Sixth Street Specialty Lending (NYSE:TSLX) Given New $21.00 Price Target at JPMorgan Chase & Co.

Sixth Street Specialty Lending (NYSE:TSLX) had its target price trimmed by JPMorgan Chase & Co. from $23.00 to $21.00 in a report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

TSLX has been the topic of a number of other research reports. Royal Bank Of Canada lowered their target price on Sixth Street Specialty Lending from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 19th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Sixth Street Specialty Lending in a research report on Wednesday, December 24th. Truist Financial dropped 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. Wells Fargo & Company decreased 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 note on Tuesday. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Sixth Street Specialty Lending from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $22.50.

Sixth Street Specialty Lending Stock Performance

NYSE TSLX opened at $18.86 on Tuesday. The stock has a market cap of $1.79 billion, a PE ratio of 10.42 and a beta of 0.70. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.83 and a current ratio of 2.83. The firm has a 50-day moving average of $21.50 and a 200-day moving average of $22.33. Sixth Street Specialty Lending has a 52-week low of $18.51 and a 52-week high of $25.17.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings results on Thursday, February 12th. The financial services provider reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. The business had revenue of $108.25 million for the quarter, compared to analyst estimates of $107.11 million. Sixth Street Specialty Lending had a net margin of 37.99% and a return on equity of 12.71%. During the same quarter in the prior year, the business earned $0.61 EPS. On average, sell-side analysts anticipate that Sixth Street Specialty Lending will post 2.19 EPS for the current year.

Sixth Street Specialty Lending Cuts Dividend

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

Institutional Investors Weigh In On Sixth Street Specialty Lending

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Harbor Investment Advisory LLC boosted its holdings in shares of Sixth Street Specialty Lending by 673.2% in the 4th quarter. Harbor Investment Advisory LLC now owns 1,732 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 1,508 shares in the last quarter. MTM Investment Management LLC bought a new stake in shares of Sixth Street Specialty Lending during the 2nd quarter worth $49,000. Advisory Services Network LLC acquired a new stake in Sixth Street Specialty Lending in the third quarter valued at about $75,000. Redmont Wealth Advisors LLC acquired a new stake in Sixth Street Specialty Lending in the third quarter valued at about $79,000. Finally, First Horizon Advisors Inc. grew its position in Sixth Street Specialty Lending by 74.0% in the second quarter. First Horizon Advisors Inc. now owns 4,123 shares of the financial services provider’s stock valued at $98,000 after acquiring an additional 1,753 shares during the last quarter. 70.25% of the stock is currently owned by institutional investors.

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.