Sixth Street Specialty Lending (NYSE:TSLX) Reaches New 52-Week High Following Analyst Upgrade

Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) hit a new 52-week high on Wednesday after Wells Fargo & Company raised their price target on the stock from $21.00 to $23.00. Wells Fargo & Company currently has an overweight rating on the stock. Sixth Street Specialty Lending traded as high as $22.26 and last traded at $22.22, with a volume of 44714 shares changing hands. The stock had previously closed at $22.11.

TSLX has been the topic of a number of other reports. LADENBURG THALM/SH SH raised Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Wednesday, November 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 price target on shares of Sixth Street Specialty Lending in a report on Tuesday, November 12th. Finally, Keefe, Bruyette & Woods decreased their target price on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Sixth Street Specialty Lending presently has a consensus rating of “Buy” and an average target price of $22.33.

Institutional Trading of Sixth Street Specialty Lending

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Trust Co. of Vermont acquired a new position in Sixth Street Specialty Lending during the fourth quarter worth about $39,000. Quarry LP increased its position in Sixth Street Specialty Lending by 378.3% during the third quarter. Quarry LP now owns 4,094 shares of the financial services provider’s stock worth $84,000 after purchasing an additional 3,238 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Sixth Street Specialty Lending during the third quarter worth about $86,000. EMC Capital Management increased its position in Sixth Street Specialty Lending by 92.5% during the fourth quarter. EMC Capital Management now owns 6,747 shares of the financial services provider’s stock worth $144,000 after purchasing an additional 3,242 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in Sixth Street Specialty Lending during the third quarter worth about $196,000. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Sixth Street Specialty Lending Trading Down 0.7 %

The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 10.67 and a beta of 1.05. The company’s 50-day moving average is $21.27 and its 200-day moving average is $20.92. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 1.17.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. Sixth Street Specialty Lending had a net margin of 39.05% and a return on equity of 13.55%. The firm had revenue of $119.22 million during the quarter, compared to analysts’ expectations of $119.85 million. During the same period last year, the business earned $0.60 earnings per share. Research analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.31 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently declared a dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 2nd were given a dividend of $0.05 per share. The ex-dividend date was Friday, November 29th. This represents a dividend yield of 7.59%. Sixth Street Specialty Lending’s dividend payout ratio is currently 89.32%.

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.