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) shares hit a new 52-week high on Friday . The company traded as high as $23.77 and last traded at $23.74, with a volume of 247960 shares changing hands. The stock had previously closed at $23.50.

Analyst Upgrades and Downgrades

TSLX has been the subject of a number of research analyst reports. B. Riley began coverage on Sixth Street Specialty Lending in a research note on Tuesday, May 13th. They issued a "buy" rating and a $23.00 target price for the company. JPMorgan Chase & Co. reduced their price objective 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 Financial dropped their target price on shares of Sixth Street Specialty Lending from $24.00 to $23.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Finally, Wells Fargo & Company lowered their price target on shares of Sixth Street Specialty Lending from $23.00 to $22.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. One 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 stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $22.81.

Sixth Street Specialty Lending Stock Up 1.0%

The firm's 50-day moving average price is $22.26 and its two-hundred day moving average price is $21.92. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.06 and a current ratio of 3.06. The firm has a market cap of $2.23 billion, a PE ratio of 12.56 and a beta of 0.83.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.02. Sixth Street Specialty Lending had a net margin of 36.59% and a return on equity of 13.60%. The company had revenue of $113.92 billion during the quarter, compared to the consensus estimate of $116.70 million. During the same quarter in the prior year, the firm posted $0.52 earnings per share. As a group, equities research analysts expect that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The business also recently declared a dividend, which was paid on Friday, June 20th. Investors of record on Monday, June 2nd were given a $0.06 dividend. This represents a yield of 9.21%. The ex-dividend date of this dividend was Friday, May 30th. Sixth Street Specialty Lending's dividend payout ratio (DPR) is presently 97.35%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Ameriflex Group Inc. acquired a new position in Sixth Street Specialty Lending during the 4th quarter worth approximately $27,000. AdvisorNet Financial Inc acquired a new stake in shares of Sixth Street Specialty Lending in the first quarter valued at about $40,000. First Horizon Advisors Inc. lifted its stake in shares of Sixth Street Specialty Lending by 25.3% in the fourth quarter. First Horizon Advisors Inc. now owns 2,302 shares of the financial services provider's stock valued at $49,000 after purchasing an additional 465 shares during the period. Rossby Financial LCC purchased a new stake in Sixth Street Specialty Lending during the first quarter worth about $62,000. Finally, Redmont Wealth Advisors LLC acquired a new position in Sixth Street Specialty Lending during the first quarter worth about $97,000. 70.25% of the stock is owned by hedge funds and other institutional investors.

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.

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