Sixth Street Specialty Lending (NYSE:TSLX - Free Report) had its price target reduced by Keefe, Bruyette & Woods from $23.50 to $23.00 in a research report sent to investors on Monday, Benzinga reports. They currently have an outperform rating on the financial services provider's stock.
A number of other equities research analysts have also recently issued reports on TSLX. Wells Fargo & Company boosted their target price on shares of Sixth Street Specialty Lending from $21.00 to $22.50 and gave the company an overweight rating in a report on Monday, January 29th. JMP Securities reissued a market outperform rating and set a $22.50 target price on shares of Sixth Street Specialty Lending in a report on Tuesday, March 26th. Royal Bank of Canada boosted their price target on shares of 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 boosted their price target on shares of 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 analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $22.67.
Get Our Latest Research Report on Sixth Street Specialty Lending
Sixth Street Specialty Lending Stock Up 0.1 %
NYSE:TSLX traded up $0.02 on Monday, hitting $21.04. The stock had a trading volume of 642,199 shares, compared to its average volume of 413,746. Sixth Street Specialty Lending has a 1 year low of $17.31 and a 1 year high of $22.35. The firm's fifty day simple moving average is $21.10 and its two-hundred day simple moving average is $21.14. The stock has a market cap of $1.95 billion, a P/E ratio of 8.48 and a beta of 1.03. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.03 and a current ratio of 2.03.
Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last announced its earnings results 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. The firm had revenue of $119.50 million during the quarter, compared to analyst estimates of $115.18 million. Sixth Street Specialty Lending had a return on equity of 13.74% and a net margin of 47.16%. During the same period last year, the firm posted $0.65 EPS. Analysts predict that Sixth Street Specialty Lending will post 2.35 earnings per share for the current year.
Sixth Street Specialty Lending Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, May 31st will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.14%. The ex-dividend date is Friday, May 31st. Sixth Street Specialty Lending's dividend payout ratio is presently 74.19%.
Institutional Trading of Sixth Street Specialty Lending
Hedge funds have recently added to or reduced their stakes in the business. Community Bank N.A. raised its stake 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 valued at $32,000 after acquiring an additional 500 shares during the last quarter. Precision Wealth Strategies LLC raised its stake in Sixth Street Specialty Lending by 5.7% in the first 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 in the last quarter. Nations Financial Group Inc. IA ADV raised its stake in Sixth Street Specialty Lending by 1.6% in 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 in the last quarter. Total Clarity Wealth Management Inc. raised 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 worth $1,058,000 after buying an additional 705 shares in the last quarter. Finally, Signaturefd LLC raised its stake in 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 worth $89,000 after buying an additional 707 shares in the last quarter. 70.25% of the stock is owned by institutional investors.
About Sixth Street Specialty Lending
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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.
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