Sixth Street Specialty Lending (NYSE:TSLX) Upgraded to Hold by StockNews.com

StockNews.com upgraded shares of Sixth Street Specialty Lending (NYSE:TSLXGet Rating) from a sell rating to a hold rating in a research report released on Thursday.

Several other equities analysts have also commented on TSLX. TheStreet lowered shares of Sixth Street Specialty Lending from a b- rating to a c rating in a report on Thursday, August 11th. Raymond James decreased their price objective on shares of Sixth Street Specialty Lending from $25.00 to $22.00 and set an outperform rating on the stock in a report on Thursday, August 4th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Sixth Street Specialty Lending has a consensus rating of Moderate Buy and an average price target of $23.38.

Sixth Street Specialty Lending Stock Performance

NYSE:TSLX opened at $17.09 on Thursday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 10.48 and a beta of 1.05. The company’s 50-day moving average is $18.84 and its two-hundred day moving average is $20.42. Sixth Street Specialty Lending has a 1-year low of $17.08 and a 1-year high of $24.74.

Sixth Street Specialty Lending (NYSE:TSLXGet Rating) last issued its quarterly earnings data on Tuesday, August 2nd. The financial services provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. Sixth Street Specialty Lending had a net margin of 44.20% and a return on equity of 12.98%. The firm had revenue of $63.89 million for the quarter, compared to analyst estimates of $69.95 million. Analysts forecast that Sixth Street Specialty Lending will post 1.95 EPS for the current year.

Sixth Street Specialty Lending Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This is a positive change from Sixth Street Specialty Lending’s previous quarterly dividend of $0.41. This represents a $1.68 dividend on an annualized basis and a yield of 9.83%. Sixth Street Specialty Lending’s dividend payout ratio is 103.07%.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Hedge funds have recently added to or reduced their stakes in the business. Callodine Capital Management LP lifted its holdings in Sixth Street Specialty Lending by 19.5% during the 4th quarter. Callodine Capital Management LP now owns 495,000 shares of the financial services provider’s stock worth $11,578,000 after buying an additional 80,771 shares in the last quarter. Ilmarinen Mutual Pension Insurance Co purchased a new stake in shares of Sixth Street Specialty Lending in the 1st quarter valued at approximately $533,000. HighTower Advisors LLC increased its position in shares of Sixth Street Specialty Lending by 25.3% in the 4th quarter. HighTower Advisors LLC now owns 19,201 shares of the financial services provider’s stock valued at $448,000 after purchasing an additional 3,871 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Sixth Street Specialty Lending by 0.8% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 284,297 shares of the financial services provider’s stock valued at $6,621,000 after purchasing an additional 2,269 shares during the last quarter. Finally, Belpointe Asset Management LLC increased its position in shares of Sixth Street Specialty Lending by 165.9% in the 1st quarter. Belpointe Asset Management LLC now owns 353,216 shares of the financial services provider’s stock valued at $8,227,000 after purchasing an additional 220,391 shares during the last quarter. 43.63% of the stock is currently owned by institutional investors and hedge funds.

Sixth Street Specialty Lending Company Profile

(Get Rating)

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.

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