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

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

Wall Street Analyst Weigh In

Several brokerages recently commented on TSLX. JPMorgan Chase & Co. reduced 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 report on Thursday, April 24th. B. Riley started coverage on Sixth Street Specialty Lending in a report on Tuesday, May 13th. They issued a "buy" rating and a $23.00 price objective for the company. Raymond James Financial lowered their target price 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, Wells Fargo & Company dropped 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 equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $22.81.

Sixth Street Specialty Lending Price Performance

The company has a debt-to-equity ratio of 1.15, a current ratio of 3.06 and a quick ratio of 3.06. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of 12.88 and a beta of 0.83. The business's 50-day simple moving average is $23.01 and its two-hundred day simple moving average is $22.17.

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 earnings per share 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 firm had revenue of $113.92 billion for the quarter, compared to analyst estimates of $116.70 million. During the same quarter last year, the business posted $0.52 earnings per share. Research analysts expect that Sixth Street Specialty Lending, Inc. will post 2.19 earnings per share for the current year.

Sixth Street Specialty Lending Cuts Dividend

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

Hedge Funds Weigh In On Sixth Street Specialty Lending

Several hedge funds and other institutional investors have recently bought and sold shares of TSLX. Ameriflex Group Inc. acquired a new position in Sixth Street Specialty Lending in the fourth quarter valued at $27,000. AdvisorNet Financial Inc acquired a new position in shares of Sixth Street Specialty Lending during the first quarter valued at about $40,000. Rossby Financial LCC acquired a new position in shares of Sixth Street Specialty Lending during the first quarter valued at about $62,000. Redmont Wealth Advisors LLC acquired a new position in shares of Sixth Street Specialty Lending during the first quarter valued at about $97,000. Finally, Signaturefd LLC raised its holdings in shares of Sixth Street Specialty Lending by 13.3% during the fourth 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 period. Institutional investors and hedge funds 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.