Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Receives $23.50 Average PT from Analysts

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) has earned a consensus recommendation of “Moderate Buy” from the ten brokerages that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $23.50.

TSLX has been the subject of several recent analyst reports. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $24.00 price objective on shares of Sixth Street Specialty Lending in a research report on Wednesday, October 1st. Keefe, Bruyette & Woods decreased their price target on Sixth Street Specialty Lending from $24.00 to $23.00 and set an “outperform” rating for the company in a report on Thursday, November 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of Sixth Street Specialty Lending in a research note on Wednesday, December 24th. Wells Fargo & Company cut their target price on Sixth Street Specialty Lending from $24.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Finally, Royal Bank Of Canada lowered their target price on Sixth Street Specialty Lending from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Wednesday, November 19th.

Insider Transactions at Sixth Street Specialty Lending

In related news, CEO Robert J. Stanley purchased 10,000 shares of Sixth Street Specialty Lending stock in a transaction on Tuesday, November 18th. The stock was acquired at an average cost of $20.85 per share, for a total transaction of $208,500.00. Following the completion of the acquisition, the chief executive officer owned 24,907 shares of the company’s stock, valued at $519,310.95. This trade represents a 67.08% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.22% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sixth Street Specialty Lending

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Strs Ohio acquired a new stake in shares of Sixth Street Specialty Lending in the 1st quarter valued at about $79,698,000. Van ECK Associates Corp boosted its holdings 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 worth $57,817,000 after acquiring an additional 385,398 shares in the last quarter. Progeny 3 Inc. grew its stake in Sixth Street Specialty Lending by 1.0% in the second quarter. Progeny 3 Inc. now owns 2,476,398 shares of the financial services provider’s stock valued at $58,963,000 after acquiring an additional 23,451 shares during the period. Sound Income Strategies LLC increased its holdings in shares of Sixth Street Specialty Lending by 1.9% during the second quarter. Sound Income Strategies LLC now owns 2,406,296 shares of the financial services provider’s stock valued at $57,294,000 after acquiring an additional 45,157 shares in the last quarter. Finally, Burgundy Asset Management Ltd. increased its holdings in shares of Sixth Street Specialty Lending by 1.4% during the second quarter. Burgundy Asset Management Ltd. now owns 2,378,968 shares of the financial services provider’s stock valued at $56,643,000 after acquiring an additional 31,922 shares in the last quarter. Institutional investors own 70.25% of the company’s stock.

Sixth Street Specialty Lending Price Performance

Shares of TSLX opened at $21.93 on Tuesday. The business has a 50-day moving average of $21.71 and a 200-day moving average of $22.90. The company has a debt-to-equity ratio of 1.13, a current ratio of 4.73 and a quick ratio of 4.73. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of 10.75 and a beta of 0.70. Sixth Street Specialty Lending has a 1 year low of $18.58 and a 1 year high of $25.17.

Sixth Street Specialty Lending (NYSE:TSLX) last released its earnings results on Tuesday, November 4th. The financial services provider reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. Sixth Street Specialty Lending had a net margin of 41.24% and a return on equity of 13.20%. The business had revenue of $109.40 million during the quarter, compared to the consensus estimate of $108.35 million. During the same quarter in the prior year, the firm posted $0.57 EPS. As a group, equities research analysts anticipate that Sixth Street Specialty Lending will post 2.19 earnings per share for the current year.

Sixth Street Specialty Lending Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were paid a $0.03 dividend. The ex-dividend date was Monday, December 15th. This represents a $0.12 annualized dividend and a dividend yield of 0.5%. Sixth Street Specialty Lending’s payout ratio is currently 90.20%.

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.