Sixth Street Specialty Lending (NYSE:TSLX) Shares Down 0.6% - Here's Why

Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report) was down 0.6% during mid-day trading on Tuesday . The company traded as low as $20.46 and last traded at $20.52. Approximately 62,632 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 345,085 shares. The stock had previously closed at $20.65.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on TSLX shares. Keefe, Bruyette & Woods lowered their price target on Sixth Street Specialty Lending from $23.00 to $21.50 and set an "outperform" rating for the company in a research report on Thursday, November 7th. LADENBURG THALM/SH SH raised Sixth Street Specialty Lending from a "neutral" rating to a "buy" rating and set a $21.00 target price for the company in a research report on Wednesday, November 6th. Royal Bank of Canada reissued an "outperform" rating and set a $23.00 price target on shares of Sixth Street Specialty Lending in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company dropped their price objective on shares of Sixth Street Specialty Lending from $22.00 to $21.00 and set an "overweight" rating for the company in a report on Tuesday, October 29th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $22.00.

Sixth Street Specialty Lending Stock Performance

The stock has a 50-day moving average price of $20.74 and a 200 day moving average price of $20.97. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 9.96 and a beta of 1.06.

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 EPS for the quarter, meeting analysts' consensus estimates of $0.57. The company had revenue of $119.22 million for the quarter, compared to the consensus estimate 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 in the prior year, the firm posted $0.60 EPS. On average, analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.31 EPS for the current year.

Sixth Street Specialty Lending Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a dividend yield of 7.59%. Sixth Street Specialty Lending's dividend payout ratio is currently 89.32%.

Institutional Trading of Sixth Street Specialty Lending

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