Sixth Street Specialty Lending (NYSE:TSLX) Price Target Lowered to $21.50 at Keefe, Bruyette & Woods

Sixth Street Specialty Lending (NYSE:TSLX) had its price objective decreased by Keefe, Bruyette & Woods from $23.00 to $21.50 in a research note published on Thursday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider’s stock.

A number of other brokerages have also recently weighed in on TSLX. Wells Fargo & Company reduced their target price on shares of Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Royal Bank of Canada reissued an “outperform” rating and set a $23.00 price objective on shares of Sixth Street Specialty Lending in a research note on Thursday, August 15th. Finally, LADENBURG THALM/SH SH raised Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Wednesday. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $22.00.

Sixth Street Specialty Lending Price Performance

NYSE TSLX traded up $0.50 on Thursday, reaching $20.29. 494,648 shares of the stock traded hands, compared to its average volume of 350,948. Sixth Street Specialty Lending has a 12 month low of $19.50 and a 12 month high of $22.35. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 9.80 and a beta of 1.06. The firm’s fifty day simple moving average is $20.66 and its 200 day simple moving average is $21.07. The company has a quick ratio of 1.90, a current ratio of 2.50 and a debt-to-equity ratio of 1.17.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. Sixth Street Specialty Lending had a return on equity of 13.55% and a net margin of 39.05%. The business had revenue of $119.22 million during the quarter, compared to analysts’ expectations of $119.85 million. During the same quarter last year, the business posted $0.60 earnings per share. As a group, research analysts predict that Sixth Street Specialty Lending will post 2.31 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The firm also recently disclosed a — dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 29th will be paid a $0.05 dividend. This represents a yield of 9.1%. The ex-dividend date is Friday, November 29th. Sixth Street Specialty Lending’s dividend payout ratio is currently 89.32%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TSLX. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Sixth Street Specialty Lending by 3.2% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 310,322 shares of the financial services provider’s stock valued at $6,650,000 after acquiring an additional 9,510 shares in the last quarter. LSV Asset Management grew its stake in Sixth Street Specialty Lending by 7.3% in the first quarter. LSV Asset Management now owns 1,215,312 shares of the financial services provider’s stock valued at $26,044,000 after purchasing an additional 82,398 shares in the last quarter. SG Americas Securities LLC acquired a new position in Sixth Street Specialty Lending in the 1st quarter worth about $552,000. Allen Investment Management LLC raised its stake in shares of Sixth Street Specialty Lending by 18.3% during the 1st quarter. Allen Investment Management LLC now owns 616,979 shares of the financial services provider’s stock worth $13,222,000 after purchasing an additional 95,410 shares in the last quarter. Finally, Significant Wealth Partners LLC lifted its holdings in shares of Sixth Street Specialty Lending by 949.8% during the 1st quarter. Significant Wealth Partners LLC now owns 202,899 shares of the financial services provider’s stock valued at $4,348,000 after buying an additional 183,571 shares during the last quarter. 70.25% of the stock is owned by hedge funds and other institutional investors.

About Sixth Street Specialty Lending

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.