Sixth Street Specialty Lending (NYSE:TSLX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Sixth Street Specialty Lending (NYSE:TSLX) from a sell rating to a hold rating in a research report released on Saturday morning.

A number of other research analysts have also recently commented on TSLX. Citizens Jmp restated a “market outperform” rating and issued a $25.00 target price on shares of Sixth Street Specialty Lending in a research note on Wednesday, February 18th. Wells Fargo & Company lowered 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. Truist Financial lowered 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 note on Tuesday, February 17th. JPMorgan Chase & Co. lowered their target price on Sixth Street Specialty Lending from $21.00 to $18.50 and set a “neutral” rating for the company in a research note on Friday, March 13th. Finally, Keefe, Bruyette & Woods lowered their target price on Sixth Street Specialty Lending from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Tuesday, February 17th. One investment 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.94.

Sixth Street Specialty Lending Trading Up 0.9%

NYSE TSLX opened at $18.56 on Friday. Sixth Street Specialty Lending has a fifty-two week low of $16.99 and a fifty-two week high of $25.17. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.83 and a current ratio of 2.83. The stock has a 50 day simple moving average of $18.93 and a two-hundred day simple moving average of $20.88. The stock has a market cap of $1.76 billion, a P/E ratio of 10.25 and a beta of 0.66.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings data 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). Sixth Street Specialty Lending had a return on equity of 12.71% and a net margin of 37.99%.The business had revenue of $108.25 million during the quarter, compared to analysts’ expectations of $107.11 million. During the same quarter last year, the business posted $0.61 EPS. On average, analysts forecast that Sixth Street Specialty Lending will post 2.19 earnings per share for the current year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Monday, March 16th. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is presently 101.66%.

Insider Activity at Sixth Street Specialty Lending

In related news, VP Alan Waxman acquired 200,000 shares of Sixth Street Specialty Lending stock in a transaction that occurred on Monday, March 9th. The stock was bought at an average price of $18.18 per share, with a total value of $3,636,000.00. Following the transaction, the vice president directly owned 500,000 shares in the company, valued at approximately $9,090,000. This represents a 66.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders purchased 545,000 shares of company stock valued at $9,997,150. Company insiders own 3.22% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TSLX. Royal Bank of Canada increased its position in Sixth Street Specialty Lending by 8.0% during the 1st quarter. Royal Bank of Canada now owns 124,241 shares of the financial services provider’s stock valued at $2,780,000 after buying an additional 9,230 shares in the last quarter. Integrated Wealth Concepts LLC increased its position in Sixth Street Specialty Lending by 38.5% during the 1st quarter. Integrated Wealth Concepts LLC now owns 16,539 shares of the financial services provider’s stock valued at $370,000 after buying an additional 4,597 shares in the last quarter. Beacon Pointe Advisors LLC increased its position in Sixth Street Specialty Lending by 58.5% during the 2nd quarter. Beacon Pointe Advisors LLC now owns 49,612 shares of the financial services provider’s stock valued at $1,181,000 after buying an additional 18,309 shares in the last quarter. Invesco Ltd. increased its position in Sixth Street Specialty Lending by 8.0% during the 2nd quarter. Invesco Ltd. now owns 30,628 shares of the financial services provider’s stock valued at $729,000 after buying an additional 2,263 shares in the last quarter. Finally, Marshall Wace LLP increased its position in Sixth Street Specialty Lending by 186.6% during the 2nd quarter. Marshall Wace LLP now owns 75,811 shares of the financial services provider’s stock valued at $1,805,000 after buying an additional 49,362 shares in the last quarter. Institutional investors own 70.25% of the company’s stock.

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.