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

Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) have been assigned an average rating of “Buy” from the six ratings firms that are currently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a buy recommendation. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $22.00.

Several research firms have recently commented on TSLX. Wells Fargo & Company lowered their price objective on shares of Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 price target on shares of Sixth Street Specialty Lending in a research report on Tuesday, November 12th. Keefe, Bruyette & Woods cut their price objective on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Finally, LADENBURG THALM/SH SH raised Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 target price for the company in a report on Wednesday, November 6th.

Sixth Street Specialty Lending Stock Down 0.2 %

Sixth Street Specialty Lending stock opened at $21.25 on Friday. The business has a fifty day moving average price of $20.85 and a 200-day moving average price of $20.92. Sixth Street Specialty Lending has a 1-year low of $19.50 and a 1-year high of $22.35. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 10.32 and a beta of 1.06. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.50 and a quick ratio of 2.50.

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

Sixth Street Specialty Lending Cuts Dividend

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Van ECK Associates Corp boosted its position 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 worth $47,117,000 after purchasing an additional 141,463 shares in the last quarter. Progeny 3 Inc. boosted its holdings 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 worth $46,249,000 after buying an additional 215,996 shares in the last quarter. Sound Income Strategies LLC grew its position in Sixth Street Specialty Lending by 2.5% during the third 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 during the period. Burgundy Asset Management Ltd. grew its position 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 valued at $44,960,000 after buying an additional 29,034 shares during the period. Finally, 1832 Asset Management L.P. increased its holdings in Sixth Street Specialty Lending by 6.6% in 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 buying an additional 79,000 shares in the last quarter. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

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.