Sixth Street Specialty Lending (NYSE:TSLX) Price Target Raised to $24.00

Sixth Street Specialty Lending (NYSE:TSLX) had its price objective increased by Truist Financial from $23.00 to $24.00 in a report released on Tuesday,Benzinga reports. Truist Financial currently has a buy rating on the financial services provider’s stock.

TSLX has been the subject of several other research reports. Keefe, Bruyette & Woods boosted their price objective on Sixth Street Specialty Lending from $21.50 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday. Wells Fargo & Company increased their price objective 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. 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 reiterated an “outperform” rating and set a $23.00 target price on shares of Sixth Street Specialty Lending in a research note on Tuesday, November 12th. Finally, JPMorgan Chase & Co. raised their price target on shares of Sixth Street Specialty Lending from $22.50 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.79.

Sixth Street Specialty Lending Trading Down 0.3 %

Shares of TSLX stock opened at $23.06 on Tuesday. Sixth Street Specialty Lending has a 12 month low of $19.50 and a 12 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 has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 1.18. The business’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 posted its earnings results on Thursday, February 13th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The business 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%. Equities analysts predict that Sixth Street Specialty Lending will post 2.2 EPS for the current year.

Sixth Street Specialty Lending Increases Dividend

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

Institutional Investors Weigh In On Sixth Street Specialty Lending

Institutional investors and hedge funds have recently bought and sold shares of the business. First Horizon Advisors Inc. lifted its holdings in shares of Sixth Street Specialty Lending by 25.3% during the 4th quarter. First Horizon Advisors Inc. now owns 2,302 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 465 shares during the period. Signaturefd LLC raised its position in Sixth Street Specialty Lending by 13.3% in the fourth quarter. Signaturefd LLC now owns 4,673 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 550 shares in the last quarter. Cornerstone Wealth Management LLC lifted its stake in Sixth Street Specialty Lending by 1.4% during 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. Dearborn Partners LLC boosted its holdings in Sixth Street Specialty Lending by 1.3% during the fourth quarter. Dearborn Partners LLC now owns 58,768 shares of the financial services provider’s stock valued at $1,252,000 after purchasing an additional 763 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of 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 valued at $273,000 after purchasing an additional 909 shares during the period. Institutional investors own 70.25% of the company’s stock.

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.