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

Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report) hit a new 52-week high on Thursday . The stock traded as high as $23.15 and last traded at $23.05, with a volume of 5403 shares trading hands. The stock had previously closed at $23.12.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TSLX shares. JPMorgan Chase & Co. lifted their price target on Sixth Street Specialty Lending from $22.50 to $23.00 and gave the company an "overweight" rating in a research note on Tuesday. Truist Financial lifted their target price on Sixth Street Specialty Lending from $23.00 to $24.00 and gave the company a "buy" rating in a research report on Tuesday. Wells Fargo & Company increased their price target on Sixth Street Specialty Lending from $21.00 to $23.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. 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 upped their target price 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 research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $22.79.

Sixth Street Specialty Lending Stock Up 1.8 %

The stock has a 50-day moving average of $21.70 and a 200 day moving average of $21.08. The company has a market capitalization of $2.20 billion, a PE ratio of 11.57 and a beta of 1.06. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 1.18.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last announced its earnings results on Thursday, February 13th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.04. The firm had revenue of $123.70 million during the quarter, compared to analyst estimates of $120.07 million. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 38.67%. Sell-side analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current year.

Sixth Street Specialty Lending Increases Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 3rd will be given a $0.07 dividend. This is a positive change from Sixth Street Specialty Lending's previous dividend of $0.05. The ex-dividend date of this dividend is Friday, February 28th. This represents a yield of 7.06%. Sixth Street Specialty Lending's payout ratio is currently 90.64%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TSLX. Raymond James Financial Inc. purchased a new position in Sixth Street Specialty Lending in the fourth quarter valued at approximately $17,488,000. Columbus Macro LLC bought a new stake in shares of Sixth Street Specialty Lending in the fourth quarter valued at $7,669,000. Progeny 3 Inc. lifted its position in shares of Sixth Street Specialty Lending by 10.6% during the 3rd quarter. Progeny 3 Inc. now owns 2,252,774 shares of the financial services provider's stock valued at $46,249,000 after buying an additional 215,996 shares during the last quarter. Parkwood LLC bought a new position in shares of Sixth Street Specialty Lending during the 4th quarter worth $3,937,000. Finally, JPMorgan Chase & Co. increased its holdings in Sixth Street Specialty Lending by 16.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,175,388 shares of the financial services provider's stock worth $24,131,000 after acquiring an additional 162,810 shares during the last quarter. 70.25% of the stock is 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.