Sixth Street Specialty Lending (NYSE:TSLX) Price Target Cut to $23.00 by Analysts at Keefe, Bruyette & Woods

Sixth Street Specialty Lending (NYSE:TSLX) had its target price trimmed by Keefe, Bruyette & Woods from $24.00 to $23.00 in a research report released on Thursday,Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

Other equities analysts also recently issued research reports about the company. JMP Securities increased their price target on Sixth Street Specialty Lending from $24.00 to $25.00 and gave the company a “market outperform” rating in a report on Wednesday, August 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Sixth Street Specialty Lending in a research note on Wednesday, October 8th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $24.00 target price on shares of Sixth Street Specialty Lending in a report on Wednesday, October 1st. Finally, Wells Fargo & Company upped their price target on shares of Sixth Street Specialty Lending from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $23.63.

Sixth Street Specialty Lending Price Performance

NYSE TSLX opened at $21.12 on Thursday. Sixth Street Specialty Lending has a fifty-two week low of $18.58 and a fifty-two week high of $25.17. The stock’s 50-day moving average is $22.85 and its two-hundred day moving average is $23.07. The company has a debt-to-equity ratio of 1.07, a current ratio of 3.79 and a quick ratio of 3.79. The firm has a market cap of $1.99 billion, a P/E ratio of 10.51 and a beta of 0.84.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.01. The company had revenue of $109.40 million during the quarter, compared to the consensus estimate of $108.35 million. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 39.56%.During the same quarter in the prior year, the company posted $0.57 EPS. On average, analysts anticipate that Sixth Street Specialty Lending will post 2.19 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.12 dividend on an annualized basis and a yield of 0.6%. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is 90.20%.

Hedge Funds Weigh In On Sixth Street Specialty Lending

Large investors have recently added to or reduced their stakes in the company. Round Rock Advisors LLC grew its holdings in shares of Sixth Street Specialty Lending by 226.7% during the 1st quarter. Round Rock Advisors LLC now owns 274,483 shares of the financial services provider’s stock worth $6,143,000 after purchasing an additional 190,469 shares in the last quarter. Dakota Wealth Management bought a new position in Sixth Street Specialty Lending in the first quarter worth $811,000. Muzinich & Co. Inc. lifted its position in Sixth Street Specialty Lending by 14.7% in the first quarter. Muzinich & Co. Inc. now owns 450,142 shares of the financial services provider’s stock worth $10,074,000 after purchasing an additional 57,724 shares during the period. Ignite Planners LLC boosted its stake in Sixth Street Specialty Lending by 4.5% during the first quarter. Ignite Planners LLC now owns 46,349 shares of the financial services provider’s stock worth $953,000 after buying an additional 1,987 shares in the last quarter. Finally, Principle Wealth Partners LLC bought a new stake in Sixth Street Specialty Lending in the 1st quarter valued at $294,000. Institutional investors and hedge funds own 70.25% of the company’s stock.

Sixth Street Specialty Lending Company Profile

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.