TPG Specialty Lending, Inc. (TSLX) to Issue Quarterly Dividend of $0.39 on October 13th
TPG Specialty Lending, Inc. (NYSE:TSLX) declared a quarterly dividend on Thursday, August 3rd, Wall Street Journal reports. Investors of record on Friday, September 15th will be given a dividend of 0.39 per share by the financial services provider on Friday, October 13th. This represents a $1.56 annualized dividend and a dividend yield of 7.79%. The ex-dividend date is Thursday, September 14th.
TPG Specialty Lending has a dividend payout ratio of 81.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. 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 (TSLX) opened at 20.03 on Friday. The stock has a 50 day moving average of $20.94 and a 200 day moving average of $20.53. TPG Specialty Lending has a 52-week low of $17.00 and a 52-week high of $21.74.
TPG Specialty Lending (NYSE:TSLX) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.11. The firm had revenue of $58.82 million for the quarter, compared to analysts’ expectations of $49.41 million. TPG Specialty Lending had a net margin of 60.77% and a return on equity of 12.68%. The business’s revenue for the quarter was up 27.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.43 earnings per share. Equities analysts predict that TPG Specialty Lending will post $1.91 EPS for the current year.
A number of research firms recently weighed in on TSLX. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $22.00 price objective (up from $21.00) on shares of TPG Specialty Lending in a research note on Wednesday, August 9th. Zacks Investment Research lowered shares of TPG Specialty Lending from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. JMP Securities upped their price objective on shares of TPG Specialty Lending from $21.50 to $22.00 and gave the stock an “outperform” rating in a research note on Monday, August 7th. National Securities reaffirmed a “neutral” rating and issued a $19.00 price objective on shares of TPG Specialty Lending in a research note on Monday, August 7th. Finally, BidaskClub lowered shares of TPG Specialty Lending from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 31st. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. TPG Specialty Lending presently has an average rating of “Hold” and an average price target of $20.80.
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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