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

Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) have received a consensus rating of “Buy” from the eight analysts that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $22.81.

TSLX has been the topic of a number of analyst reports. Royal Bank Of Canada increased their target price on shares of Sixth Street Specialty Lending from $23.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Wells Fargo & Company reduced their price target on Sixth Street Specialty Lending from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. B. Riley began coverage on Sixth Street Specialty Lending in a report on Tuesday, May 13th. They issued a “buy” rating and a $23.00 price objective for the company. Raymond James Financial reduced their target price on Sixth Street Specialty Lending from $24.00 to $23.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Finally, JPMorgan Chase & Co. decreased their price target on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “overweight” rating on the stock in a research report on Thursday, April 24th.

Sixth Street Specialty Lending Stock Up 1.5%

TSLX stock opened at $23.04 on Friday. Sixth Street Specialty Lending has a fifty-two week low of $18.58 and a fifty-two week high of $23.75. The company has a debt-to-equity ratio of 1.15, a current ratio of 3.06 and a quick ratio of 3.06. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of 12.19 and a beta of 0.83. The business’s fifty day moving average price is $21.89 and its two-hundred day moving average price is $21.85.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.56 by $0.02. Sixth Street Specialty Lending had a net margin of 36.59% and a return on equity of 13.60%. The business had revenue of $113.92 billion for the quarter, compared to the consensus estimate of $116.70 million. During the same period in the prior year, the company posted $0.52 earnings per share. On average, equities analysts anticipate that Sixth Street Specialty Lending will post 2.19 earnings per share for the current year.

Sixth Street Specialty Lending Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, June 20th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a dividend yield of 9.21%. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is currently 97.35%.

Institutional Trading of Sixth Street Specialty Lending

Several large investors have recently bought and sold shares of TSLX. D.A. Davidson & CO. lifted its holdings in shares of Sixth Street Specialty Lending by 5.4% in the fourth quarter. D.A. Davidson & CO. now owns 169,316 shares of the financial services provider’s stock worth $3,606,000 after acquiring an additional 8,699 shares during the last quarter. First Horizon Advisors Inc. increased its position in Sixth Street Specialty Lending by 25.3% during the 4th quarter. First Horizon Advisors Inc. now owns 2,302 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 465 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in Sixth Street Specialty Lending in the 4th quarter valued at approximately $392,000. Bank of New York Mellon Corp lifted its stake in shares of Sixth Street Specialty Lending by 7.6% in the 4th quarter. Bank of New York Mellon Corp now owns 12,811 shares of the financial services provider’s stock valued at $273,000 after acquiring an additional 909 shares during the last quarter. Finally, Canton Hathaway LLC bought a new stake in Sixth Street Specialty Lending during the 4th quarter worth $329,000. 70.25% of the stock is owned by institutional investors and hedge funds.

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.