Sixth Street Specialty Lending (NYSE:TSLX) Shares Down 0.5% – Here’s What Happened

Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) were down 0.5% during trading on Tuesday . The stock traded as low as $21.33 and last traded at $21.34. Approximately 70,053 shares were traded during trading, a decline of 80% from the average daily volume of 347,378 shares. The stock had previously closed at $21.45.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $23.00 price target on shares of Sixth Street Specialty Lending in a research note on Tuesday, November 12th. Wells Fargo & Company lowered 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 report on Tuesday, October 29th. LADENBURG THALM/SH SH upgraded shares of 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. Finally, Keefe, Bruyette & Woods decreased their target price on shares of 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. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $22.00.

Sixth Street Specialty Lending Price Performance

The business has a 50 day moving average price of $20.56 and a two-hundred day moving average price of $20.98. The stock has a market cap of $2.00 billion, a PE ratio of 10.36 and a beta of 1.06. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.50 and a current ratio of 2.50.

Sixth Street Specialty Lending (NYSE:TSLX) last issued 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. The business had revenue of $119.22 million for the quarter, compared to analysts’ expectations of $119.85 million. Sixth Street Specialty Lending had a net margin of 39.05% and a return on equity of 13.55%. During the same quarter in the previous year, the firm posted $0.60 EPS. Research analysts expect that Sixth Street Specialty Lending, Inc. will post 2.32 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently disclosed a 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 (DPR) is currently 89.32%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. nVerses Capital LLC purchased a new position in Sixth Street Specialty Lending during the second quarter worth about $70,000. Ridgewood Investments LLC purchased a new position in shares of Sixth Street Specialty Lending during the second quarter worth about $77,000. Quarry LP increased its position 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 purchasing an additional 3,238 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in Sixth Street Specialty Lending in the third quarter valued at approximately $86,000. Finally, Atlas Capital Advisors LLC bought a new stake in Sixth Street Specialty Lending during the second quarter valued at approximately $109,000. 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.