Sixth Street Specialty Lending (NYSE:TSLX) Trading Up 2.3% After Dividend Announcement

Sixth Street Specialty Lending, Inc. (NYSE:TSLX)’s share price was up 2.3% during trading on Friday after the company announced a dividend. The company traded as high as $21.64 and last traded at $21.62. Approximately 99,344 shares changed hands during trading, a decline of 71% from the average daily volume of 346,587 shares. The stock had previously closed at $21.14.

The newly announced dividend which will be paid on Friday, December 20th. Stockholders of record on Monday, December 2nd will be paid a $0.05 dividend. This represents a dividend yield of 7.69%. The ex-dividend date is Friday, November 29th. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is presently 89.32%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TSLX shares. Wells Fargo & Company lowered their price objective on shares of Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. LADENBURG THALM/SH SH upgraded shares of Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Wednesday, November 6th. Keefe, Bruyette & Woods reduced their price objective on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 price objective on shares of Sixth Street Specialty Lending in a research report on Tuesday, November 12th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $22.00.

Sixth Street Specialty Lending Stock Performance

The business’s fifty day moving average is $20.52 and its two-hundred day moving average is $20.99. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $2.02 billion, a PE ratio of 10.50 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. The company had revenue of $119.22 million during the quarter, compared to analyst estimates of $119.85 million. Sixth Street Specialty Lending had a net margin of 39.05% and a return on equity of 13.55%. During the same period in the previous year, the firm earned $0.60 earnings per share. As a group, research analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.32 EPS for the current fiscal year.

Institutional Trading of Sixth Street Specialty Lending

A number of large investors have recently made changes to their positions in TSLX. Nations Financial Group Inc. IA ADV raised its holdings in shares of Sixth Street Specialty Lending by 1.7% in the second quarter. Nations Financial Group Inc. IA ADV now owns 36,903 shares of the financial services provider’s stock valued at $788,000 after acquiring an additional 627 shares in the last quarter. Worth Asset Management LLC raised its holdings in Sixth Street Specialty Lending by 7.9% in the second quarter. Worth Asset Management LLC now owns 14,156 shares of the financial services provider’s stock worth $302,000 after purchasing an additional 1,037 shares in the last quarter. IFG Advisory LLC raised its holdings in Sixth Street Specialty Lending by 6.3% in the second quarter. IFG Advisory LLC now owns 17,512 shares of the financial services provider’s stock worth $374,000 after purchasing an additional 1,039 shares in the last quarter. Barnett & Company Inc. raised its holdings in Sixth Street Specialty Lending by 4.7% in the third quarter. Barnett & Company Inc. now owns 29,050 shares of the financial services provider’s stock worth $596,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Sanctuary Advisors LLC raised its holdings in Sixth Street Specialty Lending by 6.3% in the third quarter. Sanctuary Advisors LLC now owns 24,168 shares of the financial services provider’s stock worth $502,000 after purchasing an additional 1,441 shares in the last quarter. 70.25% of the stock is owned by hedge funds and other institutional investors.

About Sixth Street Specialty Lending

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 and equity securities and structured products, 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.