Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Receives $22.00 Average PT from Brokerages

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) has earned a consensus rating of “Buy” from the six brokerages that are presently covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a buy rating. The average 12 month price target among analysts that have covered the stock in the last year is $22.00.

Several brokerages have weighed in on TSLX. 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 Tuesday, November 12th. Wells Fargo & Company decreased their price target on Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. LADENBURG THALM/SH SH raised 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 research note on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating for the company in a research note on Thursday, November 7th.

Sixth Street Specialty Lending Trading Up 0.2 %

Shares of Sixth Street Specialty Lending stock opened at $21.14 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.50 and a current ratio of 2.50. The company has a market capitalization of $1.97 billion, a P/E ratio of 10.26 and a beta of 1.06. Sixth Street Specialty Lending has a 1 year low of $19.50 and a 1 year high of $22.35. The company’s fifty day moving average is $20.80 and its two-hundred day moving average is $20.92.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.57. The firm 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 quarter last year, the company posted $0.60 earnings per share. Analysts forecast that Sixth Street Specialty Lending will post 2.31 earnings per share for the current year.

Sixth Street Specialty Lending Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 2nd were issued a dividend of $0.05 per share. This represents a yield of 7.59%. The ex-dividend date was Friday, November 29th. Sixth Street Specialty Lending’s dividend payout ratio is presently 89.32%.

Institutional Investors Weigh In On Sixth Street Specialty Lending

A number of hedge funds and other institutional investors have recently bought and sold shares of TSLX. Bank of New York Mellon Corp grew its position in Sixth Street Specialty Lending by 10.6% during the second quarter. Bank of New York Mellon Corp now owns 17,376 shares of the financial services provider’s stock worth $371,000 after buying an additional 1,660 shares during the period. Nations Financial Group Inc. IA ADV grew its holdings in shares of Sixth Street Specialty Lending by 1.7% in the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 36,903 shares of the financial services provider’s stock worth $788,000 after acquiring an additional 627 shares during the period. Atlas Capital Advisors LLC purchased a new position in Sixth Street Specialty Lending in the 2nd quarter valued at approximately $109,000. IFG Advisory LLC increased its stake in Sixth Street Specialty Lending by 6.3% in the 2nd quarter. IFG Advisory LLC now owns 17,512 shares of the financial services provider’s stock valued at $374,000 after purchasing an additional 1,039 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in Sixth Street Specialty Lending by 18.6% during the second quarter. Van ECK Associates Corp now owns 2,147,972 shares of the financial services provider’s stock worth $45,859,000 after purchasing an additional 336,596 shares during the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

About 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.