Sixth Street Specialty Lending (NYSE:TSLX) Hits New 1-Year High After Analyst Upgrade

Sixth Street Specialty Lending, Inc. (NYSE:TSLX)’s stock price reached a new 52-week high on Wednesday after Wells Fargo & Company raised their price target on the stock from $21.00 to $23.00. Wells Fargo & Company currently has an overweight rating on the stock. Sixth Street Specialty Lending traded as high as $22.26 and last traded at $22.22, with a volume of 44714 shares. The stock had previously closed at $22.11.

Other equities research analysts have also issued research reports about the company. LADENBURG THALM/SH SH upgraded 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 report on Wednesday, November 6th. Keefe, Bruyette & Woods lowered their price objective on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 target price on shares of Sixth Street Specialty Lending in a research report on Tuesday, November 12th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $22.33.

Hedge Funds Weigh In On Sixth Street Specialty Lending

A number of large investors have recently bought and sold shares of the stock. Van ECK Associates Corp boosted its holdings 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 valued at $50,972,000 after buying an additional 103,634 shares in the last quarter. Sound Income Strategies LLC raised its position in Sixth Street Specialty Lending by 5.6% in the fourth quarter. Sound Income Strategies LLC now owns 2,305,372 shares of the financial services provider’s stock worth $49,104,000 after acquiring an additional 122,312 shares during the period. Progeny 3 Inc. boosted its stake in shares of Sixth Street Specialty Lending by 10.6% during the 3rd quarter. Progeny 3 Inc. now owns 2,252,774 shares of the financial services provider’s stock worth $46,249,000 after acquiring an additional 215,996 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Sixth Street Specialty Lending by 16.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,175,388 shares of the financial services provider’s stock valued at $24,131,000 after acquiring an additional 162,810 shares during the period. Finally, Two Sigma Advisers LP increased its stake in shares of Sixth Street Specialty Lending by 1.1% in the 3rd quarter. Two Sigma Advisers LP now owns 867,286 shares of the financial services provider’s stock worth $17,805,000 after purchasing an additional 9,700 shares in the last quarter. 70.25% of the stock is owned by hedge funds and other institutional investors.

Sixth Street Specialty Lending Trading Up 1.4 %

The company has a market capitalization of $2.08 billion, a P/E ratio of 10.80 and a beta of 1.05. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.50 and a current ratio of 2.50. The stock has a fifty day moving average of $21.30 and a 200 day moving average of $20.93.

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 for the quarter, hitting the consensus estimate of $0.57. The business had revenue of $119.22 million during the quarter, compared to the consensus estimate of $119.85 million. Sixth Street Specialty Lending had a return on equity of 13.55% and a net margin of 39.05%. During the same period in the prior year, the company posted $0.60 EPS. As a group, equities research analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.31 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 2nd were given a $0.05 dividend. The ex-dividend date was Friday, November 29th. This represents a yield of 7.59%. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is 89.32%.

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.