TPG Specialty Lending Inc (NYSE:TSLX) declared a quarterly dividend on Wednesday, July 31st, NASDAQ reports. Stockholders of record on Friday, September 13th will be paid a dividend of 0.39 per share by the financial services provider on Tuesday, October 15th. This represents a $1.56 annualized dividend and a dividend yield of 7.44%. The ex-dividend date of this dividend is Thursday, September 12th. This is a boost from TPG Specialty Lending’s previous quarterly dividend of $0.04.
TPG Specialty Lending has a payout ratio of 77.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect TPG Specialty Lending to earn $2.00 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 78.0%.
Shares of NYSE:TSLX remained flat at $$20.97 during midday trading on Tuesday. The company had a trading volume of 4,898 shares, compared to its average volume of 223,338. TPG Specialty Lending has a twelve month low of $17.75 and a twelve month high of $21.24. The firm has a market capitalization of $1.38 billion, a PE ratio of 9.32, a PEG ratio of 11.26 and a beta of 0.64. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.69 and a current ratio of 0.69. The company’s fifty day moving average is $20.36 and its 200 day moving average is $20.04.
In other news, Director Hurley Doddy bought 2,500 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were bought at an average cost of $20.25 per share, with a total value of $50,625.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.40% of the stock is owned by insiders.
A number of brokerages have recently issued reports on TSLX. Wells Fargo & Co upgraded TPG Specialty Lending from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $20.50 to $21.00 in a research note on Thursday, August 1st. Zacks Investment Research downgraded TPG Specialty Lending from a “hold” rating to a “sell” rating in a report on Saturday, July 27th. Two investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $22.25.
About TPG Specialty Lending
TPG Specialty Lending, Inc is a business development company. The fund provides senior secured loans (first-lien, second-lien, and unitranche), mezzanine debt, non-control structured equity, and common equity with a focus on co-investments for organic growth, acquisitions, market or product expansion, restructuring initiatives, recapitalizations, and refinancing.
Featured Story: Market Timing
Receive News & Ratings for TPG Specialty Lending Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TPG Specialty Lending and related companies with MarketBeat.com's FREE daily email newsletter.