Truist Financial Issues Positive Forecast for Sixth Street Specialty Lending (NYSE:TSLX) Stock Price

Sixth Street Specialty Lending (NYSE:TSLX) had its price target increased by Truist Financial from $23.00 to $24.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Truist Financial currently has a buy rating on the financial services provider’s stock.

Several other analysts have also recently commented on the company. LADENBURG THALM/SH SH cut Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a report on Friday, February 14th. Keefe, Bruyette & Woods raised their price target on Sixth Street Specialty Lending from $21.50 to $23.00 and gave the company an “outperform” rating in a report on Tuesday. JPMorgan Chase & Co. raised their price target on Sixth Street Specialty Lending from $22.50 to $23.00 and gave the company an “overweight” rating in a report on Tuesday. Wells Fargo & Company raised their price target on Sixth Street Specialty Lending from $21.00 to $23.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $23.00 price target on shares of Sixth Street Specialty Lending in a report on Tuesday, November 12th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.79.

Sixth Street Specialty Lending Trading Up 0.5 %

Shares of TSLX stock opened at $23.08 on Tuesday. The business’s 50 day moving average is $21.60 and its two-hundred day moving average is $21.03. Sixth Street Specialty Lending has a twelve month low of $19.50 and a twelve month high of $23.15. The company has a market capitalization of $2.15 billion, a P/E ratio of 11.20 and a beta of 1.06. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 1.17.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.61 EPS for the quarter, beating the consensus estimate of $0.57 by $0.04. The business had revenue of $123.70 million during the quarter, compared to analysts’ expectations of $120.07 million. Sixth Street Specialty Lending had a return on equity of 13.55% and a net margin of 39.05%. Equities analysts forecast that Sixth Street Specialty Lending will post 2.31 EPS for the current year.

Sixth Street Specialty Lending Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.07 per share. The ex-dividend date is Friday, March 14th. This is a boost from Sixth Street Specialty Lending’s previous quarterly dividend of $0.05. This represents a $0.28 annualized dividend and a yield of 1.21%. Sixth Street Specialty Lending’s payout ratio is currently 89.32%.

Hedge Funds Weigh In On Sixth Street Specialty Lending

A number of institutional investors have recently made changes to their positions in TSLX. Raymond James Financial Inc. acquired a new position in shares of Sixth Street Specialty Lending in the fourth quarter worth $17,488,000. Columbus Macro LLC purchased a new stake in Sixth Street Specialty Lending during the fourth quarter valued at about $7,669,000. Progeny 3 Inc. boosted its position in shares of Sixth Street Specialty Lending by 10.6% in the third quarter. Progeny 3 Inc. now owns 2,252,774 shares of the financial services provider’s stock worth $46,249,000 after buying an additional 215,996 shares during the period. Parkwood LLC purchased a new stake in shares of Sixth Street Specialty Lending in the fourth quarter worth about $3,937,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Sixth Street Specialty Lending by 16.1% in the third quarter. JPMorgan Chase & Co. now owns 1,175,388 shares of the financial services provider’s stock worth $24,131,000 after buying an additional 162,810 shares during the period. 70.25% of the stock is owned by institutional investors and hedge funds.

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.