TPG Specialty Lending, Inc. (NYSE:TSLX) Reaches New 1-Year High at $21.59
TPG Specialty Lending, Inc. (NYSE:TSLX)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $21.59 and last traded at $21.59, with a volume of 120,888 shares trading hands. The stock had previously closed at $21.32.
A number of equities analysts have recently issued reports on the stock. BidaskClub upgraded shares of TPG Specialty Lending from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. Zacks Investment Research downgraded shares of TPG Specialty Lending from a “buy” rating to a “hold” rating in a report on Tuesday. National Securities restated a “neutral” rating and set a $19.00 target price on shares of TPG Specialty Lending in a report on Monday. SunTrust Banks, Inc. restated a “buy” rating and set a $22.00 target price (up from $21.00) on shares of TPG Specialty Lending in a report on Wednesday. Finally, JMP Securities raised their price target on shares of TPG Specialty Lending from $21.50 to $22.00 and gave the stock an “outperform” rating in a research note on Monday. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $20.17.
TPG Specialty Lending (NYSE:TSLX) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.11. TPG Specialty Lending had a return on equity of 12.68% and a net margin of 60.77%. The company had revenue of $58.82 million during the quarter, compared to analysts’ expectations of $49.41 million. During the same period in the prior year, the business earned $0.43 earnings per share. TPG Specialty Lending’s revenue for the quarter was up 27.8% compared to the same quarter last year.
The firm also recently disclosed a special dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, August 31st will be given a $0.09 dividend. This represents a dividend yield of 7.38%. This is a boost from TPG Specialty Lending’s previous special dividend of $0.04. The ex-dividend date of this dividend is Tuesday, August 29th. TPG Specialty Lending’s dividend payout ratio is currently 71.89%.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. M&T Bank Corp purchased a new position in shares of TPG Specialty Lending during the first quarter worth approximately $280,000. Oxford Asset Management purchased a new position in shares of TPG Specialty Lending during the first quarter worth approximately $715,000. CIBC World Markets Inc. raised its position in shares of TPG Specialty Lending by 107.4% in the first quarter. CIBC World Markets Inc. now owns 23,681 shares of the financial services provider’s stock worth $483,000 after buying an additional 12,262 shares during the last quarter. Ameriprise Financial Inc. purchased a new position in shares of TPG Specialty Lending during the first quarter worth approximately $201,000. Finally, Advisors Asset Management Inc. raised its position in shares of TPG Specialty Lending by 28.1% in the first quarter. Advisors Asset Management Inc. now owns 239,547 shares of the financial services provider’s stock worth $4,884,000 after buying an additional 52,528 shares during the last quarter. Institutional investors and hedge funds own 64.35% of the company’s stock.
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TPG Specialty Lending Company Profile
TPG Specialty Lending, Inc is an externally managed, closed-end, non-diversified management investment company. The Company is a specialty finance company focused on lending to middle-market companies. It seeks to generate current income primarily in the United States-domiciled middle-market companies through direct originations of senior secured loans and originations of mezzanine and unsecured loans and investments in corporate bonds and equity securities.
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