Sixth Street Specialty Lending (NYSE:TSLX) Reaches New 52-Week High – Here’s What Happened

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $22.43 and last traded at $22.39, with a volume of 235994 shares trading hands. The stock had previously closed at $22.38.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Keefe, Bruyette & Woods decreased 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 report on Thursday, November 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 target price on shares of Sixth Street Specialty Lending in a report on Tuesday, November 12th. Wells Fargo & Company lifted 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 report on Wednesday, January 29th. 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 target price for the company in a report on Wednesday, November 6th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $22.33.

Sixth Street Specialty Lending Stock Up 0.0 %

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 firm’s fifty day moving average is $21.37 and its 200 day moving average is $20.93. The firm has a market cap of $2.09 billion, a P/E ratio of 10.87 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share for the quarter, hitting 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 previous year, the company earned $0.60 EPS. As a group, equities research analysts anticipate 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. Shareholders of record on Monday, December 2nd were paid a $0.05 dividend. This represents a yield of 7.59%. The ex-dividend date of this dividend was Friday, November 29th. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is 89.32%.

Institutional Trading of Sixth Street Specialty Lending

Several hedge funds and other institutional investors have recently bought and sold shares of TSLX. Van ECK Associates Corp raised its position in shares of Sixth Street Specialty Lending by 4.5% in 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 shares of 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 valued at $49,104,000 after buying an additional 122,312 shares in the last quarter. Progeny 3 Inc. raised its position in shares of Sixth Street Specialty Lending by 10.6% in the 3rd quarter. Progeny 3 Inc. now owns 2,252,774 shares of the financial services provider’s stock valued at $46,249,000 after buying an additional 215,996 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Sixth Street Specialty Lending by 16.1% in 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 buying an additional 162,810 shares in the last quarter. Finally, Two Sigma Advisers LP raised its position 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 valued at $17,805,000 after buying an additional 9,700 shares in the last quarter. Institutional investors and hedge funds 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.