Sixth Street Specialty Lending (NYSE:TSLX) Reaches New 12-Month Low – Here’s What Happened

Sixth Street Specialty Lending, Inc. (NYSE:TSLX)’s share price reached a new 52-week low on Monday . The stock traded as low as $16.99 and last traded at $17.5170, with a volume of 369447 shares changing hands. The stock had previously closed at $17.32.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Wells Fargo & Company dropped 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, February 17th. Truist Financial dropped their price target on Sixth Street Specialty Lending from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Tuesday, February 17th. Citizens Jmp reaffirmed a “market outperform” rating and set a $25.00 price objective on shares of Sixth Street Specialty Lending in a research report on Wednesday, February 18th. Keefe, Bruyette & Woods dropped their target price on 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. Finally, Weiss Ratings lowered shares of Sixth Street Specialty Lending from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.25.

Sixth Street Specialty Lending Trading Up 1.9%

The stock has a market capitalization of $1.67 billion, a PE ratio of 9.75 and a beta of 0.70. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 1.08. The business’s fifty day moving average is $20.89 and its 200-day moving average is $22.00.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its earnings results on Thursday, February 12th. The financial services provider reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.20). The business had revenue of $108.25 million for the quarter, compared to analyst estimates of $107.11 million. Sixth Street Specialty Lending had a net margin of 37.99% and a return on equity of 12.71%. During the same quarter in the previous year, the firm posted $0.61 EPS. As a group, 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 announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be issued 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 (DPR) is currently 101.66%.

Institutional Trading of Sixth Street Specialty Lending

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

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.