Sixth Street Specialty Lending (NYSE:TSLX) Given New $23.00 Price Target at Wells Fargo & Company

Sixth Street Specialty Lending (NYSE:TSLX) had its price objective boosted by Wells Fargo & Company from $21.00 to $23.00 in a research report report published on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the financial services provider’s stock.

Several other brokerages have also recently weighed in on TSLX. LADENBURG THALM/SH SH upgraded Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 target price for the company in a report on Wednesday, November 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $23.00 price objective on shares of Sixth Street Specialty Lending in a research note on Tuesday, November 12th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $22.33.

Sixth Street Specialty Lending Trading Down 0.8 %

TSLX stock opened at $21.92 on Wednesday. Sixth Street Specialty Lending has a 12 month low of $19.50 and a 12 month high of $22.28. The firm’s 50-day moving average is $21.27 and its 200 day moving average is $20.92. The company has a market capitalization of $2.05 billion, a PE ratio of 10.64 and a beta of 1.05. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.50 and a quick ratio of 2.50.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its earnings results on Tuesday, November 5th. The financial services provider reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. The business had revenue of $119.22 million for the quarter, compared to analyst estimates of $119.85 million. Sixth Street Specialty Lending had a net margin of 39.05% and a return on equity of 13.55%. During the same period last year, the company posted $0.60 earnings per share. On average, research analysts anticipate that Sixth Street Specialty Lending will post 2.31 EPS for the current year.

Sixth Street Specialty Lending Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 2nd were given a dividend of $0.05 per share. This represents a yield of 7.59%. The ex-dividend date was Friday, November 29th. Sixth Street Specialty Lending’s payout ratio is currently 89.32%.

Hedge Funds Weigh In On Sixth Street Specialty Lending

Large investors have recently added to or reduced their stakes in the company. Trust Co. of Vermont purchased a new position in shares of Sixth Street Specialty Lending in the 4th quarter worth approximately $39,000. Quarry LP grew its holdings in Sixth Street Specialty Lending by 378.3% in the third quarter. Quarry LP now owns 4,094 shares of the financial services provider’s stock worth $84,000 after purchasing an additional 3,238 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of Sixth Street Specialty Lending during the third quarter worth $86,000. EMC Capital Management lifted its holdings in shares of Sixth Street Specialty Lending by 92.5% during the 4th quarter. EMC Capital Management now owns 6,747 shares of the financial services provider’s stock valued at $144,000 after purchasing an additional 3,242 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Sixth Street Specialty Lending in the 3rd quarter worth $196,000. 70.25% of the stock is currently owned by 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.