Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Given Consensus Rating of “Buy” by Brokerages

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

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

Sixth Street Specialty Lending Price Performance

Sixth Street Specialty Lending stock opened at $21.10 on Friday. Sixth Street Specialty Lending has a one year low of $19.50 and a one year high of $22.35. The stock’s fifty day moving average price is $20.79 and its two-hundred day moving average price is $20.93. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.50 and a quick ratio of 2.50. The firm has a market cap of $1.97 billion, a PE ratio of 10.24 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its earnings results on Tuesday, November 5th. The financial services provider reported $0.57 EPS for the quarter, hitting 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 during the quarter, compared to the consensus estimate of $119.85 million. During the same quarter in the previous year, the firm earned $0.60 earnings per share. As a group, 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 disclosed a dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 2nd were given a dividend of $0.05 per share. The ex-dividend date was Friday, November 29th. This represents a dividend yield of 7.59%. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is presently 89.32%.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp raised its position in shares of Sixth Street Specialty Lending by 6.6% during the third quarter. Van ECK Associates Corp now owns 2,289,435 shares of the financial services provider’s stock valued at $47,117,000 after buying an additional 141,463 shares during the last quarter. Progeny 3 Inc. raised its stake in shares of Sixth Street Specialty Lending by 10.6% in the third quarter. Progeny 3 Inc. now owns 2,252,774 shares of the financial services provider’s stock valued at $46,249,000 after acquiring an additional 215,996 shares during the period. Sound Income Strategies LLC boosted its position in shares of Sixth Street Specialty Lending by 2.5% during the third quarter. Sound Income Strategies LLC now owns 2,183,060 shares of the financial services provider’s stock valued at $44,818,000 after buying an additional 53,961 shares during the period. Burgundy Asset Management Ltd. grew its position in Sixth Street Specialty Lending by 1.4% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 2,105,853 shares of the financial services provider’s stock valued at $44,960,000 after acquiring an additional 29,034 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its holdings in Sixth Street Specialty Lending by 6.6% during the 2nd 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 buying an additional 79,000 shares in the last quarter. 70.25% of the stock is currently 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.