Sixth Street Specialty Lending (NYSE:TSLX) Reaches New 52-Week High – Here’s Why

Sixth Street Specialty Lending, Inc. (NYSE:TSLX)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $23.15 and last traded at $23.05, with a volume of 5403 shares. The stock had previously closed at $23.12.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Keefe, Bruyette & Woods lifted their target price on Sixth Street Specialty Lending from $21.50 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday. Royal Bank of Canada reiterated 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. LADENBURG THALM/SH SH downgraded Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a research report on Friday, February 14th. JPMorgan Chase & Co. lifted their target price on Sixth Street Specialty Lending from $22.50 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Truist Financial lifted their target price on Sixth Street Specialty Lending from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.79.

Sixth Street Specialty Lending Stock Up 1.8 %

The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 1.18. The company has a fifty day moving average price of $21.70 and a 200-day moving average price of $21.08. The stock has a market capitalization of $2.20 billion, a P/E ratio of 11.57 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its earnings results on Thursday, February 13th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.04. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 38.67%. The firm had revenue of $123.70 million for the quarter, compared to analysts’ expectations of $120.07 million. As a group, research analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The firm also recently announced a dividend, which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 3rd will be given a dividend of $0.07 per share. This represents a dividend yield of 7.06%. 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. Sixth Street Specialty Lending’s payout ratio is 90.64%.

Institutional Trading of Sixth Street Specialty Lending

A number of large investors have recently modified their holdings of the company. Burgundy Asset Management Ltd. boosted its holdings in shares of Sixth Street Specialty Lending by 1.7% in the fourth quarter. Burgundy Asset Management Ltd. now owns 2,192,486 shares of the financial services provider’s stock valued at $46,700,000 after purchasing an additional 37,442 shares during the period. Principal Street Partners LLC purchased a new stake in Sixth Street Specialty Lending during the fourth quarter worth $306,000. Tidal Investments LLC increased its position in shares of Sixth Street Specialty Lending by 2.3% during the fourth quarter. Tidal Investments LLC now owns 52,051 shares of the financial services provider’s stock worth $1,109,000 after purchasing an additional 1,168 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Sixth Street Specialty Lending by 16.0% during the fourth quarter. ProShare Advisors LLC now owns 18,086 shares of the financial services provider’s stock worth $385,000 after purchasing an additional 2,489 shares in the last quarter. Finally, Progeny 3 Inc. increased its position in shares of Sixth Street Specialty Lending by 6.1% during the fourth quarter. Progeny 3 Inc. now owns 2,390,680 shares of the financial services provider’s stock worth $50,921,000 after purchasing an additional 137,906 shares in the last quarter. Hedge funds and other institutional investors own 70.25% of the company’s stock.

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.