Sixth Street Specialty Lending (NYSE:TSLX) Trading Up 2.3% After Dividend Announcement

by · The Markets Daily

Sixth Street Specialty Lending, Inc. (NYSE:TSLX – Get Free Report) shot up 2.3% during trading on Friday after the company announced a dividend. The stock traded as high as $21.64 and last traded at $21.62. 99,344 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 346,587 shares. The stock had previously closed at $21.14.

The newly announced dividend which will be paid on Friday, December 20th. Investors of record on Monday, December 2nd will be given a $0.05 dividend. This represents a dividend yield of 7.69%. The ex-dividend date of this dividend is Friday, November 29th. Sixth Street Specialty Lending’s payout ratio is currently 89.32%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TSLX. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $23.00 price objective on shares of Sixth Street Specialty Lending in a research report on Tuesday, November 12th. Wells Fargo & Company cut their price target on shares of 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 cut 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 report on Thursday, November 7th. Finally, 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. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $22.00.

View Our Latest Research Report on TSLX

Sixth Street Specialty Lending Stock Up 2.3 %

The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 10.50 and a beta of 1.06. The business’s 50 day moving average price is $20.52 and its 200 day moving average price is $20.99. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.50 and a current ratio of 2.50.

Sixth Street Specialty Lending (NYSE:TSLX – Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. The company had revenue of $119.22 million for the quarter, compared to analyst estimates of $119.85 million. Sixth Street Specialty Lending had a return on equity of 13.55% and a net margin of 39.05%. During the same quarter last year, the firm posted $0.60 EPS. On average, equities analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.32 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp increased its position in shares of Sixth Street Specialty Lending by 18.6% during the 2nd quarter. Van ECK Associates Corp now owns 2,147,972 shares of the financial services provider’s stock worth $45,859,000 after purchasing an additional 336,596 shares during the last quarter. Millennium Management LLC grew its position in Sixth Street Specialty Lending by 482.6% in the 2nd quarter. Millennium Management LLC now owns 287,311 shares of the financial services provider’s stock valued at $6,134,000 after acquiring an additional 237,995 shares in the last quarter. Progeny 3 Inc. grew its position in Sixth Street Specialty Lending by 10.6% in the 3rd 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 in the last quarter. TrueMark Investments LLC acquired a new position in Sixth Street Specialty Lending in the 2nd quarter valued at about $4,378,000. Finally, Baillie Gifford & Co. grew its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Sixth Street Specialty Lending Company Profile

(Get Free Report)

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.

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