Sixth Street Specialty Lending (NYSE:TSLX) Price Target Raised to $24.00 at Truist Financial

Sixth Street Specialty Lending (NYSE:TSLX) had its price target increased by Truist Financial from $23.00 to $24.00 in a research report sent to investors on Tuesday,Benzinga reports. Truist Financial currently has a buy rating on the financial services provider’s stock.

A number of other equities analysts have also recently 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 report on Tuesday, November 12th. Keefe, Bruyette & Woods lifted their price objective on shares of Sixth Street Specialty Lending from $21.50 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday. JPMorgan Chase & Co. upped their target price on shares of Sixth Street Specialty Lending from $22.50 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday. Wells Fargo & Company lifted 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 research report on Wednesday, January 29th. Finally, LADENBURG THALM/SH SH lowered shares of Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a report on Friday, February 14th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Sixth Street Specialty Lending has a consensus rating of “Moderate Buy” and an average price target of $22.79.

Sixth Street Specialty Lending Trading Down 0.3 %

TSLX opened at $23.06 on Tuesday. Sixth Street Specialty Lending has a 1-year low of $19.50 and a 1-year high of $23.15. The firm has a 50-day moving average price of $21.70 and a two-hundred day moving average price of $21.08. The stock has a market capitalization of $2.16 billion, a PE ratio of 11.36 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 released its earnings results on Thursday, February 13th. The financial services provider reported $0.61 EPS for the quarter, beating the consensus estimate of $0.57 by $0.04. The company had revenue of $123.70 million during the quarter, compared to analysts’ expectations of $120.07 million. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 38.67%. As a group, 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 issued a dividend of $0.07 per share. This represents a dividend yield of 7.06%. This is a positive change from Sixth Street Specialty Lending’s previous dividend of $0.05. The ex-dividend date of this dividend is Friday, February 28th. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is presently 90.64%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Trust Co. of Vermont bought a new stake in shares of Sixth Street Specialty Lending in the fourth quarter worth $39,000. First Horizon Advisors Inc. lifted 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 worth $49,000 after buying an additional 465 shares in the last quarter. Quarry LP lifted its position in Sixth Street Specialty Lending by 378.3% during the 3rd quarter. Quarry LP now owns 4,094 shares of the financial services provider’s stock worth $84,000 after buying an additional 3,238 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Sixth Street Specialty Lending by 13.3% during the 4th quarter. Signaturefd LLC now owns 4,673 shares of the financial services provider’s stock worth $100,000 after buying an additional 550 shares during the last quarter. Finally, Atlas Capital Advisors Inc. bought a new position in shares of Sixth Street Specialty Lending in the 4th quarter valued at about $109,000. 70.25% of the stock is currently owned by institutional investors.

About Sixth Street Specialty Lending

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.