Sixth Street Specialty Lending (NYSE:TSLX) Sets New 1-Year Low – Here’s What Happened

Sixth Street Specialty Lending, Inc. (NYSE:TSLX)’s stock price hit a new 52-week low on Monday . The stock traded as low as $18.91 and last traded at $19.41, with a volume of 590167 shares trading hands. The stock had previously closed at $20.34.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TSLX. Keefe, Bruyette & Woods boosted their price target on shares of Sixth Street Specialty Lending from $21.50 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Wells Fargo & Company lifted their target price on shares of Sixth Street Specialty Lending from $21.00 to $23.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. LADENBURG THALM/SH SH downgraded Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a research note on Friday, February 14th. Royal Bank of Canada raised their price objective on shares of Sixth Street Specialty Lending from $23.00 to $25.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Finally, Truist Financial boosted their price objective on shares of Sixth Street Specialty Lending from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.17.

Sixth Street Specialty Lending Stock Up 6.6 %

The company has a fifty day moving average price of $22.31 and a 200 day moving average price of $21.40. The company has a market cap of $1.91 billion, a PE ratio of 10.06 and a beta of 0.88. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.90 and a quick ratio of 1.90.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The business had revenue of $123.70 million during the quarter, compared to analysts’ expectations of $120.07 million. Sixth Street Specialty Lending had a net margin of 38.67% and a return on equity of 13.47%. As a group, analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current year.

Sixth Street Specialty Lending Increases Dividend

The company also recently declared a dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 3rd were given a dividend of $0.07 per share. This is an increase from Sixth Street Specialty Lending’s previous dividend of $0.05. The ex-dividend date was Friday, February 28th. This represents a yield of 6.99%. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is presently 90.64%.

Hedge Funds Weigh In On Sixth Street Specialty Lending

Hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in shares of Sixth Street Specialty Lending during the 4th quarter valued at about $17,488,000. Columbus Macro LLC bought a new position in Sixth Street Specialty Lending during the fourth quarter valued at approximately $7,669,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Sixth Street Specialty Lending in the 4th quarter worth approximately $4,156,000. Parkwood LLC purchased a new stake in shares of Sixth Street Specialty Lending in the 4th quarter valued at $3,937,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Sixth Street Specialty Lending by 16.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,175,388 shares of the financial services provider’s stock valued at $24,131,000 after purchasing an additional 162,810 shares during the last quarter. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

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.