Keefe, Bruyette & Woods Cuts Sixth Street Specialty Lending (NYSE:TSLX) Price Target to $22.00

Sixth Street Specialty Lending (NYSE:TSLX) had its price target cut by Keefe, Bruyette & Woods from $23.00 to $22.00 in a research note released on Tuesday,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

A number of other equities analysts also recently commented on TSLX. Royal Bank Of Canada dropped their target price on shares of Sixth Street Specialty Lending from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 19th. Wells Fargo & Company reduced their price objective on Sixth Street Specialty Lending from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Tuesday. Truist Financial decreased their target price on Sixth Street Specialty Lending from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Sixth Street Specialty Lending in a research report on Wednesday, December 24th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $22.50.

Sixth Street Specialty Lending Stock Performance

Sixth Street Specialty Lending stock opened at $18.66 on Tuesday. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 1.08. Sixth Street Specialty Lending has a twelve month low of $18.25 and a twelve month high of $25.17. The company’s 50-day moving average price is $21.35 and its 200-day moving average price is $22.28. The company has a market cap of $1.77 billion, a PE ratio of 10.31 and a beta of 0.70.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings data on Thursday, February 12th. The financial services provider reported $0.52 EPS for the quarter, topping the consensus estimate of $0.50 by $0.02. Sixth Street Specialty Lending had a net margin of 37.99% and a return on equity of 12.71%. The company had revenue of $108.25 million during the quarter, compared to analyst estimates of $107.11 million. During the same period in the previous year, the firm earned $0.61 earnings per share. On average, equities research analysts forecast that Sixth Street Specialty Lending will post 2.19 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. Sixth Street Specialty Lending’s payout ratio is 101.66%.

Institutional Trading of Sixth Street Specialty Lending

A number of hedge funds have recently modified their holdings of the stock. Corient Private Wealth LLC grew its stake in shares of Sixth Street Specialty Lending by 16.0% during the 4th quarter. Corient Private Wealth LLC now owns 78,237 shares of the financial services provider’s stock worth $1,699,000 after purchasing an additional 10,765 shares during the period. Beacon Pointe Advisors LLC lifted its stake in shares of Sixth Street Specialty Lending by 23.8% in the 4th quarter. Beacon Pointe Advisors LLC now owns 62,519 shares of the financial services provider’s stock valued at $1,358,000 after purchasing an additional 12,000 shares during the period. XTX Topco Ltd purchased a new stake in Sixth Street Specialty Lending during the fourth quarter worth $475,000. Millennium Management LLC acquired a new stake in Sixth Street Specialty Lending during the fourth quarter valued at $744,000. Finally, IHT Wealth Management LLC increased its holdings in Sixth Street Specialty Lending by 2.1% in the fourth quarter. IHT Wealth Management LLC now owns 110,074 shares of the financial services provider’s stock valued at $2,391,000 after buying an additional 2,265 shares in the last quarter. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Sixth Street Specialty Lending Company Profile

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.