B. Riley Research Analysts Decrease Earnings Estimates for Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) - B. Riley reduced their Q1 2024 earnings estimates for shares of Sixth Street Specialty Lending in a research note issued on Wednesday, April 3rd. B. Riley analyst B. Rowe now anticipates that the financial services provider will earn $0.55 per share for the quarter, down from their prior forecast of $0.56. The consensus estimate for Sixth Street Specialty Lending's current full-year earnings is $2.36 per share.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last issued its earnings results on Friday, February 16th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.04. Sixth Street Specialty Lending had a return on equity of 13.67% and a net margin of 50.69%. The business had revenue of $119.50 million during the quarter, compared to analysts' expectations of $115.18 million. During the same quarter in the previous year, the business earned $0.65 EPS.

TSLX has been the subject of a number of other research reports. Wells Fargo & Company boosted their target price on Sixth Street Specialty Lending from $21.00 to $22.50 and gave the stock an "overweight" rating in a report on Monday, January 29th. JMP Securities reissued a "market outperform" rating and set a $22.50 price target on shares of Sixth Street Specialty Lending in a research report on Tuesday, March 26th. Royal Bank of Canada upped their price target on Sixth Street Specialty Lending from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Friday, February 23rd. Finally, Truist Financial upped their price target on Sixth Street Specialty Lending from $22.00 to $23.00 and gave the company a "buy" rating in a research report on Tuesday, February 20th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $22.60.

Sixth Street Specialty Lending Trading Down 0.9 %

Shares of NYSE:TSLX traded down $0.20 during trading on Thursday, reaching $20.88. 246,894 shares of the stock were exchanged, compared to its average volume of 410,094. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.66 and a current ratio of 1.66. Sixth Street Specialty Lending has a 12-month low of $17.31 and a 12-month high of $22.35. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 8.03 and a beta of 1.04. The firm's 50-day moving average price is $21.35 and its 200 day moving average price is $20.98.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Several large investors have recently added to or reduced their stakes in TSLX. Strs Ohio grew its stake in shares of Sixth Street Specialty Lending by 2.6% in the fourth quarter. Strs Ohio now owns 3,134,865 shares of the financial services provider's stock worth $67,713,000 after purchasing an additional 79,180 shares in the last quarter. Burgundy Asset Management Ltd. grew its stake in shares of Sixth Street Specialty Lending by 3.2% in the fourth quarter. Burgundy Asset Management Ltd. now owns 2,057,960 shares of the financial services provider's stock worth $44,452,000 after purchasing an additional 63,281 shares in the last quarter. Sound Income Strategies LLC grew its stake in shares of Sixth Street Specialty Lending by 8.1% in the fourth quarter. Sound Income Strategies LLC now owns 1,989,678 shares of the financial services provider's stock worth $42,977,000 after purchasing an additional 148,290 shares in the last quarter. Morgan Stanley grew its stake in shares of Sixth Street Specialty Lending by 9.2% in the third quarter. Morgan Stanley now owns 1,942,510 shares of the financial services provider's stock worth $39,705,000 after purchasing an additional 164,351 shares in the last quarter. Finally, Progeny 3 Inc. grew its stake in shares of Sixth Street Specialty Lending by 7.7% in the second quarter. Progeny 3 Inc. now owns 1,843,977 shares of the financial services provider's stock worth $34,464,000 after purchasing an additional 132,253 shares in the last quarter. 70.25% of the stock is owned by institutional investors and hedge funds.

Sixth Street Specialty Lending Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a $0.08 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Sixth Street Specialty Lending's previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a yield of 1.53%. Sixth Street Specialty Lending's dividend payout ratio (DPR) is currently 70.77%.

About Sixth Street Specialty Lending

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.