Sixth Street Specialty Lending (NYSE:TSLX) Reaches New 1-Year High - Should You Buy?

Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $24.62 and last traded at $24.46, with a volume of 451549 shares traded. The stock had previously closed at $24.38.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on TSLX shares. Wells Fargo & Company dropped their target price on shares of Sixth Street Specialty Lending from $23.00 to $22.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. 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 research report on Friday, May 2nd. B. Riley started coverage on shares of Sixth Street Specialty Lending in a research report on Tuesday, May 13th. They set a "buy" rating and a $23.00 target price for the company. Finally, JPMorgan Chase & Co. dropped their target price on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an "overweight" rating for the company in a research report on Thursday, April 24th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $22.81.

Sixth Street Specialty Lending Trading Down 0.3%

The company has a market cap of $2.35 billion, a PE ratio of 13.24 and a beta of 0.83. The stock's 50 day moving average is $23.24 and its 200-day moving average is $22.22. The company has a quick ratio of 3.06, a current ratio of 3.06 and a debt-to-equity ratio of 1.15.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $116.70 million. During the same quarter in the prior year, the firm earned $0.52 earnings per share. As a group, sell-side analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current year.

Sixth Street Specialty Lending Cuts Dividend

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

Institutional Investors Weigh In On Sixth Street Specialty Lending

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ameriflex Group Inc. purchased a new stake in shares of Sixth Street Specialty Lending in the fourth quarter valued at $27,000. AdvisorNet Financial Inc purchased a new stake in shares of Sixth Street Specialty Lending in the first quarter valued at $40,000. Rossby Financial LCC purchased a new stake in shares of Sixth Street Specialty Lending in the first quarter valued at $62,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Sixth Street Specialty Lending in the first quarter valued at $97,000. Finally, Signaturefd LLC raised its stake in shares of Sixth Street Specialty Lending by 13.3% in the fourth quarter. Signaturefd LLC now owns 4,673 shares of the financial services provider's stock valued at $100,000 after acquiring an additional 550 shares during the period. 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.