Sixth Street Specialty Lending (NYSE:TSLX) Given New $23.00 Price Target at JPMorgan Chase & Co.

Sixth Street Specialty Lending (NYSE:TSLX) had its target price raised by JPMorgan Chase & Co. from $22.50 to $23.00 in a research note released on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the financial services provider’s stock.

Several other brokerages have also issued reports on TSLX. Wells Fargo & Company boosted their price target on shares of Sixth Street Specialty Lending from $21.00 to $23.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Keefe, Bruyette & Woods upped their price objective on Sixth Street Specialty Lending from $21.50 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday. Royal Bank of Canada reissued an “outperform” rating and issued a $23.00 price objective on shares of Sixth Street Specialty Lending in a report on Tuesday, November 12th. Finally, LADENBURG THALM/SH SH downgraded shares of Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a report on Friday, February 14th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Sixth Street Specialty Lending currently has a consensus rating of “Moderate Buy” and an average price target of $22.79.

Sixth Street Specialty Lending Price Performance

Shares of TSLX stock opened at $23.08 on Tuesday. The firm’s 50 day moving average is $21.60 and its 200-day moving average is $21.03. The firm has a market capitalization of $2.15 billion, a price-to-earnings 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 has a 1 year low of $19.50 and a 1 year high of $23.15.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its earnings results on Thursday, February 13th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.04. Sixth Street Specialty Lending had a return on equity of 13.55% and a net margin of 39.05%. The company had revenue of $123.70 million during the quarter, compared to analyst estimates of $120.07 million. Sell-side analysts forecast that Sixth Street Specialty Lending will post 2.31 EPS for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.07 per share. This is an increase 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%. The ex-dividend date is Friday, March 14th. Sixth Street Specialty Lending’s payout ratio is currently 89.32%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Private Advisor Group LLC raised its position in shares of Sixth Street Specialty Lending by 26.8% during the third quarter. Private Advisor Group LLC now owns 25,503 shares of the financial services provider’s stock worth $524,000 after acquiring an additional 5,398 shares during the last quarter. Legacy Capital Wealth Partners LLC increased its position in Sixth Street Specialty Lending by 98.6% during 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 purchasing an additional 71,849 shares during the period. JPMorgan Chase & Co. lifted 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 worth $24,131,000 after purchasing an additional 162,810 shares during the period. Van ECK Associates Corp raised its stake in Sixth Street Specialty Lending by 6.6% during the third quarter. Van ECK Associates Corp now owns 2,289,435 shares of the financial services provider’s stock worth $47,117,000 after buying an additional 141,463 shares during the last quarter. Finally, Gilman Hill Asset Management LLC acquired a new position in Sixth Street Specialty Lending in the fourth quarter valued at approximately $1,974,000. 70.25% of the stock is owned by institutional investors and hedge funds.

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.