Sixth Street Specialty Lending (NYSE:TSLX) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Sixth Street Specialty Lending (NYSE:TSLX) from a sell rating to a hold rating in a report published on Saturday.

Several other research firms have also recently weighed in on TSLX. Weiss Ratings cut Sixth Street Specialty Lending from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 18th. Truist Financial decreased their price objective on Sixth Street Specialty Lending from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Citizens Jmp cut their target price on shares of Sixth Street Specialty Lending from $25.00 to $24.00 and set a “market outperform” rating for the company in a report on Wednesday, April 22nd. JPMorgan Chase & Co. reduced their price target on shares of Sixth Street Specialty Lending from $17.50 to $16.50 and set a “neutral” rating on the stock in a research report on Thursday, July 2nd. Finally, Zacks Research raised shares of Sixth Street Specialty Lending from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 7th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.67.

Sixth Street Specialty Lending Stock Up 2.2%

TSLX opened at $19.10 on Friday. The company has a market capitalization of $1.81 billion, a PE ratio of 20.10 and a beta of 0.59. The firm has a 50-day simple moving average of $17.20 and a two-hundred day simple moving average of $18.27. The company has a quick ratio of 3.39, a current ratio of 9.83 and a debt-to-equity ratio of 1.24. Sixth Street Specialty Lending has a 52 week low of $16.04 and a 52 week high of $24.79.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its earnings results on Tuesday, August 4th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.01. The firm had revenue of $97.84 million for the quarter, compared to analysts’ expectations of $95.28 million. Sixth Street Specialty Lending had a return on equity of 11.33% and a net margin of 21.79%.During the same period in the previous year, the firm posted $0.56 earnings per share. Analysts forecast that Sixth Street Specialty Lending will post 1.72 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 8.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is presently 176.84%.

Insider Activity at Sixth Street Specialty Lending

In related news, VP Ross Anthony Bruck bought 8,000 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were purchased at an average price of $17.76 per share, with a total value of $142,080.00. Following the transaction, the vice president owned 18,250 shares in the company, valued at $324,120. This trade represents a 78.05% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.83% of the company’s stock.

Institutional Trading of Sixth Street Specialty Lending

Institutional investors have recently bought and sold shares of the stock. Fifth Third Bancorp bought a new position in Sixth Street Specialty Lending during the first quarter valued at $63,000. Advisory Services Network LLC purchased a new position in shares of Sixth Street Specialty Lending during the 3rd quarter worth about $75,000. Redmont Wealth Advisors LLC boosted its stake in shares of Sixth Street Specialty Lending by 37.8% during the 4th quarter. Redmont Wealth Advisors LLC now owns 4,776 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 1,310 shares during the period. SG Americas Securities LLC bought a new position in Sixth Street Specialty Lending during the 4th quarter valued at about $108,000. Finally, Arax Advisory Partners bought a new position in Sixth Street Specialty Lending during the 4th quarter valued at about $109,000. 70.25% of the stock is currently owned by institutional investors.

About Sixth Street Specialty Lending

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.