Sixth Street Specialty Lending (NYSE:TSLX) Shares Down 0.6% – Here’s Why

Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) traded down 0.6% during trading on Tuesday . The stock traded as low as $20.46 and last traded at $20.52. 62,632 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 345,085 shares. The stock had previously closed at $20.65.

Wall Street Analysts Forecast Growth

TSLX has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 price objective on shares of Sixth Street Specialty Lending in a research report on Tuesday, November 12th. LADENBURG THALM/SH SH upgraded 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 note on Wednesday, November 6th. Wells Fargo & Company dropped their price objective 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, Keefe, Bruyette & Woods decreased their target price on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $22.00.

Sixth Street Specialty Lending Trading Up 1.9 %

The company’s 50 day simple moving average is $20.75 and its 200 day simple moving average is $20.96. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.50 and a quick ratio of 2.50. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 10.10 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX) last released its earnings results on Tuesday, November 5th. The financial services provider reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. The firm had revenue of $119.22 million during the quarter, compared to analysts’ expectations of $119.85 million. Sixth Street Specialty Lending had a return on equity of 13.55% and a net margin of 39.05%. During the same period in the previous year, the firm posted $0.60 EPS. As a group, research analysts expect that Sixth Street Specialty Lending, Inc. will post 2.31 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently announced a dividend, which will be paid on Friday, December 20th. Investors of record on Monday, December 2nd will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a dividend yield of 7.59%. Sixth Street Specialty Lending’s payout ratio is 89.32%.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Institutional investors have recently modified their holdings of the company. Van ECK Associates Corp increased its holdings in shares of Sixth Street Specialty Lending by 18.6% in the 2nd quarter. Van ECK Associates Corp now owns 2,147,972 shares of the financial services provider’s stock valued at $45,859,000 after acquiring an additional 336,596 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Sixth Street Specialty Lending by 482.6% in the 2nd quarter. Millennium Management LLC now owns 287,311 shares of the financial services provider’s stock valued at $6,134,000 after buying an additional 237,995 shares in the last quarter. Progeny 3 Inc. grew its position in shares of Sixth Street Specialty Lending by 10.6% in the 3rd quarter. Progeny 3 Inc. now owns 2,252,774 shares of the financial services provider’s stock valued at $46,249,000 after buying an additional 215,996 shares during the last quarter. TrueMark Investments LLC acquired a new stake in Sixth Street Specialty Lending during the 2nd quarter worth $4,378,000. Finally, Baillie Gifford & Co. grew its holdings in shares of Sixth Street Specialty Lending by 81.9% during the second quarter. Baillie Gifford & Co. now owns 410,054 shares of the financial services provider’s stock worth $8,755,000 after purchasing an additional 184,634 shares during the last quarter. 70.25% of the stock is owned by hedge funds and other 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.