Sixth Street Specialty Lending (NYSE:TSLX) Sets New 12-Month High Following Dividend Announcement

Sixth Street Specialty Lending, Inc. (NYSE:TSLX)’s stock price reached a new 52-week high on Thursday following a dividend announcement from the company. The company traded as high as $23.76 and last traded at $23.35, with a volume of 102 shares trading hands. The stock had previously closed at $23.26.

The newly announced dividend which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.07 per share. This represents a dividend yield of 6.96%. This is a boost from Sixth Street Specialty Lending’s previous dividend of $0.05. The ex-dividend date of this dividend is Friday, February 28th. Sixth Street Specialty Lending’s dividend payout ratio is currently 90.64%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Sixth Street Specialty Lending from $22.50 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Wells Fargo & Company increased their price objective on shares of 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. Keefe, Bruyette & Woods boosted their target price on Sixth Street Specialty Lending from $21.50 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. LADENBURG THALM/SH SH downgraded Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a report on Friday, February 14th. Finally, Truist Financial lifted their target price on Sixth Street Specialty Lending from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $23.07.

Sixth Street Specialty Lending Stock Up 0.5 %

The stock has a market capitalization of $2.19 billion, a PE ratio of 11.51 and a beta of 1.06. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 1.18. The company’s 50-day moving average is $21.91 and its 200 day moving average is $21.17.

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

Hedge Funds Weigh In On Sixth Street Specialty Lending

A number of large investors have recently added to or reduced their stakes in TSLX. Ameriflex Group Inc. purchased a new position in shares of Sixth Street Specialty Lending in the fourth quarter valued at approximately $27,000. Trust Co. of Vermont purchased a new stake in Sixth Street Specialty Lending in the 4th quarter valued at $39,000. First Horizon Advisors Inc. increased its stake in shares of Sixth Street Specialty Lending by 25.3% in the 4th quarter. First Horizon Advisors Inc. now owns 2,302 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 465 shares during the last quarter. Quarry LP raised its holdings in shares of Sixth Street Specialty Lending by 378.3% during the 3rd quarter. Quarry LP now owns 4,094 shares of the financial services provider’s stock worth $84,000 after acquiring an additional 3,238 shares during the period. Finally, Signaturefd LLC boosted its position in shares of Sixth Street Specialty Lending by 13.3% during the 4th quarter. Signaturefd LLC now owns 4,673 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 550 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.