Royal Bank of Canada Boosts Sixth Street Specialty Lending (NYSE:TSLX) Price Target to $25.00

Sixth Street Specialty Lending (NYSE:TSLX) had its price target upped by Royal Bank of Canada from $23.00 to $25.00 in a research note published on Wednesday,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. boosted their price objective on shares of Sixth Street Specialty Lending from $22.50 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Wells Fargo & Company lifted their target price on shares of Sixth Street Specialty Lending from $21.00 to $23.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. LADENBURG THALM/SH SH downgraded shares of Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a report on Friday, February 14th. Keefe, Bruyette & Woods lifted 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 report on Tuesday, February 18th. Finally, Truist Financial lifted 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 report on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.07.

Sixth Street Specialty Lending Stock Up 0.4 %

Sixth Street Specialty Lending stock opened at $23.27 on Wednesday. The firm has a market capitalization of $2.18 billion, a PE ratio of 11.46 and a beta of 1.06. The company’s 50-day moving average is $21.85 and its 200-day moving average is $21.15. Sixth Street Specialty Lending has a fifty-two week low of $19.50 and a fifty-two week high of $23.66. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.90 and a quick ratio of 1.90.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.04. The company 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%. Sell-side analysts anticipate that Sixth Street Specialty Lending will post 2.19 earnings per share for the current year.

Sixth Street Specialty Lending Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 3rd will be issued a $0.07 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a yield of 6.96%. This is an increase from Sixth Street Specialty Lending’s previous dividend of $0.05. Sixth Street Specialty Lending’s payout ratio is currently 90.64%.

Institutional Trading of Sixth Street Specialty Lending

A number of institutional investors have recently bought and sold shares of TSLX. Raymond James Financial Inc. bought a new stake in Sixth Street Specialty Lending in the 4th quarter valued at about $17,488,000. Columbus Macro LLC bought a new stake in Sixth Street Specialty Lending in the 4th quarter valued at about $7,669,000. Progeny 3 Inc. boosted its holdings in Sixth Street Specialty Lending by 10.6% in 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 purchasing an additional 215,996 shares during the period. Parkwood LLC bought a new stake in Sixth Street Specialty Lending in the 4th quarter valued at about $3,937,000. Finally, JPMorgan Chase & Co. boosted 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 valued at $24,131,000 after purchasing an additional 162,810 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.