Sixth Street Specialty Lending, Inc. (TSLX) To Go Ex-Dividend on June 15th

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) declared a quarterly dividend on Tuesday, May 5th. Shareholders of record on Monday, June 15th will be given a dividend of 0.42 per share by the financial services provider on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a yield of 9.4%. The ex-dividend date of this dividend is Monday, June 15th. This is a 4,100.0% increase from Sixth Street Specialty Lending’s previous quarterly dividend of $0.01.

Sixth Street Specialty Lending has decreased its dividend by an average of 0.0%per year over the last three years. Sixth Street Specialty Lending has a dividend payout ratio of 82.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Sixth Street Specialty Lending to earn $1.97 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 93.4%.

Sixth Street Specialty Lending Trading Down 8.8%

Shares of NYSE:TSLX opened at $17.88 on Thursday. The company has a market cap of $1.70 billion, a P/E ratio of 15.55 and a beta of 0.65. The stock’s 50-day moving average is $18.35 and its 200-day moving average is $20.39. Sixth Street Specialty Lending has a 52-week low of $16.99 and a 52-week high of $25.17. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.83 and a current ratio of 2.83.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.07). The business had revenue of $93.40 million for the quarter, compared to analyst estimates of $103.14 million. Sixth Street Specialty Lending had a return on equity of 11.79% and a net margin of 25.25%.During the same period in the prior year, the firm posted $0.58 EPS. Equities research analysts predict that Sixth Street Specialty Lending will post 1.97 earnings per share for the current year.

Insider Activity at Sixth Street Specialty Lending

In other news, VP Alan Waxman acquired 45,000 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were bought at an average price of $18.47 per share, with a total value of $831,150.00. Following the acquisition, the vice president owned 545,000 shares of the company’s stock, valued at $10,066,150. This trade represents a 9.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders purchased 545,000 shares of company stock valued at $9,997,150. 3.83% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Quantum Portfolio Management LLC bought a new stake in Sixth Street Specialty Lending in the 1st quarter valued at $273,434,000. Strs Ohio lifted its holdings in shares of Sixth Street Specialty Lending by 101.8% during the 1st quarter. Strs Ohio now owns 4,347,710 shares of the financial services provider’s stock worth $79,911,000 after acquiring an additional 2,193,551 shares during the period. Sound Income Strategies LLC lifted its holdings in shares of Sixth Street Specialty Lending by 2.4% during the 1st quarter. Sound Income Strategies LLC now owns 2,571,052 shares of the financial services provider’s stock worth $46,562,000 after acquiring an additional 59,937 shares during the period. Van ECK Associates Corp boosted its position in shares of Sixth Street Specialty Lending by 18.0% during the 3rd quarter. Van ECK Associates Corp now owns 2,529,187 shares of the financial services provider’s stock valued at $57,817,000 after acquiring an additional 385,398 shares in the last quarter. Finally, Progeny 3 Inc. boosted its position in shares of Sixth Street Specialty Lending by 1.0% during the 2nd quarter. Progeny 3 Inc. now owns 2,476,398 shares of the financial services provider’s stock valued at $58,963,000 after acquiring an additional 23,451 shares in the last quarter. 70.25% of the stock is owned by institutional investors.

About Sixth Street Specialty Lending

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.