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 is Monday, November 30th.

Sixth Street Specialty Lending has a payout ratio of 75.0% meaning its dividend is sufficiently covered by earnings. Research 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 1.5%

TSLX opened at $17.91 on Wednesday. The stock has a fifty day moving average of $17.83 and a 200-day moving average of $18.22. The company has a market capitalization of $1.70 billion, a P/E ratio of 9.56 and a beta of 0.61. Sixth Street Specialty Lending has a fifty-two week low of $16.04 and a fifty-two week high of $22.84. The company has a debt-to-equity ratio of 1.24, a quick ratio of 9.83 and a current ratio of 9.83.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings results on Tuesday, November 3rd. The financial services provider reported $0.44 EPS 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 business had revenue of $98.96 million for the quarter, compared to the consensus estimate of $97.59 million. On average, equities analysts expect that Sixth Street Specialty Lending will post 1.74 EPS for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on TSLX. Wall Street Zen upgraded shares of Sixth Street Specialty Lending from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings cut Sixth Street Specialty Lending from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. Zacks Research raised shares of Sixth Street Specialty Lending from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 7th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Sixth Street Specialty Lending from $18.50 to $19.50 and gave the stock an “outperform” rating in a report on Monday, August 10th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.83.

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.