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

Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $24.46 and last traded at $24.44, with a volume of 62091 shares changing hands. The stock had previously closed at $24.17.

Analyst Ratings Changes

TSLX has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their target price 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. Wells Fargo & Company reduced their price objective 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 decreased their price objective on shares of 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. Finally, B. Riley started coverage on shares of Sixth Street Specialty Lending in a research note on Tuesday, May 13th. They set a "buy" rating and a $23.00 target price for the company. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $22.81.

Sixth Street Specialty Lending Stock Performance

The company has a market cap of $2.28 billion, a PE ratio of 12.86 and a beta of 0.83. 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's 50 day moving average is $22.87 and its 200-day moving average is $22.11.

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, topping analysts' consensus estimates of $0.56 by $0.02. The firm had revenue of $113.92 billion for the quarter, compared to the consensus estimate of $116.70 million. Sixth Street Specialty Lending had a return on equity of 13.60% and a net margin of 36.59%. During the same quarter last year, the business posted $0.52 earnings per share. On average, research 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 company also recently disclosed a dividend, which was paid on Friday, June 20th. Investors of record on Monday, June 2nd were issued a $0.06 dividend. This represents a dividend yield of 9.21%. The ex-dividend date was Friday, May 30th. Sixth Street Specialty Lending's dividend payout ratio is currently 97.35%.

Hedge Funds Weigh In On Sixth Street Specialty Lending

A number of institutional investors have recently bought and sold shares of the company. Gilman Hill Asset Management LLC lifted its stake in shares of Sixth Street Specialty Lending by 4.1% in the 2nd quarter. Gilman Hill Asset Management LLC now owns 465,241 shares of the financial services provider's stock valued at $11,077,000 after purchasing an additional 18,265 shares during the last quarter. Mirador Capital Partners LP raised its holdings in Sixth Street Specialty Lending by 4.4% in the 2nd quarter. Mirador Capital Partners LP now owns 21,920 shares of the financial services provider's stock valued at $522,000 after buying an additional 919 shares during the period. Confluence Investment Management LLC lifted its position in Sixth Street Specialty Lending by 14.6% in the second quarter. Confluence Investment Management LLC now owns 288,066 shares of the financial services provider's stock valued at $6,859,000 after buying an additional 36,650 shares during the last quarter. Strs Ohio purchased a new position in Sixth Street Specialty Lending during the first quarter worth about $79,698,000. Finally, Advisors Capital Management LLC increased its position in shares of Sixth Street Specialty Lending by 1.4% during the first quarter. Advisors Capital Management LLC now owns 704,608 shares of the financial services provider's stock valued at $15,769,000 after acquiring an additional 9,992 shares during the last quarter. 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.