Sixth Street Specialty Lending (NYSE:TSLX) Given New $23.00 Price Target at Keefe, Bruyette & Woods

Sixth Street Specialty Lending (NYSE:TSLX) had its price target upped by Keefe, Bruyette & Woods from $21.50 to $23.00 in a research note released on Tuesday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider’s stock.

Other analysts also recently issued research reports about the stock. LADENBURG THALM/SH SH downgraded shares of Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a research report on Friday, February 14th. Wells Fargo & Company boosted their price objective on shares of 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. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $23.00 target price on shares of Sixth Street Specialty Lending in a research note on Tuesday, November 12th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, 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 %

Shares of NYSE TSLX opened at $23.06 on Tuesday. The stock has a market capitalization 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 firm has a fifty day moving average of $21.70 and a 200-day moving average of $21.08. Sixth Street Specialty Lending has a 52-week low of $19.50 and a 52-week high of $23.15.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly 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 firm had revenue of $123.70 million during the quarter, compared to the consensus estimate of $120.07 million. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 38.67%. On average, 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. The ex-dividend date of this dividend is Friday, February 28th. This represents a dividend yield of 7.06%. This is a positive change from Sixth Street Specialty Lending’s previous dividend of $0.05. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is currently 90.64%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Burgundy Asset Management Ltd. lifted its holdings in Sixth Street Specialty Lending by 1.7% in the 4th quarter. Burgundy Asset Management Ltd. now owns 2,192,486 shares of the financial services provider’s stock worth $46,700,000 after buying an additional 37,442 shares in the last quarter. Principal Street Partners LLC purchased a new stake in shares of Sixth Street Specialty Lending during the fourth quarter worth about $306,000. Tidal Investments LLC lifted its stake in shares of Sixth Street Specialty Lending by 2.3% in the fourth quarter. Tidal Investments LLC now owns 52,051 shares of the financial services provider’s stock worth $1,109,000 after acquiring an additional 1,168 shares in the last quarter. ProShare Advisors LLC lifted its stake in shares of Sixth Street Specialty Lending by 16.0% in the fourth quarter. ProShare Advisors LLC now owns 18,086 shares of the financial services provider’s stock worth $385,000 after acquiring an additional 2,489 shares in the last quarter. Finally, Progeny 3 Inc. boosted its holdings in Sixth Street Specialty Lending by 6.1% in the fourth quarter. Progeny 3 Inc. now owns 2,390,680 shares of the financial services provider’s stock valued at $50,921,000 after purchasing an additional 137,906 shares during the last quarter. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

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.