Sixth Street Specialty Lending (NYSE:TSLX) Price Target Lowered to $22.00 at Royal Bank Of Canada

Sixth Street Specialty Lending (NYSE:TSLX) had its price objective lowered by Royal Bank Of Canada from $24.00 to $22.00 in a research report released on Friday morning,Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

Several other equities analysts have also issued reports on TSLX. JPMorgan Chase & Co. dropped their price objective on Sixth Street Specialty Lending from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday. Keefe, Bruyette & Woods decreased 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 report on Tuesday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Sixth Street Specialty Lending in a research report on Wednesday, December 24th. Wells Fargo & Company reduced their price objective 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. Finally, Citizens Jmp reissued a “market outperform” rating and issued a $25.00 price objective on shares of Sixth Street Specialty Lending in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $22.25.

Sixth Street Specialty Lending Stock Performance

Shares of TSLX opened at $18.17 on Friday. The stock has a 50 day moving average price of $21.26 and a 200 day moving average price of $22.24. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 10.04 and a beta of 0.70. Sixth Street Specialty Lending has a 52-week low of $18.07 and a 52-week high of $25.17.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings data on Thursday, February 12th. The financial services provider reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. Sixth Street Specialty Lending had a net margin of 37.99% and a return on equity of 12.71%. The company had revenue of $108.25 million for the quarter, compared to analysts’ expectations of $107.11 million. During the same quarter last year, the company earned $0.61 earnings per share. Research analysts predict that Sixth Street Specialty Lending will post 2.19 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Monday, March 16th. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is presently 101.66%.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Several large investors have recently modified their holdings of TSLX. Van ECK Associates Corp grew its position in Sixth Street Specialty Lending by 18.0% in the 3rd quarter. Van ECK Associates Corp now owns 2,529,187 shares of the financial services provider’s stock valued at $57,817,000 after buying an additional 385,398 shares during the last quarter. Sound Income Strategies LLC boosted its holdings in shares of Sixth Street Specialty Lending by 4.5% in the fourth quarter. Sound Income Strategies LLC now owns 2,511,115 shares of the financial services provider’s stock valued at $55,998,000 after acquiring an additional 108,708 shares in the last quarter. Progeny 3 Inc. increased its stake in shares of 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 worth $58,963,000 after acquiring an additional 23,451 shares during the period. Burgundy Asset Management Ltd. increased its stake in shares of Sixth Street Specialty Lending by 1.4% during the second quarter. Burgundy Asset Management Ltd. now owns 2,378,968 shares of the financial services provider’s stock worth $56,643,000 after acquiring an additional 31,922 shares during the period. Finally, Bank of Montreal Can raised 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 worth $49,628,000 after purchasing an additional 1,845,088 shares in the last quarter. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Sixth Street Specialty Lending Company Profile

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.