Sixth Street Specialty Lending (NYSE:TSLX) Reaches New 12-Month High – Here’s What Happened

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) reached a new 52-week high on Thursday . The stock traded as high as $23.15 and last traded at $23.05, with a volume of 5403 shares trading hands. The stock had previously closed at $23.12.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TSLX. Wells Fargo & Company upped their target price 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. Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 target price on shares of Sixth Street Specialty Lending in a report on Tuesday, November 12th. JPMorgan Chase & Co. boosted their price target on Sixth Street Specialty Lending from $22.50 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday. Truist Financial raised their price objective on Sixth Street Specialty Lending from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, LADENBURG THALM/SH SH downgraded Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a report on Friday, February 14th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Sixth Street Specialty Lending presently has an average rating of “Moderate Buy” and an average price target of $22.79.

Sixth Street Specialty Lending Price Performance

The firm has a fifty day moving average of $21.67 and a 200 day moving average of $21.07. 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 has a market capitalization of $2.16 billion, a P/E ratio of 11.36 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. Sixth Street Specialty Lending had a net margin of 38.67% and a return on equity of 13.47%. The company had revenue of $123.70 million for the quarter, compared to the consensus estimate of $120.07 million. On average, equities research analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.2 EPS for the current year.

Sixth Street Specialty Lending Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.21%. This is a boost from Sixth Street Specialty Lending’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Friday, March 14th. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is presently 90.64%.

Hedge Funds Weigh In On Sixth Street Specialty Lending

Several institutional investors have recently made changes to their positions in TSLX. Van ECK Associates Corp boosted its stake in shares of Sixth Street Specialty Lending by 4.5% during the 4th quarter. Van ECK Associates Corp now owns 2,393,069 shares of the financial services provider’s stock worth $50,972,000 after acquiring an additional 103,634 shares during the last quarter. Progeny 3 Inc. lifted its stake in shares of Sixth Street Specialty Lending by 6.1% during the 4th quarter. Progeny 3 Inc. now owns 2,390,680 shares of the financial services provider’s stock valued at $50,921,000 after buying an additional 137,906 shares in the last quarter. Sound Income Strategies LLC boosted its holdings in Sixth Street Specialty Lending by 5.6% in the 4th quarter. Sound Income Strategies LLC now owns 2,305,372 shares of the financial services provider’s stock worth $49,104,000 after buying an additional 122,312 shares during the period. Burgundy Asset Management Ltd. grew its position in shares of Sixth Street Specialty Lending by 1.7% during the fourth quarter. Burgundy Asset Management Ltd. now owns 2,192,486 shares of the financial services provider’s stock worth $46,700,000 after purchasing an additional 37,442 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in Sixth Street Specialty Lending by 2.9% during the 4th quarter. Wells Fargo & Company MN now owns 1,183,141 shares of the financial services provider’s stock valued at $25,201,000 after purchasing an additional 33,026 shares during the period. Institutional investors own 70.25% of the company’s stock.

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.