Sixth Street Specialty Lending (NYSE:TSLX) Hits New 1-Year High - Still a Buy?

Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report)'s stock price 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 changing hands. The stock had previously closed at $24.38.

Analysts Set New Price Targets

TSLX has been the topic of a number of recent analyst reports. Raymond James Financial decreased their price objective on Sixth Street Specialty Lending from $24.00 to $23.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Wells Fargo & Company decreased their price objective on Sixth Street Specialty Lending from $23.00 to $22.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. JPMorgan Chase & Co. decreased their price objective on Sixth Street Specialty Lending from $23.00 to $21.50 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Finally, B. Riley began coverage on Sixth Street Specialty Lending in a research note on Tuesday, May 13th. They set a "buy" rating and a $23.00 price target on the stock. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $22.81.

Sixth Street Specialty Lending Stock Down 1.3%

The firm has a market cap of $2.33 billion, a price-to-earnings ratio of 13.11 and a beta of 0.83. The firm's 50 day moving average price is $23.38 and its two-hundred day moving average price is $22.27. The company has a debt-to-equity ratio of 1.15, a current ratio of 3.06 and a quick ratio of 3.06.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $113.92 billion during the quarter, compared to the consensus estimate of $116.70 million. Sixth Street Specialty Lending had a net margin of 36.59% and a return on equity of 13.60%. During the same quarter last year, the firm earned $0.52 earnings per share. As a group, sell-side analysts forecast 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 was paid on Friday, June 20th. Shareholders of record on Monday, June 2nd were issued a $0.06 dividend. The ex-dividend date was Friday, May 30th. This represents a yield of 9.21%. Sixth Street Specialty Lending's dividend payout ratio (DPR) is presently 97.35%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Ameriflex Group Inc. purchased a new position in shares of Sixth Street Specialty Lending during the 4th quarter worth approximately $27,000. AdvisorNet Financial Inc purchased a new stake in Sixth Street Specialty Lending in the 1st quarter worth approximately $40,000. Rossby Financial LCC purchased a new stake in Sixth Street Specialty Lending in the 1st quarter worth approximately $62,000. Redmont Wealth Advisors LLC purchased a new stake in Sixth Street Specialty Lending in the 1st quarter worth approximately $97,000. Finally, Signaturefd LLC boosted its holdings in shares of Sixth Street Specialty Lending by 13.3% in the 4th quarter. Signaturefd LLC now owns 4,673 shares of the financial services provider's stock valued at $100,000 after purchasing an additional 550 shares during the last quarter. 70.25% of the stock is owned by hedge funds and other 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.