Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report) traded up 1.3% on Wednesday . The company traded as high as $20.96 and last traded at $20.95. 60,691 shares changed hands during trading, a decline of 82% from the average session volume of 344,946 shares. The stock had previously closed at $20.69.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on TSLX shares. Royal Bank of Canada reissued an "outperform" rating and issued a $23.00 target price on shares of Sixth Street Specialty Lending in a research note on Tuesday, November 12th. Keefe, Bruyette & Woods decreased their price objective on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an "outperform" rating for the company in a research note on Thursday, November 7th. Wells Fargo & Company cut their target price on Sixth Street Specialty Lending from $22.00 to $21.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 29th. Finally, LADENBURG THALM/SH SH raised 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 note on Wednesday, November 6th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $22.00.
Read Our Latest Report on TSLX
Sixth Street Specialty Lending Stock Down 1.4 %
The stock has a market cap of $1.90 billion, a P/E ratio of 9.91 and a beta of 1.06. The company's 50 day moving average price is $20.75 and its two-hundred day moving average price is $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.
Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last issued its earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. The business had revenue of $119.22 million during the quarter, compared to analysts' expectations 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 period in the prior year, the business earned $0.60 EPS. As a group, research analysts expect that Sixth Street Specialty Lending, Inc. will post 2.31 earnings per share for the current year.
Sixth Street Specialty Lending Cuts Dividend
The firm also recently declared a dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, December 2nd will be issued a $0.05 dividend. The ex-dividend date is Friday, November 29th. This represents a dividend yield of 7.59%. Sixth Street Specialty Lending's dividend payout ratio is currently 89.32%.
Hedge Funds Weigh In On Sixth Street Specialty Lending
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Van ECK Associates Corp boosted its position in Sixth Street Specialty Lending by 18.6% during the 2nd quarter. Van ECK Associates Corp now owns 2,147,972 shares of the financial services provider's stock valued at $45,859,000 after acquiring an additional 336,596 shares in the last quarter. Millennium Management LLC grew its stake in Sixth Street Specialty Lending by 482.6% in the second quarter. Millennium Management LLC now owns 287,311 shares of the financial services provider's stock valued at $6,134,000 after purchasing an additional 237,995 shares during the last quarter. Progeny 3 Inc. lifted its position 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 valued at $46,249,000 after buying an additional 215,996 shares during the last quarter. TrueMark Investments LLC bought a new stake in shares of Sixth Street Specialty Lending in the 2nd quarter valued at about $4,378,000. Finally, Baillie Gifford & Co. grew its position in shares of Sixth Street Specialty Lending by 81.9% in the 2nd 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 last quarter. 70.25% of the stock is currently owned by institutional investors.
Sixth Street Specialty Lending Company Profile
(
Get Free Report)
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.
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