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

Sixth Street Specialty Lending, Inc. (NYSE:TSLX)’s stock price rose 0.8% during mid-day trading on Wednesday following a dividend announcement from the company. The company traded as high as $21.14 and last traded at $21.11. Approximately 42,035 shares were traded 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 issued a dividend of $0.05 per share. The ex-dividend date is Friday, November 29th. This represents a yield of 7.78%. Sixth Street Specialty Lending’s dividend payout ratio is presently 89.32%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TSLX. Royal Bank of Canada reiterated 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. Wells Fargo & Company dropped 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 note on Tuesday, October 29th. LADENBURG THALM/SH SH raised shares of 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 report on Wednesday, November 6th. Finally, 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 for the company in a research report on Thursday, November 7th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Sixth Street Specialty Lending currently has an average rating of “Buy” and an average price target of $22.00.

Sixth Street Specialty Lending Trading Up 0.8 %

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 company has a market cap of $1.97 billion, a PE ratio of 10.25 and a beta of 1.06. The stock has a 50 day moving average price of $20.49 and a 200 day moving average price of $20.99.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $0.57 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 business had revenue of $119.22 million during the quarter, compared to analyst estimates of $119.85 million. During the same quarter last year, the firm posted $0.60 earnings per share. Sell-side analysts predict that Sixth Street Specialty Lending, Inc. will post 2.32 EPS for the current fiscal year.

Institutional Trading of Sixth Street Specialty Lending

Hedge funds have recently made changes to their positions in the stock. EntryPoint Capital LLC purchased a new position in shares of Sixth Street Specialty Lending in the 1st quarter worth about $35,000. nVerses Capital LLC bought a new stake in Sixth Street Specialty Lending during the 2nd quarter valued at about $70,000. Ridgewood Investments LLC purchased a new position in Sixth Street Specialty Lending in the second quarter worth about $77,000. Quarry LP lifted its stake in shares of Sixth Street Specialty Lending by 378.3% in the third quarter. Quarry LP now owns 4,094 shares of the financial services provider’s stock worth $84,000 after buying an additional 3,238 shares in the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of Sixth Street Specialty Lending during the third quarter valued at approximately $86,000. 70.25% of the stock is 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.