Sixth Street Specialty Lending (NYSE:TSLX) Sees Strong Trading Volume After Dividend Announcement

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) shares saw strong trading volume on Friday following a dividend announcement from the company. 1,443,343 shares changed hands during trading, an increase of 329% from the previous session’s volume of 336,511 shares.The stock last traded at $23.65 and had previously closed at $23.07.

The newly announced dividend which will be paid on Thursday, March 20th. Investors of record on Monday, March 3rd will be paid a $0.07 dividend. This is a positive change from Sixth Street Specialty Lending’s previous dividend of $0.05. The ex-dividend date of this dividend is Friday, February 28th. This represents a yield of 7.06%. Sixth Street Specialty Lending’s payout ratio is currently 90.64%.

Analyst Ratings Changes

A number of research firms have commented on TSLX. Truist Financial boosted their price objective on Sixth Street Specialty Lending from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $23.00 price objective on shares of Sixth Street Specialty Lending in a report on Tuesday, November 12th. LADENBURG THALM/SH SH downgraded Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a report on Friday, February 14th. JPMorgan Chase & Co. raised their price target on Sixth Street Specialty Lending from $22.50 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Wells Fargo & Company raised their price target on Sixth Street Specialty Lending from $21.00 to $23.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.79.

Sixth Street Specialty Lending Stock Performance

The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 1.18. The stock has a fifty day moving average of $21.70 and a 200-day moving average of $21.08. The firm has a market capitalization of $2.19 billion, a P/E ratio of 11.56 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 38.67%. The firm had revenue of $123.70 million during the quarter, compared to the consensus estimate of $120.07 million. On average, research analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Whittier Trust Co. of Nevada Inc. acquired a new stake in Sixth Street Specialty Lending during the 3rd quarter worth approximately $196,000. Private Advisor Group LLC raised its holdings in shares of Sixth Street Specialty Lending by 26.8% during the 3rd quarter. Private Advisor Group LLC now owns 25,503 shares of the financial services provider’s stock worth $524,000 after buying an additional 5,398 shares in the last quarter. Romano Brothers AND Company raised its holdings in shares of Sixth Street Specialty Lending by 50.8% during the 3rd quarter. Romano Brothers AND Company now owns 26,700 shares of the financial services provider’s stock worth $548,000 after buying an additional 9,000 shares in the last quarter. Grimes & Company Inc. raised its holdings in shares of Sixth Street Specialty Lending by 16.4% during the 3rd quarter. Grimes & Company Inc. now owns 18,400 shares of the financial services provider’s stock worth $378,000 after buying an additional 2,591 shares in the last quarter. Finally, Financial Advocates Investment Management raised its holdings in shares of Sixth Street Specialty Lending by 6.6% during the 3rd quarter. Financial Advocates Investment Management now owns 151,985 shares of the financial services provider’s stock worth $3,120,000 after buying an additional 9,350 shares in the last quarter. 70.25% of the stock is currently owned by institutional investors.

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.