Sixth Street Specialty Lending (NYSE:TSLX) Reaches New 1-Year High - Here's What Happened

Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report)'s stock price reached a new 52-week high during trading on Monday . The company traded as high as $23.75 and last traded at $23.63, with a volume of 215054 shares traded. The stock had previously closed at $23.38.

Analyst Upgrades and Downgrades

TSLX has been the subject of a number of research reports. Royal Bank of Canada lifted their price target on Sixth Street Specialty Lending from $23.00 to $25.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. decreased their price target on Sixth Street Specialty Lending from $23.00 to $21.50 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Raymond James decreased their price target on Sixth Street Specialty Lending from $24.00 to $23.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Keefe, Bruyette & Woods lifted their price target on Sixth Street Specialty Lending from $21.50 to $23.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. Finally, LADENBURG THALM/SH SH downgraded Sixth Street Specialty Lending from a "buy" rating to a "neutral" rating in a research note on Friday, February 14th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $22.81.

Sixth Street Specialty Lending Stock Performance

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 stock has a 50 day simple moving average of $21.56 and a 200 day simple moving average of $21.79. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of 11.57 and a beta of 0.83.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last issued its earnings results on Wednesday, April 30th. The financial services provider reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.02. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 38.67%. The company had revenue of $113.92 billion during the quarter, compared to the consensus estimate of $116.70 million. During the same period in the previous year, the firm posted $0.52 earnings per share. As a group, analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.19 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The business also recently announced a dividend, which will be paid on Friday, June 20th. Shareholders of record on Monday, June 2nd will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a yield of 9.21%. Sixth Street Specialty Lending's payout ratio is currently 97.35%.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets bought a new stake in shares of Sixth Street Specialty Lending during the fourth quarter valued at approximately $1,035,000. Ameriprise Financial Inc. raised its holdings in shares of Sixth Street Specialty Lending by 6.4% during the fourth quarter. Ameriprise Financial Inc. now owns 193,312 shares of the financial services provider's stock valued at $4,118,000 after buying an additional 11,574 shares during the last quarter. Magnus Financial Group LLC bought a new stake in shares of Sixth Street Specialty Lending during the first quarter valued at approximately $322,000. Wells Fargo & Company MN raised its holdings in shares of Sixth Street Specialty Lending by 2.9% during the fourth quarter. Wells Fargo & Company MN now owns 1,183,141 shares of the financial services provider's stock valued at $25,201,000 after buying an additional 33,026 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Sixth Street Specialty Lending during the fourth quarter valued at approximately $17,488,000. 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.