Sixth Street Specialty Lending (NYSE:TSLX) Hits New 1-Year High – Here’s Why

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $23.75 and last traded at $23.63, with a volume of 215054 shares trading hands. The stock had previously closed at $23.38.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. LADENBURG THALM/SH SH downgraded shares of Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a research report on Friday, February 14th. Royal Bank of Canada increased their price target on Sixth Street Specialty Lending from $23.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Raymond James cut their price objective on Sixth Street Specialty Lending from $24.00 to $23.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. B. Riley initiated coverage on Sixth Street Specialty Lending in a report on Tuesday, May 13th. They issued a “buy” rating and a $23.00 target price on the stock. Finally, Keefe, Bruyette & Woods boosted their price target on Sixth Street Specialty Lending from $21.50 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $22.81.

Sixth Street Specialty Lending Trading Up 0.5%

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 has a market capitalization of $2.21 billion, a price-to-earnings ratio of 11.59 and a beta of 0.83. The company has a 50 day moving average price of $21.44 and a two-hundred day moving average price of $21.75.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.56 by $0.02. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 38.67%. The firm had revenue of $113.92 billion during the quarter, compared to the consensus estimate of $116.70 million. During the same period in the prior year, the company earned $0.52 EPS. On average, research analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current year.

Sixth Street Specialty Lending Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, June 20th. Investors of record on Monday, June 2nd will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a yield of 9.21%. Sixth Street Specialty Lending’s payout ratio is presently 97.35%.

Institutional Trading of Sixth Street Specialty Lending

Hedge funds have recently bought and sold shares of the business. Strs Ohio purchased a new stake in shares of Sixth Street Specialty Lending in the first quarter valued at approximately $79,698,000. Van ECK Associates Corp grew its holdings in Sixth Street Specialty Lending by 4.5% in the 4th quarter. Van ECK Associates Corp now owns 2,393,069 shares of the financial services provider’s stock valued at $50,972,000 after buying an additional 103,634 shares in the last quarter. Progeny 3 Inc. increased its stake in shares of Sixth Street Specialty Lending by 6.1% in the 4th quarter. Progeny 3 Inc. now owns 2,390,680 shares of the financial services provider’s stock worth $50,921,000 after acquiring an additional 137,906 shares during the last quarter. Sound Income Strategies LLC increased its stake in shares of Sixth Street Specialty Lending by 2.4% in the 1st quarter. Sound Income Strategies LLC now owns 2,361,139 shares of the financial services provider’s stock worth $52,842,000 after acquiring an additional 55,767 shares during the last quarter. Finally, Burgundy Asset Management Ltd. raised its holdings in shares of Sixth Street Specialty Lending by 7.0% during the 1st quarter. Burgundy Asset Management Ltd. now owns 2,347,046 shares of the financial services provider’s stock worth $52,527,000 after acquiring an additional 154,560 shares during the period. Institutional investors and hedge funds own 70.25% of the company’s stock.

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.