Sixth Street Specialty Lending (NYSE:TSLX) Shares Up 1.2% Following Dividend Announcement

Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report) shares traded up 1.2% during trading on Thursday after the company announced a dividend. The company traded as high as $21.23 and last traded at $21.19. 263,387 shares were traded during trading, a decline of 24% from the average session volume of 347,850 shares. The stock had previously closed at $20.94.

The newly announced dividend which will be paid on Friday, December 20th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.05 per share. This represents a yield of 7.69%. The ex-dividend date is Friday, November 29th. Sixth Street Specialty Lending's dividend payout ratio (DPR) is 89.32%.

Analysts Set New Price Targets

TSLX has been the topic of a number of recent research reports. Keefe, Bruyette & Woods cut their price objective on 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. 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. LADENBURG THALM/SH SH raised Sixth Street Specialty Lending from a "neutral" rating to a "buy" rating and set a $21.00 target price on the stock in a report on Wednesday, November 6th. Finally, Wells Fargo & Company dropped their target price on Sixth Street Specialty Lending from $22.00 to $21.00 and set an "overweight" rating on the stock in a report on Tuesday, October 29th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Sixth Street Specialty Lending has a consensus rating of "Buy" and a consensus price target of $22.00.

Sixth Street Specialty Lending Stock Performance

The firm has a fifty day simple moving average of $20.52 and a 200-day simple moving average of $20.99. The company has a market cap of $1.98 billion, a PE ratio of 10.29 and a beta of 1.06. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 1.17.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. The company had revenue of $119.22 million for 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 last year, the company posted $0.60 earnings per share. On average, research analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Sixth Street Specialty Lending

Hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp boosted its stake in shares of Sixth Street Specialty Lending by 18.6% during the second quarter. Van ECK Associates Corp now owns 2,147,972 shares of the financial services provider's stock worth $45,859,000 after buying an additional 336,596 shares during the period. Millennium Management LLC boosted its stake in shares of Sixth Street Specialty Lending by 482.6% during the second quarter. Millennium Management LLC now owns 287,311 shares of the financial services provider's stock worth $6,134,000 after buying an additional 237,995 shares during the period. Progeny 3 Inc. boosted its stake in shares of Sixth Street Specialty Lending by 10.6% during the third quarter. Progeny 3 Inc. now owns 2,252,774 shares of the financial services provider's stock worth $46,249,000 after buying an additional 215,996 shares during the period. TrueMark Investments LLC acquired a new stake in shares of Sixth Street Specialty Lending during the second quarter worth about $4,378,000. Finally, Baillie Gifford & Co. boosted its stake in shares of Sixth Street Specialty Lending by 81.9% during the second quarter. Baillie Gifford & Co. now owns 410,054 shares of the financial services provider's stock worth $8,755,000 after buying an additional 184,634 shares during the period. Hedge funds and other 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.