TPG Specialty Lending, Inc. (NYSE:TSLX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
According to Zacks, “TPG Specialty Lending, Inc. is a specialty finance company. It is focused on providing fully-underwritten capital solutions to middle market companies. The Company specializes in standalone first-lien loans, standalone second-lien loans, mezzanine loans, unitranche loans. TPG Specialty Lending, Inc. is based in Fort Worth, Texas. “
Separately, National Securities reissued a “neutral” rating and set a $19.00 price objective on shares of TPG Specialty Lending in a research note on Monday, May 8th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $18.83.
Shares of TPG Specialty Lending (NYSE TSLX) traded down 0.024% on Thursday, reaching $20.565. 25,481 shares of the company were exchanged. The stock has a 50 day moving average of $20.64 and a 200-day moving average of $19.85. TPG Specialty Lending has a 52-week low of $17.00 and a 52-week high of $21.10.
TPG Specialty Lending (NYSE:TSLX) last announced its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.03. TPG Specialty Lending had a net margin of 73.53% and a return on equity of 11.94%. The company had revenue of $50.95 million for the quarter, compared to the consensus estimate of $48.81 million. Analysts expect that TPG Specialty Lending will post $1.80 EPS for the current fiscal year.
The business also recently declared a special dividend, which was paid on Friday, June 30th. Shareholders of record on Wednesday, May 31st were paid a dividend of $0.04 per share. This represents a yield of 7.68%. The ex-dividend date of this dividend was Friday, May 26th. TPG Specialty Lending’s dividend payout ratio is currently 62.90%.
A number of institutional investors have recently bought and sold shares of the company. Ameriprise Financial Inc. acquired a new stake in TPG Specialty Lending during the first quarter valued at about $201,000. Koshinski Asset Management Inc. acquired a new stake in TPG Specialty Lending during the first quarter valued at about $215,000. Dynamic Technology Lab Private Ltd acquired a new stake in TPG Specialty Lending during the first quarter valued at about $233,000. Sigma Planning Corp acquired a new stake in TPG Specialty Lending during the first quarter valued at about $261,000. Finally, M&T Bank Corp acquired a new stake in TPG Specialty Lending during the first quarter valued at about $280,000. 64.38% of the stock is currently owned by institutional investors.
About TPG Specialty Lending
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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