Sixth Street Specialty Lending (NYSE:TSLX) Trading Down 1.4% – What’s Next?

Sixth Street Specialty Lending, Inc. (NYSE:TSLX)’s share price fell 1.4% during trading on Monday . The stock traded as low as $20.61 and last traded at $20.62. 138,137 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 344,724 shares. The stock had previously closed at $20.91.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. LADENBURG THALM/SH SH upgraded 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 reaffirmed an “outperform” rating and issued a $23.00 price objective on shares of Sixth Street Specialty Lending in a research report on Tuesday, November 12th. Keefe, Bruyette & Woods dropped their target price 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, Wells Fargo & Company decreased their price target on Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $22.00.

Sixth Street Specialty Lending Stock Down 1.4 %

The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.50 and a current ratio of 2.50. The firm has a market capitalization of $1.90 billion, a P/E ratio of 9.91 and a beta of 1.06. The stock has a 50 day moving average of $20.75 and a 200-day moving average of $20.97.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly 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. The company had revenue of $119.22 million for 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 quarter in the previous year, the firm posted $0.60 earnings per share. Research analysts predict that Sixth Street Specialty Lending, Inc. will post 2.31 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The business also recently declared a dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, December 2nd will be issued a $0.05 dividend. This represents a dividend yield of 7.59%. The ex-dividend date is Friday, November 29th. Sixth Street Specialty Lending’s payout ratio is currently 89.32%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Nations Financial Group Inc. IA ADV lifted its position in Sixth Street Specialty Lending by 1.7% during 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 purchasing an additional 627 shares during the last quarter. IFG Advisory LLC raised its position in shares of 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 valued at $374,000 after buying an additional 1,039 shares in the last quarter. Barnett & Company Inc. lifted its holdings in shares of Sixth Street Specialty Lending by 4.7% during the 3rd quarter. Barnett & Company Inc. now owns 29,050 shares of the financial services provider’s stock worth $596,000 after acquiring an additional 1,300 shares during the last quarter. Sanctuary Advisors LLC grew its position 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 acquiring an additional 1,441 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Sixth Street Specialty Lending by 10.6% in the second quarter. Bank of New York Mellon Corp now owns 17,376 shares of the financial services provider’s stock worth $371,000 after acquiring an additional 1,660 shares in the last quarter. 70.25% of the stock is owned by 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.