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

Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) have been assigned a consensus rating of “Buy” from the six ratings firms that are covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $22.00.

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

Sixth Street Specialty Lending Stock Performance

Shares of NYSE TSLX opened at $21.30 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 twelve month low of $19.50 and a twelve month high of $22.35. The company’s fifty day moving average is $20.82 and its 200-day moving average is $20.92. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 10.34 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. Sixth Street Specialty Lending had a net margin of 39.05% and a return on equity of 13.55%. The firm had revenue of $119.22 million for the quarter, compared to analyst estimates of $119.85 million. During the same quarter in the previous year, the firm posted $0.60 earnings per share. Equities research analysts predict that Sixth Street Specialty Lending will post 2.31 EPS for the current year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 2nd were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a dividend yield of 7.59%. Sixth Street Specialty Lending’s dividend payout ratio is currently 89.32%.

Institutional Trading of Sixth Street Specialty Lending

Hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp raised its stake in Sixth Street Specialty Lending by 6.6% in the 3rd quarter. Van ECK Associates Corp now owns 2,289,435 shares of the financial services provider’s stock valued at $47,117,000 after acquiring an additional 141,463 shares during the period. Progeny 3 Inc. boosted its stake in Sixth Street Specialty Lending by 10.6% during 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 buying an additional 215,996 shares during the period. Sound Income Strategies LLC raised its position in shares of Sixth Street Specialty Lending by 2.5% during the 3rd 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 in the last quarter. Burgundy Asset Management Ltd. lifted its stake in Sixth Street Specialty Lending by 1.4% during the second quarter. Burgundy Asset Management Ltd. now owns 2,105,853 shares of the financial services provider’s stock worth $44,960,000 after purchasing an additional 29,034 shares during the last quarter. Finally, 1832 Asset Management L.P. grew its position in Sixth Street Specialty Lending by 6.6% during the second 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 acquiring an additional 79,000 shares during the last quarter. Institutional investors own 70.25% of the company’s stock.

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.