Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Receives $22.33 Average PT from Brokerages

Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) have been assigned an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $22.79.

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Sixth Street Specialty Lending from $22.50 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 price target on shares of Sixth Street Specialty Lending in a report on Tuesday, November 12th. LADENBURG THALM/SH SH cut shares of Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a report on Friday, February 14th. Keefe, Bruyette & Woods increased their price target on shares of Sixth Street Specialty Lending from $21.50 to $23.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Wells Fargo & Company increased their price target on shares of Sixth Street Specialty Lending from $21.00 to $23.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp boosted its holdings in 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 purchasing an additional 103,634 shares during the last quarter. Progeny 3 Inc. raised its position 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 worth $50,921,000 after acquiring an additional 137,906 shares during the period. Sound Income Strategies LLC raised its position in 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 during the period. Burgundy Asset Management Ltd. raised its position in Sixth Street Specialty Lending by 1.7% in the fourth quarter. Burgundy Asset Management Ltd. now owns 2,192,486 shares of the financial services provider’s stock worth $46,700,000 after acquiring an additional 37,442 shares during the period. Finally, Wells Fargo & Company MN raised its position in Sixth Street Specialty Lending by 2.9% in the fourth quarter. Wells Fargo & Company MN now owns 1,183,141 shares of the financial services provider’s stock worth $25,201,000 after acquiring an additional 33,026 shares during the period. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Sixth Street Specialty Lending Price Performance

Shares of NYSE TSLX opened at $23.50 on Friday. Sixth Street Specialty Lending has a fifty-two week low of $19.50 and a fifty-two week high of $23.66. The company has a 50 day simple moving average of $21.70 and a two-hundred day simple moving average of $21.08. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of 11.57 and a beta of 1.06. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.90 and a current ratio of 1.90.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its earnings results on Thursday, February 13th. The financial services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. Sixth Street Specialty Lending had a net margin of 38.67% and a return on equity of 13.47%. The business had revenue of $123.70 million during the quarter, compared to the consensus estimate of $120.07 million. Analysts expect that Sixth Street Specialty Lending will post 2.19 EPS for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The business also recently announced a dividend, which will be paid on Thursday, March 20th. Investors of record on Monday, March 3rd will be issued a $0.07 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a yield of 7.06%. This is a boost from Sixth Street Specialty Lending’s previous dividend of $0.05. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is currently 90.64%.

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.