Sixth Street Specialty Lending (NYSE:TSLX) Stock Price Down 0.1% – Here’s Why

Sixth Street Specialty Lending, Inc. (NYSE:TSLX)’s share price fell 0.1% during trading on Wednesday . The company traded as low as $20.48 and last traded at $20.52. 50,152 shares changed hands during trading, a decline of 86% from the average session volume of 348,338 shares. The stock had previously closed at $20.55.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TSLX shares. Wells Fargo & Company cut their price target on Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods cut their price target on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating for the company in a report on Thursday, November 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $23.00 target price on shares of Sixth Street Specialty Lending in a report on Tuesday, November 12th. 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 objective on the stock in a research report on Wednesday, November 6th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Sixth Street Specialty Lending presently has an average rating of “Buy” and an average target price of $22.00.

Sixth Street Specialty Lending Stock Down 0.7 %

The business’s 50 day simple moving average is $20.53 and its 200 day simple moving average is $21.01. 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 firm has a market capitalization of $1.90 billion, a PE ratio of 9.96 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. The business had revenue of $119.22 million during 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 in the previous year, the business earned $0.60 earnings per share. On average, equities research analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.32 earnings per share for the current year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently disclosed a — dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a yield of 9.1%. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is currently 89.32%.

Institutional Trading of Sixth Street Specialty Lending

Several hedge funds and other institutional investors have recently bought and sold shares of TSLX. ProShare Advisors LLC boosted its holdings in Sixth Street Specialty Lending by 15.8% in the first quarter. ProShare Advisors LLC now owns 13,088 shares of the financial services provider’s stock valued at $280,000 after purchasing an additional 1,784 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Sixth Street Specialty Lending during the 1st quarter valued at about $35,000. Advisors Asset Management Inc. boosted its position in Sixth Street Specialty Lending by 4.9% during the first quarter. Advisors Asset Management Inc. now owns 178,995 shares of the financial services provider’s stock worth $3,836,000 after purchasing an additional 8,373 shares in the last quarter. Truvestments Capital LLC increased its position in shares of Sixth Street Specialty Lending by 597.2% in the first quarter. Truvestments Capital LLC now owns 102,489 shares of the financial services provider’s stock valued at $2,196,000 after buying an additional 87,789 shares in the last quarter. Finally, Tidal Investments LLC raised its stake in shares of Sixth Street Specialty Lending by 5.8% during the 1st quarter. Tidal Investments LLC now owns 43,235 shares of the financial services provider’s stock worth $927,000 after buying an additional 2,368 shares during the period. 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.