Sixth Street Specialty Lending (NYSE:TSLX) Trading Down 0.3% - What's Next?

Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report) shares were down 0.3% on Wednesday . The stock traded as low as $21.39 and last traded at $21.39. Approximately 30,703 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 345,704 shares. The stock had previously closed at $21.46.

Wall Street Analyst Weigh In

TSLX has been the subject of several analyst reports. LADENBURG THALM/SH SH upgraded 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 restated an "outperform" rating and issued a $23.00 price objective on shares of Sixth Street Specialty Lending in a research report on Tuesday, November 12th. Wells Fargo & Company dropped their price target on shares of Sixth Street Specialty Lending from $22.00 to $21.00 and set an "overweight" rating for the company in a research note on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods reduced their target price on Sixth Street Specialty Lending from $23.00 to $21.50 and set an "outperform" rating on the stock in a report on Thursday, November 7th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $22.00.

Sixth Street Specialty Lending Trading Down 0.2 %

The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.50 and a current ratio of 2.50. The firm has a market capitalization of $2.00 billion, a P/E ratio of 10.38 and a beta of 1.06. The firm has a 50 day simple moving average of $20.68 and a two-hundred day simple moving average of $20.99.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last posted its earnings results on Tuesday, November 5th. The financial services provider reported $0.57 EPS 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 previous year, the business earned $0.60 earnings per share. Equities research analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.32 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. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.05 per share. This represents a dividend yield of 7.59%. The ex-dividend date of this dividend is Friday, November 29th. Sixth Street Specialty Lending's dividend payout ratio (DPR) is presently 89.32%.

Hedge Funds Weigh In On Sixth Street Specialty Lending

Several institutional investors and hedge funds have recently bought and sold shares of TSLX. nVerses Capital LLC purchased a new stake in Sixth Street Specialty Lending in the second quarter worth about $70,000. Ridgewood Investments LLC purchased a new position in shares of Sixth Street Specialty Lending in the second quarter worth approximately $77,000. Quarry LP raised its stake in shares of Sixth Street Specialty Lending by 378.3% in the third quarter. Quarry LP now owns 4,094 shares of the financial services provider's stock worth $84,000 after buying an additional 3,238 shares during the period. Future Financial Wealth Managment LLC bought a new stake in shares of Sixth Street Specialty Lending during the 3rd quarter valued at $86,000. Finally, Atlas Capital Advisors LLC purchased a new position in shares of Sixth Street Specialty Lending in the second quarter valued at about $109,000. 70.25% of the stock is currently owned by institutional investors.

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.

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