Sixth Street Specialty Lending (NYSE:TSLX) Shares Up 0.8% Following Dividend Announcement

Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report)'s share price rose 0.8% during trading on Wednesday following a dividend announcement from the company. The stock traded as high as $21.14 and last traded at $21.11. Approximately 42,035 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 346,841 shares. The stock had previously closed at $20.94.

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

Analyst Ratings Changes

Several research firms recently issued reports on TSLX. LADENBURG THALM/SH SH raised shares of Sixth Street Specialty Lending from a "neutral" rating to a "buy" rating and set a $21.00 price objective for the company in a research note on Wednesday, November 6th. Keefe, Bruyette & Woods reduced 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. Wells Fargo & Company decreased their price target on 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, Royal Bank of Canada reissued an "outperform" rating and issued a $23.00 price objective on shares of Sixth Street Specialty Lending in a research note on Tuesday, November 12th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Sixth Street Specialty Lending presently has an average rating of "Buy" and a consensus target price of $22.00.

Sixth Street Specialty Lending Price Performance

The company has a market capitalization of $1.98 billion, a P/E ratio of 10.29 and a beta of 1.06. The stock's fifty day simple moving average is $20.51 and its 200-day simple moving average is $20.99. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.50 and a quick ratio of 2.50.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last released its earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.57. Sixth Street Specialty Lending had a return on equity of 13.55% and a net margin of 39.05%. The firm had revenue of $119.22 million for the quarter, compared to analyst estimates of $119.85 million. During the same quarter last year, the firm posted $0.60 EPS. On average, equities analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sixth Street Specialty Lending

A number of institutional investors have recently added to or reduced their stakes in TSLX. Franklin Resources Inc. raised its stake in shares of Sixth Street Specialty Lending by 28.3% in the third quarter. Franklin Resources Inc. now owns 327,083 shares of the financial services provider's stock valued at $6,751,000 after purchasing an additional 72,133 shares in the last quarter. Tidal Investments LLC increased its holdings in Sixth Street Specialty Lending by 7.4% in the 3rd quarter. Tidal Investments LLC now owns 50,883 shares of the financial services provider's stock valued at $1,045,000 after buying an additional 3,504 shares during the period. Sanctuary Advisors LLC raised its stake in shares of Sixth Street Specialty Lending by 6.3% in the 3rd 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 in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Sixth Street Specialty Lending during the 3rd quarter worth about $708,000. Finally, Jane Street Group LLC boosted its position in shares of Sixth Street Specialty Lending by 29.1% during the 3rd quarter. Jane Street Group LLC now owns 49,373 shares of the financial services provider's stock valued at $1,014,000 after acquiring an additional 11,117 shares in the last quarter. 70.25% of the stock is owned by institutional investors and hedge funds.

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.