Sixth Street Specialty Lending (NYSE:TSLX) Issues Quarterly Earnings Results

Sixth Street Specialty Lending (NYSE:TSLX) released its quarterly earnings data on Tuesday. The financial services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.42 by $0.01, FiscalAI reports. The firm had revenue of $97.84 million during the quarter, compared to the consensus estimate of $95.28 million. Sixth Street Specialty Lending had a return on equity of 11.25% and a net margin of 21.79%.During the same quarter in the previous year, the company posted $0.56 earnings per share.

Sixth Street Specialty Lending Trading Up 0.7%

NYSE TSLX opened at $18.13 on Thursday. The stock’s fifty day moving average price is $17.13 and its 200-day moving average price is $18.29. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 1.17. The stock has a market cap of $1.72 billion, a P/E ratio of 19.09 and a beta of 0.59. Sixth Street Specialty Lending has a 12 month low of $16.04 and a 12 month high of $24.79.

Sixth Street Specialty Lending Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 9.3%. The ex-dividend date of this dividend is Tuesday, September 15th. Sixth Street Specialty Lending’s payout ratio is 146.09%.

Insiders Place Their Bets

In other news, VP Ross Anthony Bruck bought 8,000 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was acquired at an average cost of $17.76 per share, with a total value of $142,080.00. Following the completion of the acquisition, the vice president owned 18,250 shares of the company’s stock, valued at approximately $324,120. This represents a 78.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.83% of the company’s stock.

Institutional Investors Weigh In On Sixth Street Specialty Lending

A number of large investors have recently added to or reduced their stakes in the stock. Progeny 3 Inc. increased its position in Sixth Street Specialty Lending by 1.0% during the second quarter. Progeny 3 Inc. now owns 2,476,398 shares of the financial services provider’s stock valued at $58,963,000 after acquiring an additional 23,451 shares during the last quarter. Bank of Montreal Can increased its holdings in Sixth Street Specialty Lending by 419.5% during the fourth quarter. Bank of Montreal Can now owns 2,284,920 shares of the financial services provider’s stock valued at $49,628,000 after buying an additional 1,845,088 shares during the last quarter. UBS Group AG boosted its stake in shares of Sixth Street Specialty Lending by 11.0% during the 3rd quarter. UBS Group AG now owns 1,316,597 shares of the financial services provider’s stock worth $30,097,000 after acquiring an additional 130,586 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Sixth Street Specialty Lending by 3.7% in the 4th quarter. Wells Fargo & Company MN now owns 1,270,816 shares of the financial services provider’s stock worth $27,602,000 after purchasing an additional 45,870 shares in the last quarter. Finally, Callodine Capital Management LP grew its holdings in Sixth Street Specialty Lending by 26.5% during the fourth quarter. Callodine Capital Management LP now owns 1,101,992 shares of the financial services provider’s stock valued at $23,935,000 after purchasing an additional 230,559 shares during the period. Institutional investors own 70.25% of the company’s stock.

Analyst Upgrades and Downgrades

TSLX has been the topic of a number of recent research reports. Royal Bank Of Canada reduced their price objective on Sixth Street Specialty Lending from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Wall Street Zen cut Sixth Street Specialty Lending from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Citizens Jmp lowered their price objective on Sixth Street Specialty Lending from $25.00 to $24.00 and set a “market outperform” rating for the company in a research report on Wednesday, April 22nd. Zacks Research raised Sixth Street Specialty Lending from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 7th. Finally, Wells Fargo & Company cut their target price on shares of Sixth Street Specialty Lending from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Sixth Street Specialty Lending currently has an average rating of “Moderate Buy” and a consensus price target of $19.67.

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.