Sixth Street Specialty Lending (NYSE:TSLX) Reaches New 1-Year High Following Dividend Announcement

Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) reached a new 52-week high on Thursday after the company announced a dividend. The stock traded as high as $23.76 and last traded at $23.35, with a volume of 102 shares traded. The stock had previously closed at $23.26.

The newly announced dividend which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 3rd will be given a $0.07 dividend. This represents a yield of 6.99%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from Sixth Street Specialty Lending’s previous dividend of $0.05. Sixth Street Specialty Lending’s dividend payout ratio is 90.64%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Royal Bank of Canada upped their price objective on Sixth Street Specialty Lending from $23.00 to $25.00 and gave the company an “outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. upped their price objective on Sixth Street Specialty Lending from $22.50 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Wells Fargo & Company upped their price objective on Sixth Street Specialty Lending from $21.00 to $23.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods increased their price target on Sixth Street Specialty Lending from $21.50 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Finally, LADENBURG THALM/SH SH downgraded Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a research report on Friday, February 14th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $23.07.

Sixth Street Specialty Lending Stock Up 1.5 %

The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 1.18. The business has a 50-day moving average price of $22.01 and a 200-day moving average price of $21.20. The firm has a market cap of $2.20 billion, a P/E ratio of 11.59 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 38.67%. The company had revenue of $123.70 million for the quarter, compared to the consensus estimate of $120.07 million. On average, equities analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Institutional investors have recently added to or reduced their stakes in the stock. Private Advisor Group LLC boosted its position in Sixth Street Specialty Lending by 26.8% during the third quarter. Private Advisor Group LLC now owns 25,503 shares of the financial services provider’s stock valued at $524,000 after purchasing an additional 5,398 shares in the last quarter. Legacy Capital Wealth Partners LLC raised its stake in 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 buying an additional 71,849 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Sixth Street Specialty Lending by 16.1% in the third quarter. JPMorgan Chase & Co. now owns 1,175,388 shares of the financial services provider’s stock valued at $24,131,000 after buying an additional 162,810 shares during the last quarter. Van ECK Associates Corp raised its stake 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 valued at $47,117,000 after buying an additional 141,463 shares during the last quarter. Finally, Gilman Hill Asset Management LLC purchased a new stake in Sixth Street Specialty Lending in the fourth quarter valued at about $1,974,000. Institutional investors own 70.25% of the company’s stock.

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.