Sixth Street Specialty Lending (NYSE:TSLX) Trading 1.2% Higher Following Dividend Announcement

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) shares were up 1.2% during mid-day trading on Thursday after the company announced a dividend. The stock traded as high as $21.23 and last traded at $21.19. Approximately 263,387 shares changed hands during trading, a decline of 24% from the average daily volume of 347,850 shares. The stock had previously closed at $20.94.

The newly announced dividend which will be paid on Friday, December 20th. Stockholders of record on Monday, December 2nd will be given a $0.05 dividend. This represents a dividend yield of 7.59%. The ex-dividend date of this dividend is Friday, November 29th. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is 89.32%.

Analyst Ratings Changes

A number of research analysts recently commented on TSLX shares. Wells Fargo & Company lowered their price objective on shares of Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. LADENBURG THALM/SH SH upgraded shares of Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price target on the stock in a report on Wednesday, November 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $23.00 price target on shares of Sixth Street Specialty Lending in a research note on Tuesday, November 12th. Finally, Keefe, Bruyette & Woods reduced their price objective on 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 investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Sixth Street Specialty Lending has a consensus rating of “Buy” and an average price target of $22.00.

Sixth Street Specialty Lending Stock Up 1.6 %

The firm has a market cap of $2.00 billion, a P/E ratio of 10.43 and a beta of 1.06. The business’s fifty day moving average price is $20.54 and its two-hundred day moving average price is $20.99. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 1.17.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, hitting 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 during the quarter, compared to the consensus estimate of $119.85 million. During the same quarter in the prior year, the company posted $0.60 EPS. As a group, equities research analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.32 EPS for the current year.

Hedge Funds Weigh In On Sixth Street Specialty Lending

Several large investors have recently made changes to their positions in the business. Van ECK Associates Corp increased its holdings in shares of Sixth Street Specialty Lending by 6.6% during the 3rd 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 period. Progeny 3 Inc. increased its stake in Sixth Street Specialty Lending by 10.6% during the third quarter. Progeny 3 Inc. now owns 2,252,774 shares of the financial services provider’s stock valued at $46,249,000 after acquiring an additional 215,996 shares during the period. Sound Income Strategies LLC raised its holdings in Sixth Street Specialty Lending by 2.5% in the 3rd quarter. Sound Income Strategies LLC now owns 2,183,060 shares of the financial services provider’s stock valued at $44,818,000 after acquiring an additional 53,961 shares in the last quarter. Burgundy Asset Management Ltd. lifted its position in shares of Sixth Street Specialty Lending by 1.4% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 2,105,853 shares of the financial services provider’s stock worth $44,960,000 after acquiring an additional 29,034 shares during the period. Finally, 1832 Asset Management L.P. grew its holdings in shares of Sixth Street Specialty Lending by 6.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,279,000 shares of the financial services provider’s stock worth $27,307,000 after purchasing an additional 79,000 shares in 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.