Sixth Street Specialty Lending (NYSE:TSLX) Shares Up 0.8% After Dividend Announcement

Sixth Street Specialty Lending, Inc. (NYSE:TSLX)’s share price traded up 0.8% during trading on Wednesday following a dividend announcement from the company. The stock traded as high as $21.14 and last traded at $21.11. 42,035 shares were traded during trading, a decline of 88% from the average session 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. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.05 per share. This represents a dividend yield of 7.69%. The ex-dividend date of this dividend is Friday, November 29th. Sixth Street Specialty Lending’s dividend payout ratio is presently 89.32%.

Analysts Set New Price Targets

A number of research analysts have commented on TSLX shares. Wells Fargo & Company decreased their target price 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 Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Wednesday, November 6th. Royal Bank of Canada reissued an “outperform” rating and set a $23.00 target price on shares of Sixth Street Specialty Lending in a research note on Tuesday, November 12th. Finally, Keefe, Bruyette & Woods reduced their price target 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. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Sixth Street Specialty Lending has an average rating of “Buy” and an average price target of $22.00.

Sixth Street Specialty Lending Stock Up 1.2 %

The firm’s fifty day simple moving average is $20.51 and its 200 day simple moving average 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. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 10.29 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its earnings results on Tuesday, November 5th. The financial services provider reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. The firm had revenue of $119.22 million during the quarter, compared to the consensus estimate 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. Sell-side analysts predict that Sixth Street Specialty Lending, Inc. will post 2.32 earnings per share for the current year.

Hedge Funds Weigh In On Sixth Street Specialty Lending

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tidal Investments LLC boosted its holdings in shares of Sixth Street Specialty Lending by 5.8% in the 1st quarter. Tidal Investments LLC now owns 43,235 shares of the financial services provider’s stock valued at $927,000 after buying an additional 2,368 shares in the last quarter. Comerica Bank boosted its holdings in shares of Sixth Street Specialty Lending by 9.1% in the first quarter. Comerica Bank now owns 18,142 shares of the financial services provider’s stock valued at $389,000 after acquiring an additional 1,510 shares during the period. EMC Capital Management grew its position in shares of Sixth Street Specialty Lending by 23.1% during the first quarter. EMC Capital Management now owns 6,747 shares of the financial services provider’s stock worth $145,000 after acquiring an additional 1,265 shares during the last quarter. Cetera Investment Advisers raised its position in Sixth Street Specialty Lending by 41.8% in the 1st quarter. Cetera Investment Advisers now owns 335,514 shares of the financial services provider’s stock valued at $7,190,000 after purchasing an additional 98,855 shares during the last quarter. Finally, Cetera Advisors LLC boosted its stake in Sixth Street Specialty Lending by 811.5% during the 1st quarter. Cetera Advisors LLC now owns 136,262 shares of the financial services provider’s stock worth $2,920,000 after purchasing an additional 121,312 shares during the period. 70.25% of the stock is owned by institutional investors and hedge funds.

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.