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

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) has received a consensus rating of “Moderate Buy” from the ten brokerages that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has given 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 $23.5556.

Several brokerages have issued reports on TSLX. Wells Fargo & Company lifted their target price on shares of Sixth Street Specialty Lending from $21.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $24.00 target price on shares of Sixth Street Specialty Lending in a research note on Wednesday. JMP Securities lifted their target price on shares of Sixth Street Specialty Lending from $24.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 6th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Sixth Street Specialty Lending in a research note on Saturday, September 27th.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Several institutional investors and hedge funds have recently added to or reduced their stakes in TSLX. Sound Income Strategies LLC raised its holdings in shares of Sixth Street Specialty Lending by 1.9% during the 2nd quarter. Sound Income Strategies LLC now owns 2,406,296 shares of the financial services provider’s stock worth $57,294,000 after acquiring an additional 45,157 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of Sixth Street Specialty Lending by 108.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 276,845 shares of the financial services provider’s stock worth $6,196,000 after acquiring an additional 144,096 shares during the period. Cetera Investment Advisers raised its holdings in shares of Sixth Street Specialty Lending by 8.1% during the 1st quarter. Cetera Investment Advisers now owns 448,898 shares of the financial services provider’s stock worth $10,046,000 after acquiring an additional 33,818 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Sixth Street Specialty Lending by 15.3% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 435,607 shares of the financial services provider’s stock worth $9,749,000 after acquiring an additional 57,962 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Sixth Street Specialty Lending during the 1st quarter worth $201,000. Institutional investors and hedge funds own 70.25% of the company’s stock.

Sixth Street Specialty Lending Price Performance

Sixth Street Specialty Lending stock opened at $22.34 on Friday. The company’s fifty day moving average price is $23.84 and its 200 day moving average price is $22.92. Sixth Street Specialty Lending has a 1 year low of $18.58 and a 1 year high of $25.17. The stock has a market capitalization of $2.11 billion, a P/E ratio of 11.12 and a beta of 0.85. The company has a debt-to-equity ratio of 1.07, a quick ratio of 3.79 and a current ratio of 3.79.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.03. Sixth Street Specialty Lending had a net margin of 39.56% and a return on equity of 13.47%. The firm had revenue of $115.00 million for the quarter, compared to analysts’ expectations of $110.42 million. During the same quarter last year, the company earned $0.58 EPS. As a group, equities research analysts anticipate that Sixth Street Specialty Lending will post 2.19 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Monday, September 15th. Sixth Street Specialty Lending’s payout ratio is 91.54%.

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.