Profile
Sector:
Financial ServicesIndustry:
Asset ManagementCountry:
United StatesIPO:
21 March 2014Next earnings report:
05 November 2024Last dividends:
16 September 2024Next dividends:
N/APrice
after hours | Fri, 01 Nov 2024 20:06:00 GMTAnalysts recommendations
Institutional Ownership
TSLX Latest News
Sixth Street Specialty Lending is a defensive BDC with strong base dividend coverage, even amid potential interest rate cuts. TSLX's portfolio is well-diversified, focusing on first-lien debt, with low non-accruals and reasonable industry exposure. Despite interest rate cuts, TSLX's dividend coverage remains robust, with room for special dividends.
NEW YORK--(BUSINESS WIRE)--Sixth Street Specialty Lending, Inc. (NYSE: TSLX) (“TSLX” or “the Company") announced today that it will release its financial results for the third quarter ended September 30, 2024 on Tuesday, November 5, 2024, after the market closes. TSLX invites all interested persons to its webcast / conference call on Wednesday, November 6, 2024 at 8:30 a.m. Eastern Time to discuss its third quarter ended September 30, 2024 financial results. Conference Call Information: The con.
Sixth Street (TSLX) came out with quarterly earnings of $0.58 per share, beating the Zacks Consensus Estimate of $0.57 per share. This compares to earnings of $0.58 per share a year ago.
TSLX is a BDC focusing on lending to middle market US companies. The portfolio is well-constructed, diverse, and focused on risk mitigation through first lien debt investments and a majority of investments on a floating rate basis. TSLX's high distribution rate of 8.8% is well-supported by net investment income, with a history of solid dividend growth and coverage, making it an attractive option for income-focused investors.
Sixth Street Lending Inc. is a well-managed BDC with a First Lien-centric, floating-rate investment portfolio and a 9% dividend yield. The central bank's guidance for a higher-for-longer rate environment may aid short-term growth, but long-term net investment income growth is uncertain. TSLX's 24% premium to NAV may not offer compelling risk/reward, especially in an environment of falling interest rates.
Sixth Street Specialty Lending offers a solid 8.7% yield and has consistently outperformed its peers through strategic first lien loans and robust portfolio management. Imperial Brands has undergone significant transformation and achieved solid progress in next-generation products, offering an appealing dividend yield of 7.3%. Both TSLX and IMBBY provide investors with reliable cash flow and potential for long-term value creation, making them appealing additions to a dividend-focused portfolio.
Sixth Street Specialty Lending has put in place a strong portfolio strategy that has produced good risk-adjusted returns and kept a low non-accrual rate. With improvements in the BDC market, Sixth Street's strong liquidity position allows it to take advantage of promising opportunities. This makes it a viable choice for investors seeking long-term investments and in need of cash flow.
The latest data for Sixth St (TSLX) provides a glimpse into the company's performance in the first quarter of 2024, but it could be valuable to analyze its key metrics in comparison to Wall Street forecasts and the figures from the same period last year.
TSLX reported quarterly earnings of $0.58 per share, falling short of the Zacks Consensus Estimate of $0.60 per share. This is an increase from earnings of $0.53 per share in the same quarter last year.
Sixth Street Specialty Lending, Inc. is one of the largest BDCs with a NAV of close to $1.5 billion. TSLX has consistently outperformed the broader BDC market over the past 5 years, and due to the strength of its fundamentals, it trades at a premium to NAV. If we reconcile the Q4 2023 earnings report, we will understand that having a premium here is fully justified.
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What type of business is Sixth Street Specialty Lending?
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. The fund invests in business services, software & technology, healthcare, energy, consumer & retail, manufacturing, industrials, royalty related businesses, education, and specialty finance. It seeks to finance and lending to middle market companies principally located in the United States. The fund invests in companies with enterprise value between $50 million and $1 billion or more and EBITDA between $10 million and $250 million. The transaction size is between $15 million and $350 million. The fund invests across the spectrum of the capital structure and can arrange syndicated transactions of up to $500 million and hold sizeable positions within its credits.
What sector is Sixth Street Specialty Lending in?
Sixth Street Specialty Lending is in the Financial Services sector
What industry is Sixth Street Specialty Lending in?
Sixth Street Specialty Lending is in the Asset Management industry
What country is Sixth Street Specialty Lending from?
Sixth Street Specialty Lending is headquartered in United States
When did Sixth Street Specialty Lending go public?
Sixth Street Specialty Lending initial public offering (IPO) was on 21 March 2014
What is Sixth Street Specialty Lending website?
https://www.sixthstreetspecialtylending.com
Is Sixth Street Specialty Lending in the S&P 500?
No, Sixth Street Specialty Lending is not included in the S&P 500 index
Is Sixth Street Specialty Lending in the NASDAQ 100?
No, Sixth Street Specialty Lending is not included in the NASDAQ 100 index
Is Sixth Street Specialty Lending in the Dow Jones?
No, Sixth Street Specialty Lending is not included in the Dow Jones index
When was Sixth Street Specialty Lending the previous earnings report?
No data
When does Sixth Street Specialty Lending earnings report?
The next expected earnings date for Sixth Street Specialty Lending is 05 November 2024