and a current ratio of 3.39. Sixth Street Specialty Lending has a 52 week low of $16.04 and a 52 week high of $24.79.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.01. Sixth Street Specialty Lending had a return on equity of 11.92% and a net margin of 25.25%.The business had revenue of $97.84 million during the quarter, compared to the consensus estimate of $95.28 million. During the same period in the previous year, the company posted $0.56 EPS. Sell-side analysts predict that Sixth Street Specialty Lending will post 1.71 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TSLX. Royal Bank Of Canada dropped their target price on Sixth Street Specialty Lending from $22.00 to $20.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. Keefe, Bruyette & Woods lowered their price target on shares of Sixth Street Specialty Lending from $21.00 to $18.50 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. Zacks Research upgraded shares of Sixth Street Specialty Lending from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 7th. Wall Street Zen downgraded shares of Sixth Street Specialty Lending from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Weiss Ratings lowered shares of Sixth Street Specialty Lending from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 18th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Sixth Street Specialty Lending currently has an average rating of “Moderate Buy” and a consensus target price of $19.67.

Sixth Street Specialty Lending Company Profile

Sixth Street Specialty Lending Inc (NYSE: TSLX) is a closed-end, externally managed business development company that provides flexible debt financing solutions to middle-market companies. The fund primarily targets senior secured loans, unitranche facilities, mezzanine debt, second-lien financings and equity co-investment opportunities. By structuring tailored capital solutions, Sixth Street Specialty Lending seeks to support growth initiatives, recapitalizations and refinancings across a diverse set of industries, including technology, healthcare and business services.

As an affiliate of Sixth Street Partners, a global alternative investment firm, the company leverages the broader platform’s credit research, operational expertise and industry relationships.