Sixth Street Specialty Lending (NYSE:TSLX) Trading Up 2.3% After Dividend Announcement

Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report) shares shot up 2.3% during mid-day trading on Friday following a dividend announcement from the company. The company traded as high as $21.64 and last traded at $21.62. 99,344 shares were traded during trading, a decline of 71% from the average session volume of 346,587 shares. The stock had previously closed at $21.14.

The newly announced dividend which will be paid on Friday, December 20th. Stockholders of record on Monday, December 2nd will be given a $0.05 dividend. 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 presently 89.32%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on TSLX shares. Royal Bank of Canada reaffirmed 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. LADENBURG THALM/SH SH raised Sixth Street Specialty Lending from a "neutral" rating to a "buy" rating and set a $21.00 price objective on the stock in a research note on Wednesday, November 6th. Wells Fargo & Company cut their target price 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 lowered their price target on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an "outperform" rating for the company in a report on Thursday, November 7th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $22.00.

Sixth Street Specialty Lending Stock Up 1.6 %

The firm has a 50-day simple moving average of $20.54 and a 200 day simple moving average of $20.99. The company has a market capitalization of $2.00 billion, a PE ratio of 10.43 and a beta of 1.06. 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 posted its earnings results on Tuesday, November 5th. The financial services provider reported $0.57 EPS for the quarter, hitting analysts' consensus estimates of $0.57. Sixth Street Specialty Lending had a net margin of 39.05% and a return on equity of 13.55%. The business had revenue of $119.22 million for the quarter, compared to analysts' expectations of $119.85 million. During the same period in the previous year, the company posted $0.60 earnings per share. On average, research analysts predict that Sixth Street Specialty Lending, Inc. will post 2.32 EPS for the current fiscal year.

Institutional Trading of Sixth Street Specialty Lending

Hedge funds and other institutional investors have recently made changes to their positions in the stock. nVerses Capital LLC bought a new position in Sixth Street Specialty Lending during the 2nd quarter worth approximately $70,000. Ridgewood Investments LLC bought a new position in Sixth Street Specialty Lending during the second quarter worth $77,000. Quarry LP boosted its holdings in 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 purchasing an additional 3,238 shares during the period. Future Financial Wealth Managment LLC bought a new stake in Sixth Street Specialty Lending during the third quarter valued at $86,000. Finally, Atlas Capital Advisors LLC acquired a new stake in shares of Sixth Street Specialty Lending during the second quarter worth $109,000. Institutional investors 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.