TSLX - TPG Specialty Lending, Inc.

NYSE - NYSE Delayed Price. Currency in USD
20.77
-0.13 (-0.62%)
At close: 4:02PM EDT
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Previous Close20.90
Open20.90
Bid20.62 x 800
Ask20.78 x 900
Day's Range20.68 - 20.94
52 Week Range17.75 - 21.24
Volume197,102
Avg. Volume203,146
Market Cap1.376B
Beta (3Y Monthly)0.66
PE Ratio (TTM)9.85
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & Yield1.56 (7.46%)
Ex-Dividend Date2019-08-29
1y Target EstN/A
Trade prices are not sourced from all markets
  • Barneys Files for Bankruptcy As Rents Rise and Visitors Fall
    Bloomberg

    Barneys Files for Bankruptcy As Rents Rise and Visitors Fall

    (Bloomberg) -- Barneys New York Inc. filed for bankruptcy protection from creditors and laid out plans to shutter most of its stores after getting squeezed by rising rents and fewer visitors to its luxury fashion stores.The Chapter 11 filing in New York allows the department-store chain to stay open while it seeks to sell a slimmed-down business and to negotiate with its landlords.The company, owned by billionaire investor Richard Perry, said it has secured $75 million from affiliates of Hilco Global and Gordon Brothers Group to help meet its financial commitments. Authentic Brands Group LLC is one party in discussions with the retailer to potentially purchase assets including the company’s name brand and trademarks.“Like many in our industry, Barneys New York’s financial position has been dramatically impacted by the challenging retail environment and rent structures that are excessively high relative to market demand,” Chief Executive Officer Daniella Vitale said in a statement Tuesday.Barneys’ proposed bankruptcy loan would allow it to repay $50 million of debt and provide $25 million to help facilitate a sale in the next 60 days, court papers show. Before Barneys arranged that financing, one existing lender -- TPG Specialty Lending Inc. -- proposed $10 million of new money financing that would have required going-out-of-business sales at all but two Barneys stores, other court papers show.What’s ClosingThe bankruptcy had been telegraphed for several weeks as the retailer sought to avert Chapter 11 by finding a partner or buyer. Barneys said its stores on Madison Avenue and downtown New York City will remain open, as well as locations in Beverly Hills, San Francisco and Boston.The company currently employs 2,300 people, according to court papers.Two Barneys Warehouse locations will also stay open, and online operations will continue to operate. Among locations slated for closure include stores in Chicago, Las Vegas and Seattle, in addition to five smaller concept stores and seven Barneys Warehouse locations.“Aside from the high price tags on goods, this department store faces the same challenges as any department store,” George Angelich, partner at restructuring law firm Arent Fox, said in an interview before the filing. As rents increase and consumers shift to buying online, “it becomes very challenging to maintain profitability,” said Angelich, who isn’t involved in the case.Prior BustFounded as a men’s retailer in 1923 in Manhattan, Barneys morphed into a high fashion icon for women and men by the 1970s. It went bankrupt once before in 1996, after a falling out with a Japanese partner.Earlier this year, Barneys sought to downsize the Madison Avenue store to reduce the annual rent, which tripled this year, Bloomberg previously reported. The retailer was working on a restructuring plan with advisers at MIII Partners and Houlihan Lokey, and lawyers at Kirkland & Ellis.The chain listed $200 million of funded liabilities, with $800 million of revenue in 2018, according to papers filed in U.S. Bankruptcy Court for the Southern District of New York. Barneys also says it has about $120 million of federal net operating losses that could be used to offset future taxable income. Barneys is asking court permission to reject 15 store leases across the country, including deals with Brookfield Properties Inc. and Simon Property Group Inc. That could save the the company $2.2 million per month in rent and related expenses, Chief Restructuring Officer Moshin Y. Meghji said in a court declaration.Vendor UncertaintyThe prospect of liquidation sales at such a high-end store raised questions about how discounting could affect Barneys’ relationships with its vendors.“Barneys works with the crème de la crème of vendors, who don’t want their items hitting the market at discounted prices, and are probably not used to their merchants filing for bankruptcy,” said Stephen Selbst, chair of the restructuring and bankruptcy group at New York law firm Herrick, Feinstein LLP. “Their only possible recourse is to offer to buy back inventory to avoid it hitting the distribution channel, but that’s expensive. It’s going to be a walk into a very cold shower.”While maintaining good relationships with its vendors will be crucial to turning Barneys’ remaining business around, David Silverman, Senior Director in Fitch Ratings’ corporate group, wasn’t too concerned about the implications of discounting related to store closings.“It’s not like the company’s going to be putting yellow 40% off signs in the window,” Silverman said. “You can discount a good product by a little bit and drive a lot of excitement and traffic into the stores.”He added that, “customers are aware that these kind of markdown events are one time. This is an isolated incident.”The case is Barneys New York Inc., 19-36300-cgm, U.S. Bankruptcy Court for the Southern District of New York (Poughkeepsie).(Updates with potential buyer in third paragraph, bankruptcy loan uses in fifth paragraph and commentary on vendors in paragraphs 13 through 17)\--With assistance from Jordyn Holman, Anne Riley Moffat, Eliza Ronalds-Hannon and Lauren Coleman-Lochner.To contact the reporters on this story: Katherine Doherty in New York at kdoherty23@bloomberg.net;Jeremy Hill in New York at jhill273@bloomberg.netTo contact the editors responsible for this story: Rick Green at rgreen18@bloomberg.net, Nicole Bullock, Dan WilchinsFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Thomson Reuters StreetEvents

    Edited Transcript of TSLX earnings conference call or presentation 1-Aug-19 12:30pm GMT

    Q2 2019 TPG Specialty Lending Inc Earnings Call

  • TPG Specialty Lending Inc (TSLX) Q2 2019 Earnings Call Transcript
    Motley Fool

    TPG Specialty Lending Inc (TSLX) Q2 2019 Earnings Call Transcript

    TSLX earnings call for the period ending June 30, 2019.

  • PFSI vs. TSLX: Which Stock Should Value Investors Buy Now?
    Zacks

    PFSI vs. TSLX: Which Stock Should Value Investors Buy Now?

    PFSI vs. TSLX: Which Stock Is the Better Value Option?

  • TPG Specialty (TSLX) Surpasses Q2 Earnings and Revenue Estimates
    Zacks

    TPG Specialty (TSLX) Surpasses Q2 Earnings and Revenue Estimates

    TPG (TSLX) delivered earnings and revenue surprises of 2.17% and 8.76%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?

  • Analysts Estimate TPG Specialty (TSLX) to Report a Decline in Earnings: What to Look Out for
    Zacks

    Analysts Estimate TPG Specialty (TSLX) to Report a Decline in Earnings: What to Look Out for

    TPG (TSLX) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

  • Moving Average Crossover Alert: TPG Specialty Lending
    Zacks

    Moving Average Crossover Alert: TPG Specialty Lending

    TPG Specialty Lending could be a stock to avoid from a technical perspective.

  • Here’s What Hedge Funds Think About TPG Specialty Lending Inc (TSLX)
    Insider Monkey

    Here’s What Hedge Funds Think About TPG Specialty Lending Inc (TSLX)

    Russell 2000 ETF (IWM) lagged the larger S&P 500 ETF (SPY) by nearly 9 percentage points since the end of the third quarter of 2018 as investors worried over the possible ramifications of rising interest rates and escalation of the trade war with China. The hedge funds and institutional investors we track typically invest more […]

  • Markit

    See what the IHS Markit Score report has to say about TPG Specialty Lending Inc.

    TPG Specialty Lending Inc NYSE:TSLXView full report here! Summary * Bearish sentiment is low * Economic output for the sector is expanding but at a slower rate Bearish sentimentShort interest | PositiveShort interest is low for TSLX with fewer than 5% of shares on loan. The last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment among investors who seek to profit from falling equity prices. Money flowETF/Index ownership | NeutralETF activity is neutral. ETFs that hold TSLX had net inflows of $14 million over the last one-month. While these are not among the highest inflows of the last year, the rate of inflow is increasing. Economic sentimentPMI by IHS Markit | NegativeAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Financials sector is rising. The rate of growth is weak relative to the trend shown over the past year, however, and is easing. Credit worthinessCredit default swapCDS data is not available for this security.Please send all inquiries related to the report to score@ihsmarkit.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.

  • Thomson Reuters StreetEvents

    Edited Transcript of TSLX earnings conference call or presentation 3-May-19 12:30pm GMT

    Q1 2019 TPG Specialty Lending Inc Earnings Call

  • TPG Specialty Lending Inc (TSLX) Q1 2019 Earnings Call Transcript
    Motley Fool

    TPG Specialty Lending Inc (TSLX) Q1 2019 Earnings Call Transcript

    TSLX earnings call for the period ending March 31, 2019.

  • TPG Specialty (TSLX) Misses Q1 Earnings and Revenue Estimates
    Zacks

    TPG Specialty (TSLX) Misses Q1 Earnings and Revenue Estimates

    TPG (TSLX) delivered earnings and revenue surprises of -8.89% and -4.34%, respectively, for the quarter ended March 2019. Do the numbers hold clues to what lies ahead for the stock?

  • Is TPG Specialty Lending Inc (TSLX) A Good Stock To Buy?
    Insider Monkey

    Is TPG Specialty Lending Inc (TSLX) A Good Stock To Buy?

    Hedge funds and other investment firms run by legendary investors like Israel Englander, Jeffrey Talpins and Ray Dalio are entrusted to manage billions of dollars of accredited investors' money because they are without peer in the resources they use to identify the best investments for their chosen investment horizon. Moreover, they are more willing to […]

  • Earnings Preview: TPG Specialty (TSLX) Q1 Earnings Expected to Decline
    Zacks

    Earnings Preview: TPG Specialty (TSLX) Q1 Earnings Expected to Decline

    TPG (TSLX) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

  • Thomson Reuters StreetEvents

    Edited Transcript of TSLX earnings conference call or presentation 21-Feb-19 1:30pm GMT

    Q4 2018 TPG Specialty Lending Inc Earnings Call

  • TPG Specialty Lending Inc (TSLX) Q4 2018 Earnings Conference Call Transcript
    Motley Fool

    TPG Specialty Lending Inc (TSLX) Q4 2018 Earnings Conference Call Transcript

    TSLX earnings call for the period ending December 31, 2018.

  • Associated Press

    TPG: 4Q Earnings Snapshot

    On a per-share basis, the Fort Worth, Texas-based company said it had profit of 22 cents. Earnings, adjusted for investment costs, were 67 cents per share. The results surpassed Wall Street expectations. ...

  • TPG Specialty (TSLX) Q4 Earnings and Revenues Surpass Estimates
    Zacks

    TPG Specialty (TSLX) Q4 Earnings and Revenues Surpass Estimates

    TPG (TSLX) delivered earnings and revenue surprises of 28.85% and 14.89%, respectively, for the quarter ended December 2018. Do the numbers hold clues to what lies ahead for the stock?

  • TPG Specialty (TSLX) Earnings Expected to Grow: What to Know Ahead of Next Week's Release
    Zacks

    TPG Specialty (TSLX) Earnings Expected to Grow: What to Know Ahead of Next Week's Release

    TPG (TSLX) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

  • 3 Dividend Stocks That Pay You More Than Exxon Does
    Motley Fool

    3 Dividend Stocks That Pay You More Than Exxon Does

    If you're like many investors looking for safer stocks while the market cools down, these are three excellent dividend stocks with yields dwarfing Exxon Mobil's.