Sixth Street Specialty Lending (NYSE:TSLX) Hits New 12-Month High – Still a Buy?

Sixth Street Specialty Lending, Inc. (NYSE:TSLX)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $23.75 and last traded at $23.63, with a volume of 215054 shares. The stock had previously closed at $23.38.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Truist Financial raised their target price on shares of Sixth Street Specialty Lending from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. B. Riley started coverage on Sixth Street Specialty Lending in a report on Tuesday, May 13th. They set a “buy” rating and a $23.00 target price on the stock. JPMorgan Chase & Co. decreased their price target on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. LADENBURG THALM/SH SH cut shares of Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a research report on Friday, February 14th. Finally, Royal Bank of Canada raised their target price on shares of Sixth Street Specialty Lending from $23.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $22.81.

Sixth Street Specialty Lending Trading Up 0.5%

The company has a market cap of $2.21 billion, a PE ratio of 11.59 and a beta of 0.83. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 1.18. The firm has a fifty day moving average of $21.44 and a two-hundred day moving average of $21.75.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.02. Sixth Street Specialty Lending had a net margin of 38.67% and a return on equity of 13.47%. The business had revenue of $113.92 billion during the quarter, compared to the consensus estimate of $116.70 million. During the same period in the previous year, the firm posted $0.52 earnings per share. As a group, sell-side analysts predict that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current year.

Sixth Street Specialty Lending Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, June 20th. Investors of record on Monday, June 2nd will be paid a $0.06 dividend. This represents a yield of 9.21%. The ex-dividend date is Friday, May 30th. Sixth Street Specialty Lending’s payout ratio is 97.35%.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Strs Ohio purchased a new position in Sixth Street Specialty Lending during the first quarter valued at $79,698,000. Advisors Capital Management LLC raised its position in shares of Sixth Street Specialty Lending by 1.4% in the 1st quarter. Advisors Capital Management LLC now owns 704,608 shares of the financial services provider’s stock worth $15,769,000 after purchasing an additional 9,992 shares during the last quarter. SCS Capital Management LLC bought a new position in Sixth Street Specialty Lending in the 1st quarter worth about $13,545,000. Integrated Wealth Concepts LLC grew its position in Sixth Street Specialty Lending by 38.5% during the 1st 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 during the last quarter. Finally, Advisors Asset Management Inc. increased its stake in Sixth Street Specialty Lending by 4.0% during the 1st quarter. Advisors Asset Management Inc. now owns 177,290 shares of the financial services provider’s stock valued at $3,968,000 after purchasing an additional 6,809 shares in the last quarter. 70.25% of the stock is owned by hedge funds and other 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.