JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Sixth Street Specialty Lending (NYSE:TSLX) Stock

Sixth Street Specialty Lending (NYSE:TSLX) had its target price lifted by JPMorgan Chase & Co. from $22.50 to $23.00 in a research note published on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the financial services provider’s stock.

Several other research analysts have also recently issued reports on TSLX. Wells Fargo & Company raised their price objective on Sixth Street Specialty Lending from $21.00 to $23.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. LADENBURG THALM/SH SH lowered shares of Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a research report on Friday, February 14th. Royal Bank of Canada restated an “outperform” rating and set a $23.00 price objective on shares of Sixth Street Specialty Lending in a research note on Tuesday, November 12th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Sixth Street Specialty Lending from $21.50 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.79.

Sixth Street Specialty Lending Stock Down 0.3 %

NYSE:TSLX opened at $23.06 on Tuesday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 1.18. Sixth Street Specialty Lending has a twelve month low of $19.50 and a twelve month high of $23.15. The company has a market cap of $2.16 billion, a PE ratio of 11.36 and a beta of 1.06. The company’s 50 day moving average is $21.70 and its two-hundred day moving average is $21.08.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The firm had revenue of $123.70 million for the quarter, compared to analyst estimates of $120.07 million. Sixth Street Specialty Lending had a net margin of 38.67% and a return on equity of 13.47%. Analysts anticipate that Sixth Street Specialty Lending will post 2.2 EPS for the current year.

Sixth Street Specialty Lending Increases Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.07 per share. This is a boost from Sixth Street Specialty Lending’s previous dividend of $0.05. The ex-dividend date is Friday, February 28th. This represents a dividend yield of 7.06%. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is presently 90.64%.

Hedge Funds Weigh In On Sixth Street Specialty Lending

Several large investors have recently made changes to their positions in the company. First Horizon Advisors Inc. grew its position in Sixth Street Specialty Lending by 25.3% during the fourth quarter. First Horizon Advisors Inc. now owns 2,302 shares of the financial services provider’s stock valued at $49,000 after buying an additional 465 shares during the period. Signaturefd LLC boosted its stake in shares of Sixth Street Specialty Lending by 13.3% during the 4th quarter. Signaturefd LLC now owns 4,673 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 550 shares in the last quarter. Cornerstone Wealth Management LLC grew its position in shares of Sixth Street Specialty Lending by 1.4% during the 4th quarter. Cornerstone Wealth Management LLC now owns 46,184 shares of the financial services provider’s stock valued at $984,000 after acquiring an additional 621 shares during the period. Dearborn Partners LLC raised 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 during the period. Finally, Bank of New York Mellon Corp boosted its position in Sixth Street Specialty Lending by 7.6% during the fourth 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. 70.25% of the stock is currently owned by institutional investors and hedge funds.

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.