Sixth Street Specialty Lending (NYSE:TSLX) Reaches New 12-Month High Following Dividend Announcement

Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday following a dividend announcement from the company. The stock traded as high as $23.76 and last traded at $23.35, with a volume of 102 shares changing hands. The stock had previously closed at $23.26.

The newly announced dividend which will be paid on Thursday, March 20th. Investors of record on Monday, March 3rd will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from Sixth Street Specialty Lending's previous dividend of $0.05. This represents a yield of 6.99%. Sixth Street Specialty Lending's payout ratio is 90.64%.

Analysts Set New Price Targets

Several equities analysts have commented on TSLX shares. Keefe, Bruyette & Woods lifted their target price on shares of Sixth Street Specialty Lending from $21.50 to $23.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. Wells Fargo & Company boosted their price objective on 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. LADENBURG THALM/SH SH lowered Sixth Street Specialty Lending from a "buy" rating to a "neutral" rating in a research report on Friday, February 14th. JPMorgan Chase & Co. boosted their price target on shares of Sixth Street Specialty Lending from $22.50 to $23.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Finally, Truist Financial raised 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 report on Tuesday, February 18th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, Sixth Street Specialty Lending presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.07.

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Sixth Street Specialty Lending Stock Performance

The company has a market capitalization of $2.19 billion, a P/E ratio of 11.51 and a beta of 1.06. 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 company's fifty day moving average is $22.01 and its 200 day moving average is $21.21.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.61 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.04. The firm had revenue of $123.70 million during the quarter, compared to analyst estimates of $120.07 million. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 38.67%. As a group, equities analysts anticipate 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

A number of large investors have recently modified their holdings of TSLX. Ameriflex Group Inc. bought a new position in Sixth Street Specialty Lending in the 4th quarter valued at $27,000. Trust Co. of Vermont bought a new stake in Sixth Street Specialty Lending during the fourth quarter valued at $39,000. First Horizon Advisors Inc. grew its position in Sixth Street Specialty Lending by 25.3% during the fourth quarter. First Horizon Advisors Inc. now owns 2,302 shares of the financial services provider's stock worth $49,000 after buying an additional 465 shares in the last quarter. Quarry LP increased its stake in 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 worth $84,000 after acquiring an additional 3,238 shares during the last quarter. Finally, Signaturefd LLC increased its stake in 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 worth $100,000 after acquiring an additional 550 shares during the last quarter. 70.25% of the stock is currently owned by institutional investors.

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.