Royal Bank of Canada Issues Positive Forecast for Sixth Street Specialty Lending (NYSE:TSLX) Stock Price

Sixth Street Specialty Lending (NYSE:TSLX) had its target price increased by Royal Bank of Canada from $23.00 to $25.00 in a report released on Wednesday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the financial services provider’s stock.

TSLX has been the topic of a number of other reports. Truist Financial lifted their price target on shares of Sixth Street Specialty Lending from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Keefe, Bruyette & Woods lifted their price target on shares of Sixth Street Specialty Lending from $21.50 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. LADENBURG THALM/SH SH cut shares of Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a research report on Friday, February 14th. JPMorgan Chase & Co. lifted their price target on shares of Sixth Street Specialty Lending from $22.50 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company lifted their price target 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. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.07.

Sixth Street Specialty Lending Price Performance

Shares of TSLX stock opened at $23.27 on Wednesday. Sixth Street Specialty Lending has a 52-week low of $19.50 and a 52-week high of $23.66. The stock has a market cap of $2.18 billion, a PE ratio of 11.46 and a beta of 1.06. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.90 and a current ratio of 1.90. The firm’s 50 day moving average price is $21.85 and its two-hundred day moving average price is $21.15.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The firm had revenue of $123.70 million for the quarter, compared to analysts’ expectations of $120.07 million. Sixth Street Specialty Lending had a net margin of 38.67% and a return on equity of 13.47%. As a group, analysts forecast that Sixth Street Specialty Lending will post 2.19 EPS for the current year.

Sixth Street Specialty Lending Increases Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, March 20th. Investors of record on Monday, March 3rd will be given a $0.07 dividend. This is a boost from Sixth Street Specialty Lending’s previous dividend of $0.05. This represents a yield of 6.96%. The ex-dividend date is Friday, February 28th. Sixth Street Specialty Lending’s payout ratio is currently 90.64%.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Several institutional investors have recently added to or reduced their stakes in TSLX. Private Advisor Group LLC lifted its position in Sixth Street Specialty Lending by 26.8% in the 3rd quarter. Private Advisor Group LLC now owns 25,503 shares of the financial services provider’s stock valued at $524,000 after acquiring an additional 5,398 shares in the last quarter. Financial Advocates Investment Management increased its stake in Sixth Street Specialty Lending by 6.6% in the 3rd quarter. Financial Advocates Investment Management now owns 151,985 shares of the financial services provider’s stock valued at $3,120,000 after buying an additional 9,350 shares during the last quarter. Van ECK Associates Corp increased its stake in Sixth Street Specialty Lending by 6.6% in the 3rd quarter. Van ECK Associates Corp now owns 2,289,435 shares of the financial services provider’s stock valued at $47,117,000 after buying an additional 141,463 shares during the last quarter. Confluence Investment Management LLC increased its stake in Sixth Street Specialty Lending by 1.3% in the 3rd quarter. Confluence Investment Management LLC now owns 249,909 shares of the financial services provider’s stock valued at $5,131,000 after buying an additional 3,250 shares during the last quarter. Finally, Legacy Capital Wealth Partners LLC increased its stake in Sixth Street Specialty Lending by 98.6% in the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 144,698 shares of the financial services provider’s stock valued at $2,971,000 after buying an additional 71,849 shares during the last quarter. 70.25% of the stock is owned by institutional investors.

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.