Keefe, Bruyette & Woods Issues Pessimistic Forecast for Sixth Street Specialty Lending (NYSE:TSLX) Stock Price

Sixth Street Specialty Lending (NYSE:TSLX) had its price target trimmed by Keefe, Bruyette & Woods from $23.00 to $21.50 in a report published on Thursday,Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

Several other research firms have also recently weighed in on TSLX. Wells Fargo & Company reduced their price objective on Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. LADENBURG THALM/SH SH upgraded shares of Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price objective on the stock in a report on Wednesday. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $23.00 target price on shares of Sixth Street Specialty Lending in a research note on Thursday, August 15th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Sixth Street Specialty Lending has a consensus rating of “Buy” and an average target price of $22.00.

Sixth Street Specialty Lending Stock Performance

TSLX traded up $0.50 on Thursday, hitting $20.29. The company had a trading volume of 494,648 shares, compared to its average volume of 350,948. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 9.80 and a beta of 1.06. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.50 and a quick ratio of 1.90. The company’s fifty day moving average price is $20.66 and its 200 day moving average price is $21.07. Sixth Street Specialty Lending has a 1-year low of $19.50 and a 1-year high of $22.35.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. The business had revenue of $119.22 million for the quarter, compared to analyst estimates of $119.85 million. Sixth Street Specialty Lending had a return on equity of 13.55% and a net margin of 39.05%. During the same period in the previous year, the company posted $0.60 earnings per share. Equities analysts predict that Sixth Street Specialty Lending will post 2.31 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The firm also recently declared a — dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 29th will be issued a $0.05 dividend. The ex-dividend date is Friday, November 29th. This represents a dividend yield of 9.1%. Sixth Street Specialty Lending’s dividend payout ratio is 89.32%.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Muzinich & Co. Inc. lifted its position in shares of Sixth Street Specialty Lending by 12.4% during the third quarter. Muzinich & Co. Inc. now owns 366,410 shares of the financial services provider’s stock worth $7,522,000 after purchasing an additional 40,330 shares in the last quarter. MQS Management LLC acquired a new position in Sixth Street Specialty Lending during the 3rd quarter worth $749,000. Barnett & Company Inc. boosted its position in Sixth Street Specialty Lending by 4.7% in the 3rd quarter. Barnett & Company Inc. now owns 29,050 shares of the financial services provider’s stock valued at $596,000 after buying an additional 1,300 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Sixth Street Specialty Lending by 12.8% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 355,434 shares of the financial services provider’s stock valued at $7,297,000 after buying an additional 40,330 shares during the period. Finally, First National Trust Co lifted its stake in shares of Sixth Street Specialty Lending by 145.8% during the third quarter. First National Trust Co now owns 116,922 shares of the financial services provider’s stock valued at $2,400,000 after acquiring an additional 69,348 shares during the period. Institutional investors and hedge funds own 70.25% of the company’s stock.

Sixth Street Specialty Lending Company Profile

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.