Sixth Street Specialty Lending (NYSE:TSLX) Hits New 12-Month Low Following Analyst Downgrade

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) shares reached a new 52-week low during mid-day trading on Monday after Weiss Ratings downgraded the stock from a buy (b-) rating to a hold (c+) rating. The stock traded as low as $17.91 and last traded at $17.9830, with a volume of 416912 shares traded. The stock had previously closed at $18.19.

Other equities analysts have also issued reports about the stock. Keefe, Bruyette & Woods decreased their target price on shares of Sixth Street Specialty Lending from $23.00 to $22.00 and set an “outperform” rating on the stock in a report on Tuesday, February 17th. Truist Financial lowered their price objective on shares of Sixth Street Specialty Lending from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Tuesday, February 17th. Wells Fargo & Company cut their target price on Sixth Street Specialty Lending from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Tuesday, February 17th. Citizens Jmp reiterated a “market outperform” rating and issued a $25.00 price target on shares of Sixth Street Specialty Lending in a research note on Wednesday, February 18th. Finally, Royal Bank Of Canada dropped their price objective on Sixth Street Specialty Lending from $24.00 to $22.00 and set an “outperform” rating for the company in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $22.25.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Institutional investors and hedge funds have recently made changes to their positions in the stock. Harbor Investment Advisory LLC raised its position in shares of Sixth Street Specialty Lending by 673.2% during the fourth quarter. Harbor Investment Advisory LLC now owns 1,732 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 1,508 shares during the last quarter. MTM Investment Management LLC bought a new position in Sixth Street Specialty Lending during the 2nd quarter worth approximately $49,000. Advisory Services Network LLC acquired a new position in shares of Sixth Street Specialty Lending in the 3rd quarter worth approximately $75,000. Redmont Wealth Advisors LLC bought a new stake in shares of Sixth Street Specialty Lending in the 3rd quarter valued at $79,000. Finally, First Horizon Advisors Inc. increased its position in shares of Sixth Street Specialty Lending by 74.0% during the second quarter. First Horizon Advisors Inc. now owns 4,123 shares of the financial services provider’s stock worth $98,000 after buying an additional 1,753 shares during the period. Institutional investors and hedge funds own 70.25% of the company’s stock.

Sixth Street Specialty Lending Stock Performance

The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 9.92 and a beta of 0.70. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.83 and a quick ratio of 2.83. The company’s 50-day moving average price is $21.26 and its two-hundred day moving average price is $22.22.

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

Sixth Street Specialty Lending Cuts Dividend

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

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.