Sixth Street Specialty Lending (NYSE:TSLX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Sixth Street Specialty Lending (NYSE:TSLX) from a sell rating to a hold rating in a research note released on Saturday.

A number of other research firms have also commented on TSLX. Truist Financial lowered their price target on shares of Sixth Street Specialty Lending from $22.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Royal Bank Of Canada cut their price target on shares of Sixth Street Specialty Lending from $22.00 to $20.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. Keefe, Bruyette & Woods decreased their price objective on shares of Sixth Street Specialty Lending from $21.00 to $18.50 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. Citizens Jmp lowered their price objective on shares of Sixth Street Specialty Lending from $25.00 to $24.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 22nd. Finally, Weiss Ratings lowered shares of Sixth Street Specialty Lending from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 18th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.83.

Sixth Street Specialty Lending Price Performance

Shares of Sixth Street Specialty Lending stock opened at $18.75 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 9.83 and a quick ratio of 9.83. The business’s 50 day simple moving average is $17.21 and its two-hundred day simple moving average is $18.22. The stock has a market capitalization of $1.78 billion, a P/E ratio of 19.74 and a beta of 0.59. Sixth Street Specialty Lending has a one year low of $16.04 and a one year high of $24.79.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.01. Sixth Street Specialty Lending had a return on equity of 11.33% and a net margin of 21.79%.The firm had revenue of $97.84 million during the quarter, compared to the consensus estimate of $95.28 million. During the same quarter in the previous year, the company posted $0.56 earnings per share. Analysts forecast that Sixth Street Specialty Lending will post 1.72 EPS for the current year.

Sixth Street Specialty Lending Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 9.0%. The ex-dividend date is Tuesday, September 15th. Sixth Street Specialty Lending’s dividend payout ratio is currently 176.84%.

Institutional Trading of Sixth Street Specialty Lending

Several large investors have recently added to or reduced their stakes in the stock. Quantum Portfolio Management LLC bought a new position in Sixth Street Specialty Lending in the 1st quarter worth $273,434,000. Strs Ohio boosted its stake in shares of Sixth Street Specialty Lending by 101.8% during the 1st quarter. Strs Ohio now owns 4,347,710 shares of the financial services provider’s stock valued at $79,911,000 after purchasing an additional 2,193,551 shares in the last quarter. Sound Income Strategies LLC increased its position in shares of Sixth Street Specialty Lending by 2.4% during the first quarter. Sound Income Strategies LLC now owns 2,571,052 shares of the financial services provider’s stock valued at $46,562,000 after buying an additional 59,937 shares during the period. Progeny 3 Inc. increased its position in shares of Sixth Street Specialty Lending by 1.0% during the second 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. Finally, Bank of Montreal Can increased its position in shares of Sixth Street Specialty Lending by 419.5% during the fourth quarter. Bank of Montreal Can now owns 2,284,920 shares of the financial services provider’s stock valued at $49,628,000 after buying an additional 1,845,088 shares during the period. 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.