Sixth Street Specialty Lending (NYSE:TSLX) Hits New 12-Month High Following Analyst Upgrade

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) reached a new 52-week high during 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 equities analysts also recently commented on the stock. Keefe, Bruyette & Woods reduced 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. LADENBURG THALM/SH SH upgraded 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 note on Wednesday, November 6th. Finally, 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. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $22.33.

Institutional Investors Weigh In On Sixth Street Specialty Lending

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TSLX. Trust Co. of Vermont purchased a new position in shares of Sixth Street Specialty Lending during the fourth quarter worth $39,000. Quarry LP increased its holdings in shares of 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 purchasing an additional 3,238 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new position in Sixth Street Specialty Lending during the third quarter worth about $86,000. EMC Capital Management boosted its position in shares of Sixth Street Specialty Lending by 92.5% during the fourth quarter. EMC Capital Management now owns 6,747 shares of the financial services provider’s stock worth $144,000 after buying an additional 3,242 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in Sixth Street Specialty Lending during the third quarter worth about $196,000. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Sixth Street Specialty Lending Stock Up 1.4 %

The business has a 50-day moving average price of $21.30 and a two-hundred day moving average price of $20.93. The firm has a market cap of $2.08 billion, a PE ratio of 10.80 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 issued its earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 analysts’ expectations of $119.85 million. During the same quarter in the prior year, the business posted $0.60 EPS. On average, equities research analysts expect that Sixth Street Specialty Lending, Inc. will post 2.31 EPS for the current year.

Sixth Street Specialty Lending Cuts Dividend

The firm also recently declared a dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 2nd were given a $0.05 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a yield of 7.59%. 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.