Sixth Street Specialty Lending (NYSE:TSLX) Hits New 12-Month Low - Here's Why

Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report) reached a new 52-week low during trading on Monday . The company traded as low as $18.91 and last traded at $19.41, with a volume of 590167 shares traded. The stock had previously closed at $20.34.

Analysts Set New Price Targets

Several research firms recently commented on TSLX. Keefe, Bruyette & Woods increased their target price on shares of Sixth Street Specialty Lending from $21.50 to $23.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. Royal Bank of Canada raised their price objective on Sixth Street Specialty Lending from $23.00 to $25.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Truist Financial boosted their target price on Sixth Street Specialty Lending from $23.00 to $24.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. LADENBURG THALM/SH SH lowered Sixth Street Specialty Lending from a "buy" rating to a "neutral" rating in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. lifted their price target on Sixth Street Specialty Lending from $22.50 to $23.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Sixth Street Specialty Lending currently has an average rating of "Moderate Buy" and an average price target of $23.17.

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Sixth Street Specialty Lending Trading Up 0.0 %

The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 1.18. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of 9.75 and a beta of 0.88. The company has a 50-day moving average price of $22.13 and a 200 day moving average price of $21.39.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.61 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.04. The firm had revenue of $123.70 million during the quarter, compared to analyst estimates of $120.07 million. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 38.67%. As a group, research analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.19 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The business also recently disclosed a dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 3rd were given a dividend of $0.07 per share. The ex-dividend date was Friday, February 28th. This is an increase from Sixth Street Specialty Lending's previous dividend of $0.05. This represents a yield of 6.99%. Sixth Street Specialty Lending's payout ratio is presently 90.64%.

Institutional Investors Weigh In On Sixth Street Specialty Lending

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TSLX. Van ECK Associates Corp increased its stake in shares of Sixth Street Specialty Lending by 4.5% in the fourth quarter. Van ECK Associates Corp now owns 2,393,069 shares of the financial services provider's stock worth $50,972,000 after acquiring an additional 103,634 shares during the last quarter. Progeny 3 Inc. grew its stake in Sixth Street Specialty Lending by 6.1% in the fourth quarter. Progeny 3 Inc. now owns 2,390,680 shares of the financial services provider's stock valued at $50,921,000 after purchasing an additional 137,906 shares in the last quarter. Sound Income Strategies LLC increased its position in Sixth Street Specialty Lending by 5.6% in the 4th quarter. Sound Income Strategies LLC now owns 2,305,372 shares of the financial services provider's stock worth $49,104,000 after purchasing an additional 122,312 shares during the last quarter. Burgundy Asset Management Ltd. raised its stake in shares of Sixth Street Specialty Lending by 1.7% during the 4th quarter. Burgundy Asset Management Ltd. now owns 2,192,486 shares of the financial services provider's stock worth $46,700,000 after purchasing an additional 37,442 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Sixth Street Specialty Lending by 2.9% during the 4th quarter. Wells Fargo & Company MN now owns 1,183,141 shares of the financial services provider's stock valued at $25,201,000 after buying an additional 33,026 shares during the last quarter. Hedge funds and other institutional investors 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.