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

Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) reached a new 52-week high during mid-day trading 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 changing hands. The stock had previously closed at $22.11.

A number of other research analysts also recently issued reports on the stock. Keefe, Bruyette & Woods decreased their price target 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 price objective on shares of Sixth Street Specialty Lending in a research report on Tuesday, November 12th. Finally, LADENBURG THALM/SH SH raised shares of Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Wednesday, November 6th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $22.33.

Institutional Trading of Sixth Street Specialty Lending

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Trust Co. of Vermont purchased a new stake in shares of Sixth Street Specialty Lending during the 4th quarter worth approximately $39,000. Quarry LP grew its holdings in 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 valued at $84,000 after buying an additional 3,238 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new position in Sixth Street Specialty Lending during the third quarter worth $86,000. EMC Capital Management raised its holdings in shares of Sixth Street Specialty Lending by 92.5% in the fourth quarter. EMC Capital Management now owns 6,747 shares of the financial services provider’s stock worth $144,000 after acquiring an additional 3,242 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Sixth Street Specialty Lending during the third quarter valued at $196,000. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Sixth Street Specialty Lending Trading Down 0.7 %

The business has a 50 day moving average of $21.27 and a 200 day moving average of $20.92. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 10.67 and a beta of 1.05. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 1.17.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. Sixth Street Specialty Lending had a net margin of 39.05% and a return on equity of 13.55%. The business had revenue of $119.22 million during the quarter, compared to analyst estimates of $119.85 million. During the same quarter in the previous year, the business posted $0.60 earnings per share. On average, research analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.31 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

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

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.