Sixth Street Specialty Lending (NYSE:TSLX) Price Target Raised to $19.50

Sixth Street Specialty Lending (NYSE:TSLX) had its price target lifted by Keefe, Bruyette & Woods from $18.50 to $19.50 in a research note published on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

Several other equities analysts also recently commented on the company. Wells Fargo & Company decreased their target price on Sixth Street Specialty Lending from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. JPMorgan Chase & Co. dropped their price target on Sixth Street Specialty Lending from $17.50 to $16.50 and set a “neutral” rating for the company in a report on Thursday, July 2nd. Wall Street Zen upgraded Sixth Street Specialty Lending from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Zacks Research raised Sixth Street Specialty Lending from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 7th. Finally, Citizens Jmp lowered their price objective on Sixth Street Specialty Lending from $25.00 to $24.00 and set a “market outperform” rating on the stock in a research report on Wednesday, April 22nd. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Sixth Street Specialty Lending has a consensus rating of “Moderate Buy” and an average target price of $19.83.

Sixth Street Specialty Lending Stock Performance

Shares of TSLX stock opened at $18.81 on Monday. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 19.80 and a beta of 0.59. The company has a debt-to-equity ratio of 1.24, a quick ratio of 9.83 and a current ratio of 9.83. The company has a 50-day simple moving average of $17.26 and a 200 day simple moving average of $18.17. Sixth Street Specialty Lending has a 52 week low of $16.04 and a 52 week high of $24.79.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. The business had revenue of $97.84 million for the quarter, compared to analyst estimates of $95.28 million. Sixth Street Specialty Lending had a net margin of 21.79% and a return on equity of 11.33%. During the same quarter in the prior year, the business earned $0.56 EPS. On average, sell-side analysts predict that Sixth Street Specialty Lending will post 1.73 earnings per share for the current year.

Sixth Street Specialty Lending Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.68 dividend on an annualized basis and a yield of 8.9%. Sixth Street Specialty Lending’s dividend payout ratio is currently 176.84%.

Hedge Funds Weigh In On Sixth Street Specialty Lending

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its holdings in shares of Sixth Street Specialty Lending by 8.0% during the 1st quarter. Royal Bank of Canada now owns 124,241 shares of the financial services provider’s stock worth $2,780,000 after purchasing an additional 9,230 shares in the last quarter. Integrated Wealth Concepts LLC raised its stake in Sixth Street Specialty Lending by 38.5% in the first quarter. Integrated Wealth Concepts LLC now owns 16,539 shares of the financial services provider’s stock valued at $370,000 after purchasing an additional 4,597 shares in the last quarter. Invesco Ltd. lifted its position in Sixth Street Specialty Lending by 8.0% during the second quarter. Invesco Ltd. now owns 30,628 shares of the financial services provider’s stock worth $729,000 after purchasing an additional 2,263 shares during the period. Marshall Wace LLP lifted its position in Sixth Street Specialty Lending by 186.6% during the second quarter. Marshall Wace LLP now owns 75,811 shares of the financial services provider’s stock worth $1,805,000 after purchasing an additional 49,362 shares during the period. Finally, Glenview Trust co bought a new stake in Sixth Street Specialty Lending during the second quarter worth about $231,000. 70.25% of the stock is owned by institutional investors and hedge funds.

Sixth Street Specialty Lending Company Profile

Sixth Street Specialty Lending Inc (NYSE: TSLX) is a closed-end, externally managed business development company that provides flexible debt financing solutions to middle-market companies. The fund primarily targets senior secured loans, unitranche facilities, mezzanine debt, second-lien financings and equity co-investment opportunities. By structuring tailored capital solutions, Sixth Street Specialty Lending seeks to support growth initiatives, recapitalizations and refinancings across a diverse set of industries, including technology, healthcare and business services.

As an affiliate of Sixth Street Partners, a global alternative investment firm, the company leverages the broader platform’s credit research, operational expertise and industry relationships.