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

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on TSLX. Wells Fargo & Company dropped their price target 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. Royal Bank of Canada restated an “outperform” rating and issued a $23.00 target price on shares of Sixth Street Specialty Lending in a report 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 target on the stock in a research report on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods cut 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 report on Thursday, November 7th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Sixth Street Specialty Lending presently has an average rating of “Buy” and an average target price of $22.00.

Sixth Street Specialty Lending Stock Up 0.0 %

The company has a market cap of $1.99 billion, a P/E ratio of 10.37 and a beta of 1.06. The business’s 50 day moving average price is $20.72 and its 200-day moving average price 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) last issued its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share for the quarter, meeting 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 during the quarter, compared to analyst estimates of $119.85 million. During the same quarter last year, the business posted $0.60 earnings per share. On average, analysts anticipate 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 paid a dividend of $0.05 per share. 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 presently 89.32%.

Hedge Funds Weigh In On Sixth Street Specialty Lending

Institutional investors and hedge funds have recently modified their holdings of the stock. Comerica Bank boosted its position in shares of Sixth Street Specialty Lending by 9.1% in the first quarter. Comerica Bank now owns 18,142 shares of the financial services provider’s stock valued at $389,000 after acquiring an additional 1,510 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Sixth Street Specialty Lending by 1.5% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 315,104 shares of the financial services provider’s stock worth $6,727,000 after buying an additional 4,782 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Sixth Street Specialty Lending by 10.7% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 173,830 shares of the financial services provider’s stock valued at $3,711,000 after purchasing an additional 16,770 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in Sixth Street Specialty Lending by 5.4% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 572,480 shares of the financial services provider’s stock valued at $12,222,000 after purchasing an additional 29,365 shares in the last quarter. Finally, Baillie Gifford & Co. raised its holdings 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 acquiring an additional 184,634 shares during the last quarter. 70.25% of the stock is currently 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.