Sixth Street Specialty Lending (NYSE:TSLX) Stock Price Down 0.2% – Here’s Why

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) fell 0.2% on Monday . The stock traded as low as $21.40 and last traded at $21.43. 67,478 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 346,745 shares. The stock had previously closed at $21.48.

Analyst Upgrades and Downgrades

TSLX has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods dropped their price objective on 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. Wells Fargo & Company reduced their price target on shares of Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $23.00 price objective on shares of Sixth Street Specialty Lending in a research report on Tuesday, November 12th. Finally, LADENBURG THALM/SH SH upgraded shares of Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Wednesday, November 6th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $22.00.

Sixth Street Specialty Lending Stock Up 0.6 %

The business’s 50 day moving average is $20.54 and its 200 day moving average is $20.98. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 1.17. The company has a market cap of $2.02 billion, a P/E ratio of 10.40 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share (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 during the quarter, compared to analysts’ expectations of $119.85 million. During the same quarter last year, the company posted $0.60 earnings per share. As a group, equities 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 announced a dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.05 per share. This represents a dividend yield of 7.59%. The ex-dividend date of this dividend is Friday, November 29th. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is 89.32%.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Several hedge funds have recently modified their holdings of the company. Van ECK Associates Corp raised its position in Sixth Street Specialty Lending by 6.6% during the third quarter. Van ECK Associates Corp now owns 2,289,435 shares of the financial services provider’s stock worth $47,117,000 after acquiring an additional 141,463 shares during the period. Progeny 3 Inc. raised its holdings in shares of Sixth Street Specialty Lending by 10.6% during the third quarter. Progeny 3 Inc. now owns 2,252,774 shares of the financial services provider’s stock valued at $46,249,000 after acquiring an additional 215,996 shares during the last quarter. Sound Income Strategies LLC lifted its position in shares of Sixth Street Specialty Lending by 2.5% in the third quarter. Sound Income Strategies LLC now owns 2,183,060 shares of the financial services provider’s stock valued at $44,818,000 after acquiring an additional 53,961 shares in the last quarter. Burgundy Asset Management Ltd. boosted its stake in shares of Sixth Street Specialty Lending by 1.4% in the second quarter. Burgundy Asset Management Ltd. now owns 2,105,853 shares of the financial services provider’s stock worth $44,960,000 after acquiring an additional 29,034 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its position in shares of Sixth Street Specialty Lending by 6.6% during the second quarter. 1832 Asset Management L.P. now owns 1,279,000 shares of the financial services provider’s stock worth $27,307,000 after purchasing an additional 79,000 shares in 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.