Sixth Street Specialty Lending (NYSE:TSLX) Downgraded by LADENBURG THALM/SH SH to Neutral

LADENBURG THALM/SH SH cut shares of Sixth Street Specialty Lending (NYSE:TSLX - Free Report) from a buy rating to a neutral rating in a research note released on Friday, MarketBeat Ratings reports.

Several other brokerages also recently weighed in on TSLX. Wells Fargo & Company boosted their price objective on shares of Sixth Street Specialty Lending from $21.00 to $23.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Royal Bank of Canada restated an "outperform" rating and set a $23.00 price objective on shares of Sixth Street Specialty Lending in a research report on Tuesday, November 12th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an "outperform" rating for the company in a research report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $22.79.

Sixth Street Specialty Lending Stock Up 0.5 %

Sixth Street Specialty Lending stock traded up $0.12 during trading on Friday, reaching $23.08. The stock had a trading volume of 617,959 shares, compared to its average volume of 306,634. Sixth Street Specialty Lending has a 52-week low of $19.50 and a 52-week high of $23.15. The business has a 50 day moving average price of $21.60 and a 200 day moving average price of $21.03. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 1.17. The stock has a market cap of $2.15 billion, a PE ratio of 11.20 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.04. The company had revenue of $123.70 million during the quarter, compared to the consensus estimate of $120.07 million. Sixth Street Specialty Lending had a net margin of 39.05% and a return on equity of 13.55%. On average, analysts predict that Sixth Street Specialty Lending will post 2.31 EPS for the current year.

Sixth Street Specialty Lending Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.21%. This is a boost from Sixth Street Specialty Lending's previous quarterly dividend of $0.05. The ex-dividend date is Friday, March 14th. Sixth Street Specialty Lending's payout ratio is presently 89.32%.

Hedge Funds Weigh In On Sixth Street Specialty Lending

Institutional investors have recently modified their holdings of the business. Trust Co. of Vermont acquired a new position in shares of Sixth Street Specialty Lending in the 4th quarter valued at $39,000. First Horizon Advisors Inc. increased its stake in Sixth Street Specialty Lending by 25.3% in the 4th quarter. First Horizon Advisors Inc. now owns 2,302 shares of the financial services provider's stock valued at $49,000 after buying an additional 465 shares during the period. Quarry LP increased its stake in Sixth Street Specialty Lending by 378.3% in the 3rd quarter. Quarry LP now owns 4,094 shares of the financial services provider's stock valued at $84,000 after buying an additional 3,238 shares during the period. Signaturefd LLC increased its stake in Sixth Street Specialty Lending by 13.3% in the 4th quarter. Signaturefd LLC now owns 4,673 shares of the financial services provider's stock valued at $100,000 after buying an additional 550 shares during the period. Finally, Atlas Capital Advisors Inc. acquired a new position in Sixth Street Specialty Lending in the 4th quarter valued at $109,000. 70.25% of the stock is owned by institutional investors and hedge funds.

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.