Sixth Street Specialty Lending (NYSE:TSLX) Shares Up 0.8% – Here’s Why

Sixth Street Specialty Lending, Inc. (NYSE:TSLX)’s share price rose 0.8% on Friday . The stock traded as high as $20.82 and last traded at $20.72. Approximately 91,340 shares changed hands during trading, a decline of 74% from the average daily volume of 347,557 shares. The stock had previously closed at $20.56.

Analyst Upgrades and Downgrades

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

Sixth Street Specialty Lending Stock Performance

The stock has a market cap of $1.95 billion, a P/E ratio of 10.11 and a beta of 1.06. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 1.17. The stock has a 50 day simple moving average of $20.50 and a 200 day simple moving average of $21.00.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $0.57 EPS for the quarter, meeting analysts’ consensus estimates of $0.57. The business had revenue of $119.22 million during the quarter, compared to the consensus estimate of $119.85 million. Sixth Street Specialty Lending had a return on equity of 13.55% and a net margin of 39.05%. During the same quarter in the previous year, the firm earned $0.60 earnings per share. On average, equities analysts expect that Sixth Street Specialty Lending, Inc. will post 2.32 earnings per share for the current year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently declared a — dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 29th will be given a dividend of $0.05 per share. The ex-dividend date is Friday, November 29th. This represents a dividend yield of 9.1%. Sixth Street Specialty Lending’s dividend payout ratio is 89.32%.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nations Financial Group Inc. IA ADV raised its holdings in shares of Sixth Street Specialty Lending by 1.7% during the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 36,903 shares of the financial services provider’s stock worth $788,000 after buying an additional 627 shares in the last quarter. Worth Asset Management LLC grew its holdings in shares of Sixth Street Specialty Lending by 7.9% during the 2nd quarter. Worth Asset Management LLC now owns 14,156 shares of the financial services provider’s stock valued at $302,000 after purchasing an additional 1,037 shares during the last quarter. IFG Advisory LLC increased its position in Sixth Street Specialty Lending by 6.3% during the 2nd 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. EMC Capital Management boosted its position in Sixth Street Specialty Lending by 23.1% in the first quarter. EMC Capital Management now owns 6,747 shares of the financial services provider’s stock valued at $145,000 after buying an additional 1,265 shares in the last quarter. Finally, Barnett & Company Inc. increased its holdings in shares of Sixth Street Specialty Lending by 4.7% during the third quarter. Barnett & Company Inc. now owns 29,050 shares of the financial services provider’s stock worth $596,000 after buying an additional 1,300 shares in the last quarter. 70.25% of the stock is currently owned by 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.