Sixth Street Specialty Lending (NYSE:TSLX) Reaches New 1-Year High - Here's Why

Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as $24.02 and last traded at $24.00, with a volume of 803534 shares traded. The stock had previously closed at $23.79.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Wells Fargo & Company reduced their price objective on Sixth Street Specialty Lending from $23.00 to $22.00 and set an "overweight" rating for the company in a report on Monday, April 28th. B. Riley started 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 for the company. Raymond James Financial cut their price target on Sixth Street Specialty Lending from $24.00 to $23.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. cut 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 note on Thursday, April 24th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Sixth Street Specialty Lending presently has a consensus rating of "Buy" and a consensus target price of $22.81.

Sixth Street Specialty Lending Trading Up 1.7%

The stock has a 50 day simple moving average of $22.68 and a 200-day simple moving average of $22.05. The firm has a market capitalization of $2.29 billion, a P/E ratio of 12.90 and a beta of 0.83. The company has a current ratio of 3.06, a quick ratio of 3.06 and a debt-to-equity ratio of 1.15.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.56 by $0.02. The company had revenue of $113.92 billion during 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 period in the previous year, the company posted $0.52 EPS. On average, equities research analysts forecast 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 disclosed a dividend, which was paid on Friday, June 20th. Investors of record on Monday, June 2nd were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a dividend yield of 9.21%. Sixth Street Specialty Lending's dividend payout ratio (DPR) is presently 97.35%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TSLX. Bank of New York Mellon Corp lifted its holdings in Sixth Street Specialty Lending by 7.6% in the 4th quarter. Bank of New York Mellon Corp now owns 12,811 shares of the financial services provider's stock worth $273,000 after purchasing an additional 909 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Sixth Street Specialty Lending in the 4th quarter worth approximately $17,488,000. Marble Harbor Investment Counsel LLC lifted its holdings in Sixth Street Specialty Lending by 7.2% in the 4th quarter. Marble Harbor Investment Counsel LLC now owns 21,645 shares of the financial services provider's stock worth $461,000 after purchasing an additional 1,445 shares in the last quarter. Dearborn Partners LLC lifted its holdings in Sixth Street Specialty Lending by 1.3% in the 4th quarter. Dearborn Partners LLC now owns 58,768 shares of the financial services provider's stock worth $1,252,000 after purchasing an additional 763 shares in the last quarter. Finally, Truvestments Capital LLC lifted its holdings in Sixth Street Specialty Lending by 7.9% in the 4th quarter. Truvestments Capital LLC now owns 127,065 shares of the financial services provider's stock worth $2,706,000 after purchasing an additional 9,274 shares in the last quarter. 70.25% of the stock is currently owned by 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.