Sixth Street Specialty Lending (NYSE:TSLX) Trading 0.8% Higher Following Dividend Announcement

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) shares were up 0.8% on Wednesday after the company announced a dividend. The company traded as high as $21.14 and last traded at $21.11. Approximately 42,035 shares traded hands during trading, a decline of 88% from the average daily volume of 346,841 shares. The stock had previously closed at $20.94.

The newly announced dividend which will be paid on Friday, December 20th. Investors of record on Monday, December 2nd will be given a dividend of $0.05 per share. This represents a yield of 7.78%. The ex-dividend date is Friday, November 29th. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is presently 89.32%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TSLX. Keefe, Bruyette & Woods cut their price target on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating for the company in a research note on Thursday, November 7th. LADENBURG THALM/SH SH raised Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Wednesday, November 6th. 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 note on Tuesday, November 12th. Finally, Wells Fargo & Company reduced 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 report on Tuesday, October 29th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Sixth Street Specialty Lending presently has a consensus rating of “Buy” and a consensus price target of $22.00.

Sixth Street Specialty Lending Trading Up 0.8 %

The stock has a fifty day simple moving average of $20.49 and a 200 day simple moving average of $20.99. The firm has a market capitalization of $1.97 billion, a P/E ratio of 10.25 and a beta of 1.06. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 1.17.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. Sixth Street Specialty Lending had a return on equity of 13.55% and a net margin of 39.05%. The company had revenue of $119.22 million for the quarter, compared to the consensus estimate of $119.85 million. During the same quarter last year, the company earned $0.60 EPS. As a group, research analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.32 EPS for the current year.

Hedge Funds Weigh In On Sixth Street Specialty Lending

Institutional investors have recently bought and sold shares of the stock. Private Advisor Group LLC grew its holdings in Sixth Street Specialty Lending by 26.8% during the 3rd quarter. Private Advisor Group LLC now owns 25,503 shares of the financial services provider’s stock valued at $524,000 after buying an additional 5,398 shares in the last quarter. Legacy Capital Wealth Partners LLC grew its holdings in shares of Sixth Street Specialty Lending by 98.6% in the third quarter. Legacy Capital Wealth Partners LLC now owns 144,698 shares of the financial services provider’s stock valued at $2,971,000 after purchasing an additional 71,849 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Sixth Street Specialty Lending by 5.4% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 572,480 shares of the financial services provider’s stock worth $12,222,000 after purchasing an additional 29,365 shares during the last quarter. Van ECK Associates Corp increased its position in Sixth Street Specialty Lending by 6.6% in the third quarter. Van ECK Associates Corp now owns 2,289,435 shares of the financial services provider’s stock worth $47,117,000 after purchasing an additional 141,463 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its stake in Sixth Street Specialty Lending by 6.6% during the second quarter. 1832 Asset Management L.P. now owns 1,279,000 shares of the financial services provider’s stock valued at $27,307,000 after purchasing an additional 79,000 shares in the last quarter. 70.25% of the stock is owned by hedge funds and other institutional investors.

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.