Sixth Street Specialty Lending (NYSE:TSLX) Price Target Lowered to $22.00 at Truist Financial

Sixth Street Specialty Lending (NYSE:TSLX) had its price objective decreased by Truist Financial from $24.00 to $22.00 in a research note released on Tuesday morning,Benzinga reports. Truist Financial currently has a buy rating on the financial services provider’s stock.

Other research analysts also recently issued research reports about the stock. Royal Bank Of Canada lowered their price objective on shares of 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. Weiss Ratings restated a “buy (b-)” rating on shares of Sixth Street Specialty Lending in a report on Wednesday, December 24th. Wells Fargo & Company dropped their price target on shares of Sixth Street Specialty Lending from $22.00 to $20.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Keefe, Bruyette & Woods cut their price target on Sixth Street Specialty Lending from $24.00 to $23.00 and set an “outperform” rating for the company in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Sixth Street Specialty Lending presently has an average rating of “Buy” and a consensus target price of $22.50.

Sixth Street Specialty Lending Price Performance

TSLX stock opened at $18.86 on Tuesday. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.83 and a quick ratio of 2.83. The company’s 50-day moving average is $21.50 and its 200-day moving average is $22.33. The stock has a market capitalization of $1.79 billion, a PE ratio of 10.42 and a beta of 0.70. Sixth Street Specialty Lending has a 1 year low of $18.51 and a 1 year high of $25.17.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings data on Thursday, February 12th. The financial services provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.50 by $0.02. Sixth Street Specialty Lending had a return on equity of 12.71% and a net margin of 37.99%.The firm had revenue of $108.25 million during the quarter, compared to the consensus estimate of $107.11 million. During the same quarter in the previous year, the company posted $0.61 earnings per share. Equities research analysts expect 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. Shareholders of record on Monday, March 16th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Monday, March 16th. Sixth Street Specialty Lending’s dividend payout ratio is 101.66%.

Hedge Funds Weigh In On Sixth Street Specialty Lending

Several institutional investors have recently added to or reduced their stakes in TSLX. Guggenheim Capital LLC grew its position in shares of Sixth Street Specialty Lending by 6.5% during the 4th quarter. Guggenheim Capital LLC now owns 28,593 shares of the financial services provider’s stock valued at $621,000 after acquiring an additional 1,736 shares during the period. Cetera Investment Advisers lifted its stake in Sixth Street Specialty Lending by 6.4% in the fourth quarter. Cetera Investment Advisers now owns 593,881 shares of the financial services provider’s stock valued at $12,899,000 after purchasing an additional 35,935 shares during the last quarter. Kovack Advisors Inc. bought a new position in Sixth Street Specialty Lending during the fourth quarter valued at $462,000. Price T Rowe Associates Inc. MD increased its position in Sixth Street Specialty Lending by 4.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 21,905 shares of the financial services provider’s stock worth $476,000 after buying an additional 968 shares during the last quarter. Finally, Osaic Holdings Inc. increased its position in Sixth Street Specialty Lending by 30.3% in the fourth quarter. Osaic Holdings Inc. now owns 54,374 shares of the financial services provider’s stock worth $1,181,000 after buying an additional 12,642 shares during the last quarter. Institutional investors own 70.25% of the company’s stock.

About Sixth Street Specialty Lending

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.