Sixth Street Specialty Lending, Inc. (NYSE:TSLX – Get Rating) shares reached a new 52-week low on Friday . The company traded as low as $17.99 and last traded at $18.00, with a volume of 3645 shares. The stock had previously closed at $18.20.
Wall Street Analyst Weigh In
TSLX has been the subject of a number of research analyst reports. StockNews.com downgraded Sixth Street Specialty Lending from a "hold" rating to a "sell" rating in a research report on Wednesday. TheStreet cut Sixth Street Specialty Lending from a "b-" rating to a "c" rating in a research report on Thursday, August 11th. Hovde Group decreased their target price on Sixth Street Specialty Lending to $21.00 in a research report on Friday, May 20th. Finally, Raymond James decreased their target price on Sixth Street Specialty Lending from $25.00 to $22.00 and set an "outperform" rating for the company in a research report on Thursday, August 4th. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $23.38.
Get Sixth Street Specialty Lending alerts:Sixth Street Specialty Lending Stock Down 1.7 %
The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.01. The business has a fifty day simple moving average of $18.93 and a two-hundred day simple moving average of $20.61. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 11.10 and a beta of 1.05.
Sixth Street Specialty Lending (NYSE:TSLX – Get Rating) last posted its earnings results on Tuesday, August 2nd. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.03. Sixth Street Specialty Lending had a net margin of 44.20% and a return on equity of 12.98%. The company had revenue of $63.89 million during the quarter, compared to analysts' expectations of $69.95 million. Equities analysts expect that Sixth Street Specialty Lending, Inc. will post 1.95 EPS for the current year.Sixth Street Specialty Lending Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 9.39%. This is a boost from Sixth Street Specialty Lending's previous quarterly dividend of $0.41. Sixth Street Specialty Lending's payout ratio is 103.07%.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. raised its position in shares of Sixth Street Specialty Lending by 4.0% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 15,432 shares of the financial services provider's stock valued at $361,000 after acquiring an additional 590 shares during the last quarter. HighTower Advisors LLC boosted its stake in Sixth Street Specialty Lending by 25.3% in the 4th quarter. HighTower Advisors LLC now owns 19,201 shares of the financial services provider's stock worth $448,000 after purchasing an additional 3,871 shares during the period. Qube Research & Technologies Ltd acquired a new position in shares of Sixth Street Specialty Lending during the 4th quarter worth about $778,000. PARK CIRCLE Co boosted its stake in shares of Sixth Street Specialty Lending by 250.0% during the 4th quarter. PARK CIRCLE Co now owns 35,000 shares of the financial services provider's stock worth $819,000 after buying an additional 25,000 shares during the last quarter. Finally, Legacy Capital Wealth Partners LLC boosted its stake in shares of Sixth Street Specialty Lending by 4.3% during the 4th quarter. Legacy Capital Wealth Partners LLC now owns 54,286 shares of the financial services provider's stock worth $1,292,000 after buying an additional 2,250 shares during the last quarter. Institutional investors own 43.63% of the company's stock.
About Sixth Street Specialty Lending
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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.
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