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

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) shares traded up 1.2% during mid-day trading on Thursday following a dividend announcement from the company. The stock traded as high as $21.23 and last traded at $21.19. 263,387 shares were traded during trading, a decline of 24% from the average session 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. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a yield of 7.69%. Sixth Street Specialty Lending’s dividend payout ratio is presently 89.32%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TSLX. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $23.00 target price on shares of Sixth Street Specialty Lending in a report on Tuesday, November 12th. Wells Fargo & Company reduced their target price on Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Keefe, Bruyette & Woods reduced their target price on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Finally, LADENBURG THALM/SH SH raised Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Wednesday, November 6th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Sixth Street Specialty Lending currently has an average rating of “Buy” and a consensus target price of $22.00.

Sixth Street Specialty Lending Stock Up 1.2 %

The company has a 50 day simple moving average of $20.52 and a two-hundred day simple moving average of $20.99. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $1.98 billion, a P/E ratio of 10.29 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its 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. 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 in the previous year, the business earned $0.60 earnings per share. As a group, equities analysts predict that Sixth Street Specialty Lending, Inc. will post 2.32 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TSLX. Van ECK Associates Corp boosted its holdings in shares of Sixth Street Specialty Lending by 18.6% in the second quarter. Van ECK Associates Corp now owns 2,147,972 shares of the financial services provider’s stock valued at $45,859,000 after purchasing an additional 336,596 shares during the period. Millennium Management LLC lifted its holdings in Sixth Street Specialty Lending by 482.6% during the second quarter. Millennium Management LLC now owns 287,311 shares of the financial services provider’s stock worth $6,134,000 after buying an additional 237,995 shares during the period. Progeny 3 Inc. lifted its holdings 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 worth $46,249,000 after buying an additional 215,996 shares during the period. TrueMark Investments LLC purchased a new stake in Sixth Street Specialty Lending during the second quarter worth $4,378,000. Finally, Baillie Gifford & Co. lifted its holdings in Sixth Street Specialty Lending by 81.9% during the second quarter. Baillie Gifford & Co. now owns 410,054 shares of the financial services provider’s stock worth $8,755,000 after buying an additional 184,634 shares during the period. Hedge funds and other institutional investors 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.