Sixth Street Specialty Lending’s (TSLX) Outperform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Sixth Street Specialty Lending (NYSE:TSLX) in a research note published on Tuesday,Benzinga reports. Royal Bank of Canada currently has a $23.00 price objective on the financial services provider’s stock.

Other research analysts have also issued research reports about the stock. LADENBURG THALM/SH SH upgraded shares of Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price target on the stock in a research report on Wednesday, November 6th. Keefe, Bruyette & Woods dropped their target price on shares of 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, Wells Fargo & Company decreased their price target 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. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $22.00.

Sixth Street Specialty Lending Stock Performance

Shares of Sixth Street Specialty Lending stock opened at $20.26 on Tuesday. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 9.83 and a beta of 1.06. 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 $20.59 and its 200 day moving average is $21.04. 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 (NYSE:TSLX) last released its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $0.57 EPS for the quarter, meeting analysts’ consensus estimates of $0.57. Sixth Street Specialty Lending had a return on equity of 13.55% and a net margin of 39.05%. 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 company posted $0.60 EPS. Sell-side analysts forecast that Sixth Street Specialty Lending will post 2.32 EPS for the current year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently disclosed a — dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 29th will be issued a $0.05 dividend. This represents a yield of 9.1%. The ex-dividend date is Friday, November 29th. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is currently 89.32%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Nations Financial Group Inc. IA ADV boosted its stake in Sixth Street Specialty Lending by 1.7% in the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 36,903 shares of the financial services provider’s stock worth $788,000 after purchasing an additional 627 shares during the period. Worth Asset Management LLC raised its stake in Sixth Street Specialty Lending by 7.9% in the second quarter. Worth Asset Management LLC now owns 14,156 shares of the financial services provider’s stock valued at $302,000 after purchasing an additional 1,037 shares in the last quarter. IFG Advisory LLC raised its position in shares of Sixth Street Specialty Lending by 6.3% during the 2nd quarter. IFG Advisory LLC now owns 17,512 shares of the financial services provider’s stock valued at $374,000 after buying an additional 1,039 shares in the last quarter. EMC Capital Management raised its position in Sixth Street Specialty Lending by 23.1% during the first quarter. EMC Capital Management now owns 6,747 shares of the financial services provider’s stock valued at $145,000 after purchasing an additional 1,265 shares in the last quarter. Finally, Barnett & Company Inc. lifted its position in Sixth Street Specialty Lending by 4.7% in the 3rd quarter. Barnett & Company Inc. now owns 29,050 shares of the financial services provider’s stock worth $596,000 after buying an additional 1,300 shares during 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.