Sixth Street Specialty Lending (NYSE:TSLX) Sees Unusually-High Trading Volume Following Dividend Announcement

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) saw strong trading volume on Friday after the company announced a dividend. 1,443,343 shares changed hands during mid-day trading, an increase of 329% from the previous session’s volume of 336,511 shares.The stock last traded at $23.65 and had previously closed at $23.07.

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 is a boost from Sixth Street Specialty Lending’s previous dividend of $0.05. This represents a yield of 7.06%. The ex-dividend date of this dividend is Friday, February 28th. Sixth Street Specialty Lending’s dividend payout ratio is 90.64%.

Analysts Set New Price Targets

Several research firms have recently weighed in on TSLX. Truist Financial increased their price objective on shares of Sixth Street Specialty Lending from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday. LADENBURG THALM/SH SH cut shares of Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a research report on Friday, February 14th. JPMorgan Chase & Co. increased their price objective on shares of Sixth Street Specialty Lending from $22.50 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday. Wells Fargo & Company increased their price objective on shares of Sixth Street Specialty Lending from $21.00 to $23.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Sixth Street Specialty Lending from $21.50 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Sixth Street Specialty Lending presently has a consensus rating of “Moderate Buy” and an average target price of $22.79.

Sixth Street Specialty Lending Price Performance

The stock has a market cap of $2.20 billion, a PE ratio of 11.57 and a beta of 1.06. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.90 and a quick ratio of 1.90. The firm’s 50 day moving average price is $21.70 and its two-hundred day moving average price is $21.08.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its earnings results on Thursday, February 13th. The financial services provider reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The business had revenue of $123.70 million for the quarter, compared to analyst estimates of $120.07 million. Sixth Street Specialty Lending had a net margin of 38.67% and a return on equity of 13.47%. On average, research analysts expect that Sixth Street Specialty Lending, Inc. will post 2.19 earnings per share for the current year.

Hedge Funds Weigh In On Sixth Street Specialty Lending

Institutional investors have recently made changes to their positions in the stock. Trust Co. of Vermont bought a new position in shares of Sixth Street Specialty Lending in the 4th quarter worth $39,000. First Horizon Advisors Inc. boosted its stake in shares of Sixth Street Specialty Lending by 25.3% in the 4th quarter. First Horizon Advisors Inc. now owns 2,302 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 465 shares in the last quarter. Quarry LP boosted its stake in shares of Sixth Street Specialty Lending by 378.3% in the 3rd quarter. Quarry LP now owns 4,094 shares of the financial services provider’s stock valued at $84,000 after purchasing an additional 3,238 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Sixth Street Specialty Lending by 13.3% in the 4th quarter. Signaturefd LLC now owns 4,673 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 550 shares in the last quarter. Finally, Atlas Capital Advisors Inc. purchased a new stake in shares of Sixth Street Specialty Lending in the 4th quarter valued at $109,000. 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.