Sixth Street Specialty Lending (NYSE:TSLX) Price Target Raised to $23.00

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

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

Sixth Street Specialty Lending Price Performance

Shares of Sixth Street Specialty Lending stock opened at $23.06 on Tuesday. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 11.36 and a beta of 1.06. 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 stock has a 50 day moving average price of $21.70 and a 200-day moving average price of $21.08. Sixth Street Specialty Lending has a one year low of $19.50 and a one year high of $23.15.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The business had revenue of $123.70 million for the quarter, compared to analysts’ expectations of $120.07 million. Sixth Street Specialty Lending had a net margin of 38.67% and a return on equity of 13.47%. Equities analysts expect that Sixth Street Specialty Lending will post 2.2 EPS for the current year.

Sixth Street Specialty Lending Increases Dividend

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Trust Co. of Vermont purchased a new position in Sixth Street Specialty Lending during the fourth quarter valued at approximately $39,000. First Horizon Advisors Inc. boosted its position in Sixth Street Specialty Lending by 25.3% during the 4th quarter. First Horizon Advisors Inc. now owns 2,302 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 465 shares in the last quarter. Quarry LP increased its holdings in shares of Sixth Street Specialty Lending by 378.3% in the 3rd quarter. Quarry LP now owns 4,094 shares of the financial services provider’s stock valued at $84,000 after acquiring an additional 3,238 shares during the period. Signaturefd LLC increased its holdings in shares of Sixth Street Specialty Lending by 13.3% in the 4th quarter. Signaturefd LLC now owns 4,673 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 550 shares during the period. Finally, Atlas Capital Advisors Inc. bought a new position in shares of Sixth Street Specialty Lending in the 4th quarter worth $109,000. Hedge funds and other institutional investors 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.