Sixth Street Specialty Lending (NYSE:TSLX) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Sixth Street Specialty Lending (NYSE:TSLX) announced its quarterly earnings data on Tuesday. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.01, FiscalAI reports. Sixth Street Specialty Lending had a net margin of 25.25% and a return on equity of 11.92%. The company had revenue of $97.84 million for the quarter, compared to analysts’ expectations of $95.28 million. During the same quarter in the previous year, the company posted $0.56 EPS.

Sixth Street Specialty Lending Stock Performance

Sixth Street Specialty Lending stock opened at $18.01 on Wednesday. Sixth Street Specialty Lending has a fifty-two week low of $16.04 and a fifty-two week high of $24.79. The firm’s 50 day simple moving average is $17.12 and its 200-day simple moving average is $18.32. The company has a debt-to-equity ratio of 1.17, a current ratio of 3.39 and a quick ratio of 3.39. The company has a market cap of $1.71 billion, a P/E ratio of 15.66 and a beta of 0.59.

Sixth Street Specialty Lending Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TSLX shares. Wells Fargo & Company reduced their target price on shares of Sixth Street Specialty Lending from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Truist Financial cut their price objective on Sixth Street Specialty Lending from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. JPMorgan Chase & Co. reduced their price objective on Sixth Street Specialty Lending from $17.50 to $16.50 and set a “neutral” rating for the company in a research note on Thursday, July 2nd. Keefe, Bruyette & Woods decreased their target price on Sixth Street Specialty Lending from $21.00 to $18.50 and set an “outperform” rating on the stock in a report on Thursday, May 7th. Finally, Royal Bank Of Canada decreased their target price on Sixth Street Specialty Lending from $22.00 to $20.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.67.

Insider Activity at Sixth Street Specialty Lending

In other news, VP Ross Anthony Bruck purchased 8,000 shares of Sixth Street Specialty Lending stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average price of $17.76 per share, for a total transaction of $142,080.00. Following the transaction, the vice president owned 18,250 shares in the company, valued at $324,120. The trade was a 78.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 3.83% of the company’s stock.

Institutional Trading of Sixth Street Specialty Lending

Several large investors have recently added to or reduced their stakes in TSLX. Progeny 3 Inc. boosted its position in shares of Sixth Street Specialty Lending by 1.0% in the second quarter. Progeny 3 Inc. now owns 2,476,398 shares of the financial services provider’s stock worth $58,963,000 after buying an additional 23,451 shares during the period. Bank of Montreal Can raised its position 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 period. UBS Group AG raised its position in Sixth Street Specialty Lending by 11.0% during the third quarter. UBS Group AG now owns 1,316,597 shares of the financial services provider’s stock valued at $30,097,000 after buying an additional 130,586 shares during the period. Wells Fargo & Company MN lifted its stake in 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 acquiring an additional 45,870 shares in the last quarter. Finally, Callodine Capital Management LP lifted its stake in Sixth Street Specialty Lending by 26.5% in the 4th quarter. Callodine Capital Management LP now owns 1,101,992 shares of the financial services provider’s stock worth $23,935,000 after acquiring an additional 230,559 shares in the last quarter. 70.25% of the stock is owned by institutional investors and hedge funds.

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.