Sixth Street Specialty Lending (NYSE:TSLX) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Sixth Street Specialty Lending (NYSE:TSLX) from a hold rating to a sell rating in a research note issued to investors on Saturday.

Other equities research analysts have also recently issued research reports about the stock. Wells Fargo & Company dropped their target price on shares of Sixth Street Specialty Lending from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Tuesday, February 17th. Royal Bank Of Canada lowered their price target on Sixth Street Specialty Lending from $24.00 to $22.00 and set an “outperform” rating on the stock in a report on Friday, February 20th. Keefe, Bruyette & Woods dropped their price target on Sixth Street Specialty Lending from $23.00 to $22.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 17th. Truist Financial cut their price objective on Sixth Street Specialty Lending from $24.00 to $22.00 and set a “buy” rating for the company in a report on Tuesday, February 17th. Finally, Citizens Jmp reiterated a “market outperform” rating and set a $25.00 price objective on shares of Sixth Street Specialty Lending in a research report on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Sixth Street Specialty Lending has an average rating of “Moderate Buy” and a consensus price target of $22.25.

Sixth Street Specialty Lending Stock Performance

Shares of NYSE TSLX opened at $18.33 on Friday. The firm’s 50-day moving average price is $20.56 and its 200-day moving average price is $21.81. 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 cap of $1.74 billion, a PE ratio of 10.13 and a beta of 0.73. Sixth Street Specialty Lending has a 52-week low of $16.99 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 $0.30 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.20). The company had revenue of $108.25 million for the quarter, compared to analysts’ expectations of $107.11 million. Sixth Street Specialty Lending had a net margin of 37.99% and a return on equity of 12.71%. During the same period in the previous year, the firm earned $0.61 earnings per share. As a group, analysts anticipate that Sixth Street Specialty Lending will post 2.19 EPS for the current year.

Sixth Street Specialty Lending Cuts Dividend

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

Institutional Trading of Sixth Street Specialty Lending

Institutional investors have recently made changes to their positions in the business. Royal Bank of Canada raised its stake in Sixth Street Specialty Lending by 8.0% during the 1st quarter. Royal Bank of Canada now owns 124,241 shares of the financial services provider’s stock valued at $2,780,000 after purchasing an additional 9,230 shares during the period. Integrated Wealth Concepts LLC boosted its stake in Sixth Street Specialty Lending by 38.5% in the 1st quarter. Integrated Wealth Concepts LLC now owns 16,539 shares of the financial services provider’s stock worth $370,000 after purchasing an additional 4,597 shares during the period. Envestnet Asset Management Inc. grew its holdings in Sixth Street Specialty Lending by 8.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 538,400 shares of the financial services provider’s stock valued at $12,819,000 after buying an additional 43,701 shares in the last quarter. Bank of Montreal Can purchased a new stake in Sixth Street Specialty Lending during the 2nd quarter valued at approximately $7,719,000. Finally, First Horizon Advisors Inc. raised its position in shares of Sixth Street Specialty Lending by 74.0% during the second quarter. First Horizon Advisors Inc. now owns 4,123 shares of the financial services provider’s stock valued at $98,000 after buying an additional 1,753 shares during 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.