SunTrust Banks, Inc. Reaffirms Buy Rating for TPG Specialty Lending, Inc. (TSLX)
SunTrust Banks, Inc. reaffirmed their buy rating on shares of TPG Specialty Lending, Inc. (NYSE:TSLX) in a research report released on Wednesday. SunTrust Banks, Inc. currently has a $22.00 target price on the financial services provider’s stock, up from their prior target price of $21.00.
A number of other research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of TPG Specialty Lending from a buy rating to a hold rating in a research note on Tuesday. JMP Securities upped their price objective on shares of TPG Specialty Lending from $21.50 to $22.00 and gave the company an outperform rating in a research note on Monday, August 7th. National Securities reaffirmed a neutral rating and set a $19.00 price objective on shares of TPG Specialty Lending in a research note on Monday, August 7th. Finally, BidaskClub raised shares of TPG Specialty Lending from a buy rating to a strong-buy rating in a research note on Tuesday, August 1st. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. TPG Specialty Lending has an average rating of Buy and an average target price of $20.17.
TPG Specialty Lending (TSLX) traded up 0.33% during midday trading on Wednesday, reaching $21.33. 350,242 shares of the company traded hands. The company’s 50-day moving average price is $20.70 and its 200 day moving average price is $20.24. TPG Specialty Lending has a 12 month low of $17.00 and a 12 month high of $21.62.
TPG Specialty Lending (NYSE:TSLX) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.11. TPG Specialty Lending had a net margin of 60.77% and a return on equity of 12.68%. The company had revenue of $58.82 million during the quarter, compared to the consensus estimate of $49.41 million. During the same quarter in the prior year, the company posted $0.43 EPS. The company’s quarterly revenue was up 27.8% compared to the same quarter last year. Equities research analysts anticipate that TPG Specialty Lending will post $1.91 EPS for the current year.
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The business also recently disclosed a special dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, August 31st will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a dividend yield of 7.38%. This is an increase from TPG Specialty Lending’s previous special dividend of $0.04. TPG Specialty Lending’s dividend payout ratio is currently 71.89%.
Several hedge funds and other institutional investors have recently bought and sold shares of TSLX. Muzinich & Co. Inc. increased its position in TPG Specialty Lending by 0.7% in the second quarter. Muzinich & Co. Inc. now owns 2,131,705 shares of the financial services provider’s stock worth $43,593,000 after buying an additional 15,806 shares in the last quarter. Greenwich Investment Management Inc. purchased a new stake in shares of TPG Specialty Lending during the second quarter worth about $2,305,000. California Public Employees Retirement System purchased a new stake in shares of TPG Specialty Lending during the second quarter worth about $491,000. Pinebridge Investments L.P. boosted its stake in shares of TPG Specialty Lending by 1.9% in the second quarter. Pinebridge Investments L.P. now owns 5,102 shares of the financial services provider’s stock worth $104,000 after buying an additional 94 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its stake in shares of TPG Specialty Lending by 81.5% in the second quarter. GSA Capital Partners LLP now owns 38,684 shares of the financial services provider’s stock worth $791,000 after buying an additional 17,370 shares during the last quarter. 64.35% of the stock is owned by institutional investors.
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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