Sixth Street Specialty Lending, Inc. (NYSE: TSLX – Get a rating) declared a quarterly dividend on Thursday, May 5, the wall street journal reports. Investors of record on Wednesday, June 15 will receive a dividend of 0.41 per share from the financial services provider on Friday, July 15. This represents a dividend of $1.64 on an annualized basis and a yield of 7.58%. The ex-dividend date is Tuesday, June 14.
Sixth Street Specialty Lending has increased its dividend by an average of 26.4% per year over the past three years. Sixth Street Specialty Lending has a dividend payout ratio of 79.6%, indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Sixth Street Specialty Lending to earn $2.09 per share next year, meaning the company should continue to be able to cover its annual dividend of $1.64 with a ratio of expected future payout of 78.5%.
NYSE: TSLX opened at $21.64 on Friday. The company has a market capitalization of $1.65 billion, a price-earnings ratio of 8.59 and a beta of 1.08. Sixth Street Specialty Lending has a 1-year minimum of $20.80 and a 1-year maximum of $24.74. The stock’s 50-day simple moving average is $22.99 and its two-hundred-day simple moving average is $23.43. The company has a debt ratio of 0.93, a current ratio of 0.44 and a quick ratio of 0.44.
Sixth Street Specialty Loans (NYSE: TSLX – Get a rating) last reported results on Thursday, February 17. The financial services provider reported earnings per share of $0.63 for the quarter, beating consensus analyst estimates of $0.53 by $0.10. The company posted revenue of $78.32 million in the quarter, versus analyst estimates of $69.02 million. Sixth Street Specialty Lending had a net margin of 70.06% and a return on equity of 12.49%. During the same period last year, the company posted earnings per share of $0.50. As a group, analysts expect Sixth Street Specialty Lending to post an EPS of 2.02 for the current year.
In other news, Director Richard A. Higginbotham acquired 2,000 shares of Sixth Street Specialty Lending in a transaction that took place on Monday, March 7. The shares were purchased at an average cost of $22.82 per share, with a total value of $45,640.00. The acquisition was disclosed in a filing with the SEC, which is available via the SEC website. Company insiders own 3.90% of the company’s shares.
A number of institutional investors have recently changed their positions in the company. Schonfeld Strategic Advisors LLC increased its stake in Sixth Street Specialty Lending by 16.6% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 23,200 shares of the financial services provider worth $543,000 after purchasing an additional 3,300 shares during the period. JPMorgan Chase & Co. increased its holdings of Sixth Street Specialty Lending stocks by 2.6% in the fourth quarter. JPMorgan Chase & Co. now owns 148,413 shares of the financial services provider worth $3,471,000 after buying 3,732 additional shares in the last quarter. Toroso Investments LLC increased its stake in Sixth Street Specialty Lending by 47.8% in the fourth quarter. Toroso Investments LLC now owns 20,469 shares of the financial services provider worth $479,000 after purchasing an additional 6,622 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Sixth Street Specialty Lending during Q3 valued at approximately $248,000. Finally, Stifel Financial Corp strengthened its position in Sixth Street Specialty Lending by 14.6% in the 4th quarter. Stifel Financial Corp now owns 219,238 shares of the financial services provider valued at $5,128,000 after purchasing an additional 27,897 shares during the period. 47.04% of the shares are currently held by institutional investors.
A number of analysts have weighed in on TSLX shares recently. Zacks Investment Research downgraded shares of Sixth Street Specialty Lending from a “hold” rating to a “sell” rating in a Thursday, February 24, report. Wells Fargo & Company raised its price target on Sixth Street Specialty Lending from $24.50 to $25.00 and gave the stock an “overweight” rating in a Tuesday, Feb. 22 research note. To finish, StockNews.com launched coverage on Sixth Street Specialty Lending in a research note on Thursday, March 31. They issued a “holding” rating for the company. One research analyst rated the security with a sell rating, two issued a hold rating and three gave the security a buy rating. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $25.38.
About Sixth Street Specialty Loans (Get a rating)
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, equity and structured products, structured equity non-controlling interests and common stock with an emphasis on co-investments for organic growth, acquisitions, market or product expansion, restructuring initiatives, recapitalizations and refinancing.
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