Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Receives $20.29 Consensus PT from Analysts

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) has received an average recommendation of “Moderate Buy” from the eight research firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $19.8333.

A number of equities analysts have commented on the company. Wall Street Zen lowered Sixth Street Specialty Lending from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Keefe, Bruyette & Woods reduced their price objective on Sixth Street Specialty Lending from $21.00 to $18.50 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Truist Financial reduced their price objective on Sixth Street Specialty Lending from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Royal Bank Of Canada reduced their price objective on Sixth Street Specialty Lending from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Finally, Wells Fargo & Company dropped their target price on Sixth Street Specialty Lending from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th.

Insiders Place Their Bets

In other news, VP Ross Anthony Bruck bought 8,000 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was bought at an average price of $17.76 per share, for a total transaction of $142,080.00. Following the completion of the transaction, the vice president directly owned 18,250 shares in the company, valued at $324,120. The trade was a 78.05% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Alan Waxman bought 45,000 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were purchased at an average price of $18.47 per share, with a total value of $831,150.00. Following the transaction, the vice president owned 545,000 shares of the company’s stock, valued at $10,066,150. The trade was a 9.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have bought 553,000 shares of company stock valued at $10,139,230. 3.83% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sixth Street Specialty Lending

A number of institutional investors and hedge funds have recently made changes to their positions in TSLX. Quantum Portfolio Management LLC bought a new stake in Sixth Street Specialty Lending in the first quarter valued at about $273,434,000. Strs Ohio grew its stake in Sixth Street Specialty Lending by 101.8% in the first quarter. Strs Ohio now owns 4,347,710 shares of the financial services provider’s stock valued at $79,911,000 after acquiring an additional 2,193,551 shares during the period. Bank of Montreal Can grew its stake in Sixth Street Specialty Lending by 419.5% in the fourth quarter. Bank of Montreal Can now owns 2,284,920 shares of the financial services provider’s stock valued at $49,628,000 after acquiring an additional 1,845,088 shares during the period. Van ECK Associates Corp grew its stake in Sixth Street Specialty Lending by 18.0% in the third quarter. Van ECK Associates Corp now owns 2,529,187 shares of the financial services provider’s stock valued at $57,817,000 after acquiring an additional 385,398 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in Sixth Street Specialty Lending by 105.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 624,196 shares of the financial services provider’s stock valued at $13,558,000 after acquiring an additional 319,665 shares during the period. Institutional investors own 70.25% of the company’s stock.

Sixth Street Specialty Lending Price Performance

Shares of TSLX stock opened at $17.38 on Monday. The stock’s fifty day simple moving average is $18.32 and its 200 day simple moving average is $20.24. The company has a debt-to-equity ratio of 1.17, a current ratio of 3.39 and a quick ratio of 3.39. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 15.11 and a beta of 0.65. Sixth Street Specialty Lending has a one year low of $16.99 and a one year high of $25.17.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $0.42 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.07). The company had revenue of $93.40 million during the quarter, compared to analyst estimates of $103.14 million. Sixth Street Specialty Lending had a net margin of 25.25% and a return on equity of 11.92%. During the same period in the prior year, the firm earned $0.58 EPS. On average, analysts expect that Sixth Street Specialty Lending will post 1.76 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a dividend of $0.42 per share. The ex-dividend date is Monday, June 15th. This is an increase from Sixth Street Specialty Lending’s previous quarterly dividend of $0.01. This represents a $1.68 dividend on an annualized basis and a dividend yield of 9.7%. Sixth Street Specialty Lending’s dividend payout ratio is presently 160.00%.

About Sixth Street Specialty Lending

Sixth Street Specialty Lending Inc (NYSE: TSLX) is a closed-end, externally managed business development company that provides flexible debt financing solutions to middle-market companies. The fund primarily targets senior secured loans, unitranche facilities, mezzanine debt, second-lien financings and equity co-investment opportunities. By structuring tailored capital solutions, Sixth Street Specialty Lending seeks to support growth initiatives, recapitalizations and refinancings across a diverse set of industries, including technology, healthcare and business services.

As an affiliate of Sixth Street Partners, a global alternative investment firm, the company leverages the broader platform’s credit research, operational expertise and industry relationships.