Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Receives Average Rating of “Buy” from Analysts

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) has been given an average rating of “Buy” by the six ratings firms that are covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a buy rating. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $22.00.

Several equities research analysts recently weighed in on TSLX shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $23.00 price objective on shares of Sixth Street Specialty Lending in a report on Tuesday, November 12th. Keefe, Bruyette & Woods decreased 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 report on Thursday, November 7th. LADENBURG THALM/SH SH raised Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Wednesday, November 6th. Finally, 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 research note on Tuesday, October 29th.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Large investors have recently modified their holdings of the stock. Sound Income Strategies LLC increased its position in shares of Sixth Street Specialty Lending by 5.6% in the fourth quarter. Sound Income Strategies LLC now owns 2,305,372 shares of the financial services provider’s stock worth $49,104,000 after acquiring an additional 122,312 shares in the last quarter. Van ECK Associates Corp raised its stake in Sixth Street Specialty Lending by 6.6% during the 3rd quarter. Van ECK Associates Corp now owns 2,289,435 shares of the financial services provider’s stock valued at $47,117,000 after purchasing an additional 141,463 shares during the period. Progeny 3 Inc. raised its stake in Sixth Street Specialty Lending by 10.6% during the 3rd quarter. Progeny 3 Inc. now owns 2,252,774 shares of the financial services provider’s stock valued at $46,249,000 after purchasing an additional 215,996 shares during the period. 1832 Asset Management L.P. lifted its holdings in shares of Sixth Street Specialty Lending by 6.6% in the second quarter. 1832 Asset Management L.P. now owns 1,279,000 shares of the financial services provider’s stock valued at $27,307,000 after purchasing an additional 79,000 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Sixth Street Specialty Lending by 16.1% in the third quarter. JPMorgan Chase & Co. now owns 1,175,388 shares of the financial services provider’s stock worth $24,131,000 after buying an additional 162,810 shares during the period. 70.25% of the stock is owned by institutional investors.

Sixth Street Specialty Lending Stock Performance

TSLX opened at $22.06 on Tuesday. Sixth Street Specialty Lending has a twelve month low of $19.50 and a twelve month high of $22.35. The stock has a market cap of $2.06 billion, a PE ratio of 10.71 and a beta of 1.05. The business’s 50 day moving average is $21.21 and its 200-day moving average is $20.92. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 1.17.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. Sixth Street Specialty Lending had a return on equity of 13.55% and a net margin of 39.05%. The firm had revenue of $119.22 million for the quarter, compared to the consensus estimate of $119.85 million. During the same quarter in the previous year, the business earned $0.60 EPS. On average, analysts predict that Sixth Street Specialty Lending will post 2.31 earnings per share for the current year.

Sixth Street Specialty Lending Cuts Dividend

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

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.