Sixth Street Specialty Lending (NYSE:TSLX) Given New $23.00 Price Target at Keefe, Bruyette & Woods

Sixth Street Specialty Lending (NYSE:TSLX) had its price objective reduced by Keefe, Bruyette & Woods from $23.50 to $23.00 in a research report sent to investors on Monday, Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider’s stock.

TSLX has been the topic of a number of other research reports. Wells Fargo & Company increased their price objective on shares of Sixth Street Specialty Lending from $21.00 to $22.50 and gave the stock an overweight rating in a research report on Monday, January 29th. Truist Financial increased their target price on Sixth Street Specialty Lending from $22.00 to $23.00 and gave the stock a buy rating in a report on Tuesday, February 20th. Royal Bank of Canada lifted their price target on shares of Sixth Street Specialty Lending from $22.00 to $23.00 and gave the company an outperform rating in a research report on Friday, February 23rd. Finally, JMP Securities restated a market outperform rating and set a $22.50 price objective on shares of Sixth Street Specialty Lending in a report on Tuesday, March 26th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $22.67.

Sixth Street Specialty Lending Stock Performance

Shares of Sixth Street Specialty Lending stock opened at $21.04 on Monday. The company has a market cap of $1.95 billion, a P/E ratio of 8.48 and a beta of 1.03. The business has a 50-day moving average price of $21.10 and a two-hundred day moving average price of $21.14. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 1.14. Sixth Street Specialty Lending has a 1-year low of $17.31 and a 1-year high of $22.35.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings data on Friday, February 16th. The financial services provider reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.04. The company had revenue of $119.50 million during the quarter, compared to analyst estimates of $115.18 million. Sixth Street Specialty Lending had a net margin of 47.16% and a return on equity of 13.74%. During the same quarter in the previous year, the business posted $0.65 EPS. As a group, analysts anticipate that Sixth Street Specialty Lending will post 2.35 EPS for the current year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, May 31st will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.24 annualized dividend and a dividend yield of 1.14%. Sixth Street Specialty Lending’s payout ratio is 74.19%.

Hedge Funds Weigh In On Sixth Street Specialty Lending

Several hedge funds have recently modified their holdings of the company. Melia Wealth LLC purchased a new position in Sixth Street Specialty Lending in the fourth quarter worth $15,144,000. MGO One Seven LLC boosted its holdings in shares of Sixth Street Specialty Lending by 3,380.9% in the 4th quarter. MGO One Seven LLC now owns 553,876 shares of the financial services provider’s stock worth $11,964,000 after buying an additional 537,964 shares during the last quarter. Allen Investment Management LLC grew its position in Sixth Street Specialty Lending by 956.1% during the third quarter. Allen Investment Management LLC now owns 340,760 shares of the financial services provider’s stock valued at $6,965,000 after buying an additional 308,493 shares during the period. Benjamin F. Edwards & Company Inc. increased its holdings in Sixth Street Specialty Lending by 103,655.6% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 294,666 shares of the financial services provider’s stock worth $6,365,000 after buying an additional 294,382 shares during the last quarter. Finally, Confluence Investment Management LLC bought a new stake in Sixth Street Specialty Lending in the first quarter worth about $5,212,000. Institutional investors own 70.25% of the company’s stock.

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.