Sixth Street Specialty Lending (NYSE:TSLX) Price Target Lowered to $22.00 at Keefe, Bruyette & Woods

Sixth Street Specialty Lending (NYSE:TSLX) had its price target reduced by Keefe, Bruyette & Woods from $23.00 to $22.00 in a research note released on Tuesday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider’s stock.

Several other research analysts have also recently issued reports on TSLX. Wells Fargo & Company dropped their price target on Sixth Street Specialty Lending from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Tuesday. Royal Bank Of Canada decreased their target price on Sixth Street Specialty Lending from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Wednesday, November 19th. Truist Financial reduced their target price on Sixth Street Specialty Lending from $24.00 to $22.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Sixth Street Specialty Lending in a research note on Wednesday, December 24th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $22.50.

Sixth Street Specialty Lending Trading Down 1.9%

Shares of Sixth Street Specialty Lending stock opened at $18.86 on Tuesday. The business has a fifty day simple moving average of $21.50 and a 200-day simple moving average of $22.33. Sixth Street Specialty Lending has a fifty-two week low of $18.51 and a fifty-two week high of $25.17. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 10.42 and a beta of 0.70. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 1.08.

Sixth Street Specialty Lending (NYSE:TSLX) last released its earnings results on Thursday, February 12th. The financial services provider reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. Sixth Street Specialty Lending had a net margin of 37.99% and a return on equity of 12.71%. The business had revenue of $108.25 million for the quarter, compared to the consensus estimate of $107.11 million. During the same period in the previous year, the firm earned $0.61 EPS. On average, equities analysts forecast that Sixth Street Specialty Lending will post 2.19 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Monday, March 16th. Sixth Street Specialty Lending’s dividend payout ratio is currently 101.66%.

Hedge Funds Weigh In On Sixth Street Specialty Lending

A number of large investors have recently made changes to their positions in the business. Van ECK Associates Corp boosted its holdings in shares of Sixth Street Specialty Lending by 18.0% during the third quarter. Van ECK Associates Corp now owns 2,529,187 shares of the financial services provider’s stock worth $57,817,000 after purchasing an additional 385,398 shares during the period. Sound Income Strategies LLC lifted its position in Sixth Street Specialty Lending by 4.5% in the 4th quarter. Sound Income Strategies LLC now owns 2,511,115 shares of the financial services provider’s stock worth $55,998,000 after buying an additional 108,708 shares in the last quarter. Progeny 3 Inc. boosted its stake in shares of Sixth Street Specialty Lending by 1.0% during the 2nd quarter. Progeny 3 Inc. now owns 2,476,398 shares of the financial services provider’s stock valued at $58,963,000 after buying an additional 23,451 shares during the period. Burgundy Asset Management Ltd. boosted its stake in shares of Sixth Street Specialty Lending by 1.4% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 2,378,968 shares of the financial services provider’s stock valued at $56,643,000 after buying an additional 31,922 shares during the period. Finally, Bank of Montreal Can grew its holdings in shares of Sixth Street Specialty Lending by 419.5% during the 4th quarter. Bank of Montreal Can now owns 2,284,920 shares of the financial services provider’s stock valued at $49,628,000 after acquiring an additional 1,845,088 shares in the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

Sixth Street Specialty Lending Company Profile

Sixth Street Specialty Lending Inc (NYSE: TSLX) is a closed-end, externally managed business development company that provides flexible debt financing solutions to middle-market companies. The fund primarily targets senior secured loans, unitranche facilities, mezzanine debt, second-lien financings and equity co-investment opportunities. By structuring tailored capital solutions, Sixth Street Specialty Lending seeks to support growth initiatives, recapitalizations and refinancings across a diverse set of industries, including technology, healthcare and business services.

As an affiliate of Sixth Street Partners, a global alternative investment firm, the company leverages the broader platform’s credit research, operational expertise and industry relationships.