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

Sixth Street Specialty Lending, Inc. (NYSE:TSLX)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $23.15 and last traded at $23.05, with a volume of 5403 shares changing hands. The stock had previously closed at $23.12.

Analyst Ratings Changes

Several equities research analysts have commented on TSLX shares. JPMorgan Chase & Co. upped their price target on shares of Sixth Street Specialty Lending from $22.50 to $23.00 and gave the company an “overweight” rating in a report on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $23.00 price target on shares of Sixth Street Specialty Lending in a research note on Tuesday, November 12th. Truist Financial raised their price target on shares of Sixth Street Specialty Lending from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday. 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. Finally, Wells Fargo & Company raised 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 report on Wednesday, January 29th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on 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 Price Performance

The stock’s fifty day moving average price is $21.70 and its 200-day moving average price is $21.08. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of 11.57 and a beta of 1.06. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 1.18.

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 for the quarter, beating the consensus estimate of $0.57 by $0.04. Sixth Street Specialty Lending had a net margin of 38.67% and a return on equity of 13.47%. The firm had revenue of $123.70 million during the quarter, compared to the consensus estimate of $120.07 million. As a group, equities research analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.19 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.07 per share. This is a boost from Sixth Street Specialty Lending’s previous dividend of $0.05. This represents a dividend yield of 7.06%. The ex-dividend date is Friday, February 28th. Sixth Street Specialty Lending’s payout ratio is 90.64%.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Several hedge funds and other institutional investors have recently bought and sold shares of TSLX. Private Advisor Group LLC increased its stake in Sixth Street Specialty Lending by 26.8% in the third quarter. Private Advisor Group LLC now owns 25,503 shares of the financial services provider’s stock valued at $524,000 after purchasing an additional 5,398 shares during the period. Legacy Capital Wealth Partners LLC boosted its holdings in Sixth Street Specialty Lending by 98.6% during the third quarter. Legacy Capital Wealth Partners LLC now owns 144,698 shares of the financial services provider’s stock worth $2,971,000 after buying an additional 71,849 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Sixth Street Specialty Lending by 16.1% during 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 in the last quarter. Van ECK Associates Corp boosted its holdings 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 in the last quarter. Finally, Gilman Hill Asset Management LLC purchased a new stake in Sixth Street Specialty Lending during the fourth quarter worth about $1,974,000. 70.25% of the stock is currently 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.