Sixth Street Specialty Lending (NYSE:TSLX) Hits New 1-Year Low – Here’s Why

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. LADENBURG THALM/SH SH cut Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a research note on Friday, February 14th. Keefe, Bruyette & Woods lifted their target price on shares of Sixth Street Specialty Lending from $21.50 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. increased their price target on shares of Sixth Street Specialty Lending from $22.50 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Wells Fargo & Company boosted their price objective on shares of Sixth Street Specialty Lending from $21.00 to $23.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Finally, Truist Financial increased their target price on shares of Sixth Street Specialty Lending from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $23.17.

Sixth Street Specialty Lending Trading Up 6.6 %

The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market capitalization of $1.91 billion, a PE ratio of 10.06 and a beta of 0.88. The stock’s 50-day simple moving average is $22.31 and its 200-day simple moving average is $21.40.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.04. Sixth Street Specialty Lending had a net margin of 38.67% and a return on equity of 13.47%. The company had revenue of $123.70 million for the quarter, compared to analysts’ expectations of $120.07 million. As a group, sell-side analysts expect that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The company also recently announced a dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 3rd were given a $0.07 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a dividend yield of 6.99%. This is a positive change from Sixth Street Specialty Lending’s previous dividend of $0.05. Sixth Street Specialty Lending’s dividend payout ratio is currently 90.64%.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Hedge funds have recently made changes to their positions in the company. HighTower Advisors LLC lifted its position in Sixth Street Specialty Lending by 22.6% during the third quarter. HighTower Advisors LLC now owns 41,509 shares of the financial services provider’s stock valued at $855,000 after buying an additional 7,652 shares during the period. Stifel Financial Corp lifted its position in Sixth Street Specialty Lending by 5.3% during the 3rd quarter. Stifel Financial Corp now owns 550,995 shares of the financial services provider’s stock valued at $11,312,000 after acquiring an additional 27,960 shares during the period. Jane Street Group LLC boosted its stake in Sixth Street Specialty Lending by 29.1% during the third quarter. Jane Street Group LLC now owns 49,373 shares of the financial services provider’s stock worth $1,014,000 after acquiring an additional 11,117 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Sixth Street Specialty Lending in the third quarter worth about $708,000. Finally, Sanctuary Advisors LLC increased its stake in shares of Sixth Street Specialty Lending by 6.3% during the third quarter. Sanctuary Advisors LLC now owns 24,168 shares of the financial services provider’s stock valued at $502,000 after purchasing an additional 1,441 shares in the last quarter. 70.25% of the stock is currently owned by 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.