Sixth Street Specialty Lending (NYSE:TSLX) Shares Down 0.1% – Here’s What Happened

Sixth Street Specialty Lending, Inc. (NYSE:TSLX)’s share price traded down 0.1% on Friday . The stock traded as low as $21.28 and last traded at $21.33. 44,807 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 344,552 shares. The stock had previously closed at $21.36.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TSLX. Royal Bank of Canada restated an “outperform” rating and set a $23.00 price target on shares of Sixth Street Specialty Lending in a research note on Tuesday, November 12th. Wells Fargo & Company lowered 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 shares of Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price target for the company in a research report on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods lowered their price objective 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 analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Sixth Street Specialty Lending presently has a consensus rating of “Buy” and an average target price of $22.00.

Sixth Street Specialty Lending Stock Up 0.0 %

The company has a market capitalization of $1.99 billion, a PE ratio of 10.37 and a beta of 1.06. 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 50 day simple moving average of $20.74 and a two-hundred day simple moving average of $20.99.

Sixth Street Specialty Lending (NYSE:TSLX) last posted 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 firm had revenue of $119.22 million for the quarter, compared to analyst estimates 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 period last year, the firm posted $0.60 EPS. Research analysts expect that Sixth Street Specialty Lending, Inc. will post 2.31 EPS for the current year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.05 per share. The ex-dividend date is Friday, November 29th. This represents a dividend yield of 7.59%. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is 89.32%.

Institutional Investors Weigh In On Sixth Street Specialty Lending

A number of hedge funds have recently added to or reduced their stakes in TSLX. Nations Financial Group Inc. IA ADV increased its position in Sixth Street Specialty Lending by 1.7% during the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 36,903 shares of the financial services provider’s stock worth $788,000 after purchasing an additional 627 shares during the period. IFG Advisory LLC lifted its holdings in shares of Sixth Street Specialty Lending by 6.3% in the 2nd quarter. IFG Advisory LLC now owns 17,512 shares of the financial services provider’s stock valued at $374,000 after buying an additional 1,039 shares during the period. Barnett & Company Inc. boosted its stake in shares of Sixth Street Specialty Lending by 4.7% in the third quarter. Barnett & Company Inc. now owns 29,050 shares of the financial services provider’s stock valued at $596,000 after buying an additional 1,300 shares in the last quarter. Sanctuary Advisors LLC grew its holdings in Sixth Street Specialty Lending by 6.3% during the third quarter. Sanctuary Advisors LLC now owns 24,168 shares of the financial services provider’s stock worth $502,000 after acquiring an additional 1,441 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Sixth Street Specialty Lending by 10.6% in the second quarter. Bank of New York Mellon Corp now owns 17,376 shares of the financial services provider’s stock worth $371,000 after acquiring an additional 1,660 shares in the last quarter. Institutional investors and hedge funds 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.