Truist Financial Cuts Sixth Street Specialty Lending (NYSE:TSLX) Price Target to $22.00

Sixth Street Specialty Lending (NYSE:TSLX) had its price objective lowered by Truist Financial from $24.00 to $22.00 in a report published on Tuesday,Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

Several other equities research analysts have also recently commented on the stock. Royal Bank Of Canada cut their price objective on shares of Sixth Street Specialty Lending from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 19th. Weiss Ratings restated a “buy (b-)” rating on shares of Sixth Street Specialty Lending in a research note on Wednesday, December 24th. Keefe, Bruyette & Woods lowered their target price on shares of Sixth Street Specialty Lending from $24.00 to $23.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. Finally, Wells Fargo & Company dropped their price objective on Sixth Street Specialty Lending from $22.00 to $20.00 and set an “overweight” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $22.50.

Sixth Street Specialty Lending Price Performance

Shares of TSLX stock opened at $18.66 on Tuesday. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 10.31 and a beta of 0.70. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 1.08. The firm’s 50 day moving average is $21.35 and its 200-day moving average is $22.28. Sixth Street Specialty Lending has a 1 year low of $18.25 and a 1 year 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 $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. Sixth Street Specialty Lending had a return on equity of 12.71% and a net margin of 37.99%.The business had revenue of $108.25 million during the quarter, compared to the consensus estimate of $107.11 million. During the same quarter in the prior year, the company posted $0.61 earnings per share. Sell-side analysts forecast that Sixth Street Specialty Lending will post 2.19 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

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

Hedge Funds Weigh In On Sixth Street Specialty Lending

Several large investors have recently modified their holdings of the business. Harbor Investment Advisory LLC raised its position in shares of Sixth Street Specialty Lending by 673.2% during the fourth quarter. Harbor Investment Advisory LLC now owns 1,732 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 1,508 shares during the last quarter. MTM Investment Management LLC acquired a new position in shares of Sixth Street Specialty Lending during the 2nd quarter valued at $49,000. Advisory Services Network LLC bought a new position in shares of Sixth Street Specialty Lending during the 3rd quarter worth about $75,000. Redmont Wealth Advisors LLC bought a new position in Sixth Street Specialty Lending in the third quarter worth approximately $79,000. Finally, First Horizon Advisors Inc. grew its stake in Sixth Street Specialty Lending by 74.0% in the second quarter. First Horizon Advisors Inc. now owns 4,123 shares of the financial services provider’s stock valued at $98,000 after acquiring an additional 1,753 shares during the period. Institutional investors own 70.25% of the company’s stock.

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.