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

Sixth Street Specialty Lending (NYSE:TSLX) had its price target boosted by Keefe, Bruyette & Woods from $21.50 to $23.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

TSLX has been the subject of a number of other reports. 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. Wells Fargo & Company upped their price target on Sixth Street Specialty Lending from $21.00 to $23.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 price objective on shares of Sixth Street Specialty Lending in a report on Tuesday, November 12th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Sixth Street Specialty Lending presently has a consensus rating of “Moderate Buy” and an average price target of $22.79.

Sixth Street Specialty Lending Stock Down 0.3 %

TSLX opened at $23.06 on Tuesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.90 and a quick ratio of 1.90. Sixth Street Specialty Lending has a 12 month low of $19.50 and a 12 month high of $23.15. The stock has a market capitalization of $2.16 billion, a P/E ratio of 11.36 and a beta of 1.06. The business has a 50 day simple moving average of $21.70 and a 200-day simple moving average of $21.08.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its earnings results on Thursday, February 13th. The financial services provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.57 by $0.04. The company had revenue of $123.70 million for the quarter, compared to analyst estimates of $120.07 million. Sixth Street Specialty Lending had a net margin of 38.67% and a return on equity of 13.47%. On average, equities analysts anticipate that Sixth Street Specialty Lending will post 2.2 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

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

Institutional Investors Weigh In On Sixth Street Specialty Lending

A number of large investors have recently bought and sold shares of TSLX. Private Advisor Group LLC lifted its position in shares of 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 acquiring an additional 5,398 shares in the last quarter. Legacy Capital Wealth Partners LLC raised its stake in Sixth Street Specialty Lending by 98.6% in 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 last quarter. JPMorgan Chase & Co. lifted its holdings in 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 valued at $24,131,000 after purchasing an additional 162,810 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Sixth Street Specialty Lending by 6.6% during the 3rd quarter. Van ECK Associates Corp now owns 2,289,435 shares of the financial services provider’s stock worth $47,117,000 after purchasing an additional 141,463 shares during the last quarter. Finally, Gilman Hill Asset Management LLC acquired a new stake in shares of Sixth Street Specialty Lending during the 4th quarter worth about $1,974,000. 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.