Sixth Street Specialty Lending (NYSE:TSLX) PT Lowered to $23.00 at Keefe, Bruyette & Woods

Sixth Street Specialty Lending (NYSE:TSLX) had its price objective decreased by Keefe, Bruyette & Woods from $23.50 to $23.00 in a research report released on Monday morning, Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider’s stock.

Other equities analysts also recently issued reports about the company. Royal Bank of Canada boosted their price objective on Sixth Street Specialty Lending from $22.00 to $23.00 and gave the stock an outperform rating in a research report on Friday, February 23rd. Wells Fargo & Company boosted their price target on shares of Sixth Street Specialty Lending from $21.00 to $22.50 and gave the stock an overweight rating in a report on Monday, January 29th. Truist Financial raised their price objective on shares of Sixth Street Specialty Lending from $22.00 to $23.00 and gave the company a buy rating in a report on Tuesday, February 20th. Finally, JMP Securities reiterated a market outperform rating and set a $22.50 target price on shares of Sixth Street Specialty Lending in a research note on Tuesday, March 26th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $22.67.

Sixth Street Specialty Lending Price Performance

Sixth Street Specialty Lending stock opened at $21.36 on Monday. The company’s 50 day moving average is $21.06 and its two-hundred day moving average is $21.16. The firm has a market cap of $1.98 billion, a PE ratio of 8.61 and a beta of 1.03. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 1.14. Sixth Street Specialty Lending has a 52-week low of $17.31 and a 52-week high of $22.35.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings data on Friday, February 16th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.04. Sixth Street Specialty Lending had a return on equity of 13.74% and a net margin of 47.16%. The business had revenue of $119.50 million for the quarter, compared to analysts’ expectations of $115.18 million. During the same period last year, the firm earned $0.65 earnings per share. On average, research analysts expect that Sixth Street Specialty Lending will post 2.35 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, May 31st will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Friday, May 31st. Sixth Street Specialty Lending’s payout ratio is 74.19%.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Community Bank N.A. grew its holdings in shares of Sixth Street Specialty Lending by 50.0% during the fourth quarter. Community Bank N.A. now owns 1,500 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 500 shares during the last quarter. Precision Wealth Strategies LLC grew its stake in Sixth Street Specialty Lending by 5.7% during the 1st quarter. Precision Wealth Strategies LLC now owns 10,030 shares of the financial services provider’s stock worth $215,000 after buying an additional 537 shares during the last quarter. Nations Financial Group Inc. IA ADV increased its position in Sixth Street Specialty Lending by 1.6% during the first quarter. Nations Financial Group Inc. IA ADV now owns 36,276 shares of the financial services provider’s stock worth $777,000 after buying an additional 571 shares during the period. Total Clarity Wealth Management Inc. lifted its stake in Sixth Street Specialty Lending by 1.5% in the fourth quarter. Total Clarity Wealth Management Inc. now owns 48,998 shares of the financial services provider’s stock valued at $1,058,000 after buying an additional 705 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in shares of Sixth Street Specialty Lending by 19.3% in the third quarter. Signaturefd LLC now owns 4,367 shares of the financial services provider’s stock valued at $89,000 after acquiring an additional 707 shares during the period. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Sixth Street Specialty Lending Company Profile

Sixth Street Specialty Lending, Inc (NYSE: TSLX) is a business development company. The fund provides senior secured loans (first-lien, second-lien, and unitranche), unsecured loans, mezzanine debt, and investments in corporate bonds and equity securities and structured products, non-control structured equity, and common equity with a focus on co-investments for organic growth, acquisitions, market or product expansion, restructuring initiatives, recapitalizations, and refinancing.