Sixth Street Specialty Lending (NYSE:TSLX) Sets New 52-Week High After Analyst Upgrade

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) shares 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 traded. The stock had previously closed at $22.11.

TSLX has been the subject of a number of other research reports. Keefe, Bruyette & Woods dropped their target price on 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. LADENBURG THALM/SH SH upgraded shares of 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. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $23.00 target price on shares of Sixth Street Specialty Lending in a research note on Tuesday, November 12th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $22.33.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cornerstone Wealth Management LLC increased its holdings in shares of Sixth Street Specialty Lending by 1.4% in the fourth quarter. Cornerstone Wealth Management LLC now owns 46,184 shares of the financial services provider’s stock worth $984,000 after acquiring an additional 621 shares in the last quarter. Platform Technology Partners grew its position in shares of Sixth Street Specialty Lending by 3.5% in the 4th quarter. Platform Technology Partners now owns 28,925 shares of the financial services provider’s stock valued at $616,000 after purchasing an additional 980 shares during the period. Confluence Investment Management LLC increased its stake in Sixth Street Specialty Lending by 0.5% during the 4th quarter. Confluence Investment Management LLC now owns 251,182 shares of the financial services provider’s stock worth $5,350,000 after purchasing an additional 1,273 shares in the last quarter. Barnett & Company Inc. raised its holdings in Sixth Street Specialty Lending by 4.7% during the 3rd quarter. Barnett & Company Inc. now owns 29,050 shares of the financial services provider’s stock worth $596,000 after buying an additional 1,300 shares during the period. Finally, Sanctuary Advisors LLC lifted its stake in Sixth Street Specialty Lending by 6.3% in the third quarter. Sanctuary Advisors LLC now owns 24,168 shares of the financial services provider’s stock valued at $502,000 after buying an additional 1,441 shares in the last quarter. Institutional investors own 70.25% of the company’s stock.

Sixth Street Specialty Lending Price Performance

The company’s fifty day moving average price is $21.27 and its two-hundred day moving average price is $20.92. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 1.17. The company has a market cap of $2.05 billion, a price-to-earnings ratio of 10.64 and a beta of 1.05.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $0.57 EPS for the quarter, hitting 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 for the quarter, compared to analyst estimates of $119.85 million. During the same quarter in the previous year, the firm posted $0.60 earnings per share. On average, equities research analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.31 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 2nd were paid 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 currently 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.