Sixth Street Specialty Lending (NYSE:TSLX) Price Target Raised to $23.00

Sixth Street Specialty Lending (NYSE:TSLX) had its target price increased by Wells Fargo & Company from $21.00 to $23.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other analysts have also recently weighed in on the company. Keefe, Bruyette & Woods reduced their price target on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating on the stock in a report on Thursday, November 7th. LADENBURG THALM/SH SH upgraded shares of Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price target on the stock in a report on Wednesday, November 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 target price on shares of Sixth Street Specialty Lending in a research report on Tuesday, November 12th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $22.33.

Sixth Street Specialty Lending Price Performance

TSLX stock opened at $22.40 on Wednesday. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 10.87 and a beta of 1.05. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.50 and a quick ratio of 2.50. The company has a 50 day simple moving average of $21.37 and a 200 day simple moving average of $20.94. Sixth Street Specialty Lending has a 1 year low of $19.50 and a 1 year high of $22.42.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. The company had revenue of $119.22 million during the quarter, compared to the consensus estimate of $119.85 million. Sixth Street Specialty Lending had a net margin of 39.05% and a return on equity of 13.55%. During the same period in the prior year, the business earned $0.60 earnings per share. Research analysts anticipate that Sixth Street Specialty Lending will post 2.31 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The firm also recently declared a dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 2nd were paid a $0.05 dividend. This represents a yield of 7.59%. The ex-dividend date of this dividend was Friday, November 29th. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is presently 89.32%.

Institutional Trading of Sixth Street Specialty Lending

Several hedge funds have recently modified their holdings of the stock. Cornerstone Wealth Management LLC grew its holdings in Sixth Street Specialty Lending by 1.4% in the fourth quarter. Cornerstone Wealth Management LLC now owns 46,184 shares of the financial services provider’s stock worth $984,000 after purchasing an additional 621 shares during the period. Platform Technology Partners increased its position in Sixth Street Specialty Lending by 3.5% in the 4th quarter. Platform Technology Partners now owns 28,925 shares of the financial services provider’s stock valued at $616,000 after buying an additional 980 shares in the last quarter. Confluence Investment Management LLC increased its position in Sixth Street Specialty Lending by 0.5% in the 4th quarter. Confluence Investment Management LLC now owns 251,182 shares of the financial services provider’s stock valued at $5,350,000 after buying an additional 1,273 shares in the last quarter. Barnett & Company Inc. boosted its holdings in Sixth Street Specialty Lending by 4.7% in the third quarter. Barnett & Company Inc. now owns 29,050 shares of the financial services provider’s stock worth $596,000 after acquiring an additional 1,300 shares in the last quarter. Finally, Sanctuary Advisors LLC increased its holdings in shares of Sixth Street Specialty Lending by 6.3% during the third quarter. Sanctuary Advisors LLC now owns 24,168 shares of the financial services provider’s stock valued at $502,000 after acquiring an additional 1,441 shares in the last quarter. Institutional investors own 70.25% of the company’s stock.

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.