Sixth Street Specialty Lending’s (TSLX) Market Outperform Rating Reiterated at JMP Securities

JMP Securities reissued their market outperform rating on shares of Sixth Street Specialty Lending (NYSE:TSLX) in a report issued on Tuesday morning, Benzinga reports. JMP Securities currently has a $22.50 price target on the financial services provider’s stock.

Other equities analysts have also issued research reports about the stock. Royal Bank of Canada lifted their price target on shares of Sixth Street Specialty Lending from $22.00 to $23.00 and gave the company an outperform rating in a report on Friday, February 23rd. Wells Fargo & Company lifted their price target on shares of Sixth Street Specialty Lending from $21.00 to $22.50 and gave the company an overweight rating in a report on Monday, January 29th. Finally, Truist Financial lifted their price target on shares of Sixth Street Specialty Lending from $22.00 to $23.00 and gave the company a buy rating in a report on Tuesday, February 20th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Sixth Street Specialty Lending presently has a consensus rating of Moderate Buy and a consensus price target of $22.60.

Sixth Street Specialty Lending Trading Up 1.0 %

Shares of TSLX opened at $21.46 on Tuesday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.66 and a quick ratio of 1.66. The firm has a 50 day simple moving average of $21.44 and a 200-day simple moving average of $20.95. Sixth Street Specialty Lending has a 1-year low of $17.31 and a 1-year high of $22.35. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 8.25 and a beta of 1.04.

Sixth Street Specialty Lending (NYSE:TSLX) last released its earnings results on Friday, February 16th. The financial services provider reported $0.62 EPS for the quarter, topping the consensus estimate of $0.58 by $0.04. The firm had revenue of $119.50 million during the quarter, compared to analysts’ expectations of $115.18 million. Sixth Street Specialty Lending had a net margin of 50.69% and a return on equity of 13.67%. During the same period in the previous year, the company earned $0.65 EPS. Equities analysts forecast that Sixth Street Specialty Lending will post 2.36 EPS for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a $0.08 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.32 annualized dividend and a dividend yield of 1.49%. This is an increase from Sixth Street Specialty Lending’s previous quarterly dividend of $0.07. Sixth Street Specialty Lending’s payout ratio is presently 70.77%.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Several hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its position in shares of Sixth Street Specialty Lending by 6.0% during the 1st quarter. JPMorgan Chase & Co. now owns 157,382 shares of the financial services provider’s stock valued at $3,666,000 after buying an additional 8,969 shares during the last quarter. Raymond James & Associates lifted its stake in shares of Sixth Street Specialty Lending by 5.8% in the 1st quarter. Raymond James & Associates now owns 148,013 shares of the financial services provider’s stock worth $3,447,000 after acquiring an additional 8,170 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Sixth Street Specialty Lending by 15.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 17,805 shares of the financial services provider’s stock worth $415,000 after acquiring an additional 2,373 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Sixth Street Specialty Lending by 35.8% in the 1st quarter. Bank of New York Mellon Corp now owns 177,235 shares of the financial services provider’s stock worth $4,128,000 after acquiring an additional 46,680 shares during the period. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in shares of Sixth Street Specialty Lending by 2.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 33,957 shares of the financial services provider’s stock worth $791,000 after acquiring an additional 802 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.