Sixth Street Specialty Lending (NYSE:TSLX) Sets New 52-Week High After Dividend Announcement

Sixth Street Specialty Lending, Inc. (NYSE:TSLX)’s share price reached a new 52-week high during trading on Thursday following a dividend announcement from the company. The stock traded as high as $23.76 and last traded at $23.35, with a volume of 102 shares changing hands. The stock had previously closed at $23.26.

The newly announced dividend which will be paid on Thursday, March 20th. Investors of record on Monday, March 3rd will be paid a dividend of $0.07 per share. This is a positive change from Sixth Street Specialty Lending’s previous dividend of $0.05. The ex-dividend date is Friday, February 28th. This represents a yield of 6.96%. Sixth Street Specialty Lending’s dividend payout ratio is presently 90.64%.

Analyst Ratings Changes

A number of analysts have issued reports on TSLX shares. Wells Fargo & Company boosted their price target on shares of Sixth Street Specialty Lending from $21.00 to $23.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Royal Bank of Canada upped their price objective on Sixth Street Specialty Lending from $23.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday. Truist Financial raised their price target on Sixth Street Specialty Lending from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. boosted their price objective on shares of Sixth Street Specialty Lending from $22.50 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Finally, LADENBURG THALM/SH SH downgraded shares of Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a report on Friday, February 14th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.07.

Sixth Street Specialty Lending Stock Performance

The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 1.18. The stock’s 50 day moving average price is $21.91 and its two-hundred day moving average price is $21.17. The firm has a market capitalization of $2.19 billion, a PE ratio of 11.51 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.04. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 38.67%. The company had revenue of $123.70 million during the quarter, compared to the consensus estimate of $120.07 million. On average, equities analysts expect that Sixth Street Specialty Lending, Inc. will post 2.19 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its stake in shares of Sixth Street Specialty Lending by 4.5% during the 4th quarter. Van ECK Associates Corp now owns 2,393,069 shares of the financial services provider’s stock worth $50,972,000 after purchasing an additional 103,634 shares during the last quarter. Progeny 3 Inc. boosted its position in Sixth Street Specialty Lending by 6.1% during the fourth quarter. Progeny 3 Inc. now owns 2,390,680 shares of the financial services provider’s stock worth $50,921,000 after acquiring an additional 137,906 shares during the last quarter. Sound Income Strategies LLC grew its stake in Sixth Street Specialty Lending by 5.6% in the 4th quarter. Sound Income Strategies LLC now owns 2,305,372 shares of the financial services provider’s stock worth $49,104,000 after acquiring an additional 122,312 shares during the period. Burgundy Asset Management Ltd. raised its holdings in Sixth Street Specialty Lending by 1.7% in the 4th quarter. Burgundy Asset Management Ltd. now owns 2,192,486 shares of the financial services provider’s stock valued at $46,700,000 after acquiring an additional 37,442 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Sixth Street Specialty Lending by 2.9% in the 4th quarter. Wells Fargo & Company MN now owns 1,183,141 shares of the financial services provider’s stock worth $25,201,000 after buying an additional 33,026 shares during the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

Sixth Street Specialty Lending Company Profile

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.