Sixth Street Specialty Lending (NYSE:TSLX) Sets New 12-Month Low Following Analyst Downgrade

Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) reached a new 52-week low during mid-day trading on Monday after Weiss Ratings downgraded the stock from a buy (b-) rating to a hold (c+) rating. The stock traded as low as $17.91 and last traded at $17.9830, with a volume of 416912 shares traded. The stock had previously closed at $18.19.

Other analysts have also issued reports about the company. JPMorgan Chase & Co. dropped their price objective on Sixth Street Specialty Lending from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday, February 17th. 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, February 17th. Keefe, Bruyette & Woods cut their target price on Sixth Street Specialty Lending from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Tuesday, February 17th. Citizens Jmp reiterated a “market outperform” rating and issued a $25.00 price objective on shares of Sixth Street Specialty Lending in a research report on Wednesday, February 18th. Finally, Truist Financial dropped their price target on shares of Sixth Street Specialty Lending from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.25.

Hedge Funds Weigh In On Sixth Street Specialty Lending

Institutional investors have recently modified their holdings of the business. Texas Yale Capital Corp. grew its holdings in shares of Sixth Street Specialty Lending by 1.4% in the 2nd quarter. Texas Yale Capital Corp. now owns 35,500 shares of the financial services provider’s stock worth $845,000 after acquiring an additional 500 shares during the period. Chicago Partners Investment Group LLC boosted its position in Sixth Street Specialty Lending by 2.2% during the third quarter. Chicago Partners Investment Group LLC now owns 23,369 shares of the financial services provider’s stock worth $534,000 after purchasing an additional 505 shares in the last quarter. Lido Advisors LLC grew its holdings in Sixth Street Specialty Lending by 1.2% in the fourth quarter. Lido Advisors LLC now owns 42,172 shares of the financial services provider’s stock valued at $958,000 after purchasing an additional 506 shares during the last quarter. Stratos Wealth Partners LTD. increased its position in shares of Sixth Street Specialty Lending by 5.6% in the fourth quarter. Stratos Wealth Partners LTD. now owns 10,047 shares of the financial services provider’s stock valued at $218,000 after buying an additional 532 shares in the last quarter. Finally, IFG Advisory LLC raised its stake in shares of Sixth Street Specialty Lending by 2.7% during the 3rd quarter. IFG Advisory LLC now owns 21,159 shares of the financial services provider’s stock worth $484,000 after buying an additional 551 shares during the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

Sixth Street Specialty Lending Stock Down 1.3%

The firm has a market capitalization of $1.70 billion, a PE ratio of 9.92 and a beta of 0.70. The firm’s 50-day moving average is $21.19 and its 200 day moving average is $22.18. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.83 and a current ratio of 2.83.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its earnings results on Thursday, February 12th. The financial services provider reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.20). 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 analysts’ expectations of $107.11 million. During the same quarter last year, the business posted $0.61 earnings per share. As a group, research analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.19 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Monday, March 16th. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. Sixth Street Specialty Lending’s dividend payout ratio is presently 101.66%.

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.