Sixth Street Specialty Lending (NYSE:TSLX) Sees Strong Trading Volume Following Dividend Announcement

Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report) saw unusually-high trading volume on Friday after the company announced a dividend. Approximately 1,443,343 shares traded 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 Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.07 dividend. This is a positive change from Sixth Street Specialty Lending's previous quarterly dividend of $0.05. The ex-dividend date is Friday, March 14th. This represents a $0.28 annualized dividend and a yield of 1.21%. Sixth Street Specialty Lending's dividend payout ratio is currently 90.64%.

Analysts Set New Price Targets

TSLX has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their target price on Sixth Street Specialty Lending from $22.50 to $23.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. Truist Financial raised their price target on Sixth Street Specialty Lending from $23.00 to $24.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. LADENBURG THALM/SH SH downgraded shares of Sixth Street Specialty Lending from a "buy" rating to a "neutral" rating in a report on Friday, February 14th. Keefe, Bruyette & Woods increased their price objective on shares of Sixth Street Specialty Lending from $21.50 to $23.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $23.00 target price on shares of Sixth Street Specialty Lending in a report on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $22.79.

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Sixth Street Specialty Lending Stock Down 1.0 %

The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 1.18. The stock has a market cap of $2.17 billion, a P/E ratio of 11.44 and a beta of 1.06. The firm has a 50-day simple moving average of $21.80 and a two-hundred day simple moving average of $21.14.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.61 EPS for the quarter, beating the consensus estimate of $0.57 by $0.04. Sixth Street Specialty Lending had a net margin of 38.67% and a return on equity of 13.47%. The business had revenue of $123.70 million for the quarter, compared to the consensus estimate of $120.07 million. Equities research analysts expect that Sixth Street Specialty Lending, Inc. will post 2.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. bought a new stake in shares of Sixth Street Specialty Lending in the fourth quarter valued at approximately $17,488,000. Columbus Macro LLC acquired a new position in Sixth Street Specialty Lending in the 4th quarter valued at $7,669,000. Progeny 3 Inc. lifted its position in shares of Sixth Street Specialty Lending by 10.6% during 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 during the period. Parkwood LLC bought a new stake in shares of Sixth Street Specialty Lending during the 4th quarter valued at $3,937,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Sixth Street Specialty Lending by 16.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,175,388 shares of the financial services provider's stock worth $24,131,000 after purchasing an additional 162,810 shares in the last quarter. Institutional investors and hedge funds own 70.25% of the company's stock.

About Sixth Street Specialty Lending

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.