TPG Specialty Lending, Inc. (NYSE:TSLX) declared a special dividend on Thursday, May 4th, Wall Street Journal reports. Stockholders of record on Wednesday, May 31st will be paid a dividend of 0.04 per share by the financial services provider on Friday, June 30th. This represents a dividend yield of 7.68%. The ex-dividend date is Friday, May 26th.
TPG Specialty Lending has a dividend payout ratio of 86.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect TPG Specialty Lending to earn $1.78 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 87.6%.
Shares of TPG Specialty Lending (NYSE:TSLX) traded up 0.54% on Friday, hitting $20.48. 155,216 shares of the stock traded hands. The firm has a market capitalization of $1.23 billion, a PE ratio of 8.27 and a beta of 0.71. TPG Specialty Lending has a 52 week low of $16.30 and a 52 week high of $21.10. The firm’s 50 day moving average is $20.68 and its 200 day moving average is $19.71.
TPG Specialty Lending (NYSE:TSLX) last posted its quarterly earnings data on Wednesday, May 3rd. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.03. TPG Specialty Lending had a net margin of 73.53% and a return on equity of 11.94%. The company had revenue of $50.95 million for the quarter, compared to the consensus estimate of $48.81 million. On average, analysts expect that TPG Specialty Lending will post $1.80 EPS for the current fiscal year.
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A number of analysts have recently issued reports on TSLX shares. Zacks Investment Research downgraded shares of TPG Specialty Lending from a “buy” rating to a “hold” rating in a report on Tuesday, February 28th. National Securities reiterated a “neutral” rating and issued a $19.00 price objective on shares of TPG Specialty Lending in a report on Monday, May 8th. Finally, TheStreet upgraded shares of TPG Specialty Lending from a “c” rating to a “b-” rating in a report on Monday, February 27th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. TPG Specialty Lending currently has an average rating of “Hold” and an average price target of $18.50.
About TPG Specialty Lending
TPG Specialty Lending, Inc is an externally managed, closed-end, non-diversified management investment company. The Company is a specialty finance company focused on lending to middle-market companies. It seeks to generate current income primarily in the United States-domiciled middle-market companies through direct originations of senior secured loans and originations of mezzanine and unsecured loans and investments in corporate bonds and equity securities.
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