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

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

A number of equities research analysts have issued reports on the company. Wells Fargo & Company reduced their price target on Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. 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 on the stock in a report on Thursday, November 7th. LADENBURG THALM/SH SH upgraded shares of Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price target for the company in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $23.00 price objective on shares of Sixth Street Specialty Lending in a research report on Tuesday, November 12th.

Sixth Street Specialty Lending Price Performance

Sixth Street Specialty Lending stock opened at $21.14 on Friday. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 1.17. Sixth Street Specialty Lending has a 52-week low of $19.50 and a 52-week high of $22.35. The firm has a market cap of $1.97 billion, a PE ratio of 10.26 and a beta of 1.06. The company’s 50 day moving average is $20.80 and its two-hundred day moving average is $20.92.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57. The business 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 in the prior year, the company earned $0.60 earnings per share. On average, research analysts expect that Sixth Street Specialty Lending will post 2.31 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Nations Financial Group Inc. IA ADV lifted its position in Sixth Street Specialty Lending by 1.7% in the second quarter. Nations Financial Group Inc. IA ADV now owns 36,903 shares of the financial services provider’s stock valued at $788,000 after acquiring an additional 627 shares during the last quarter. IFG Advisory LLC lifted its holdings in shares of 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 during the last quarter. Barnett & Company Inc. boosted its position in shares of Sixth Street Specialty Lending by 4.7% in the 3rd quarter. Barnett & Company Inc. now owns 29,050 shares of the financial services provider’s stock valued at $596,000 after purchasing an additional 1,300 shares during the period. Sanctuary Advisors LLC grew its stake in Sixth Street Specialty Lending by 6.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 24,168 shares of the financial services provider’s stock worth $502,000 after buying an additional 1,441 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Sixth Street Specialty Lending by 10.6% during the 2nd 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 last quarter. 70.25% of the stock is owned by hedge funds and other institutional investors.

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.