Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Receives $22.67 Consensus Price Target from Brokerages

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) has been assigned an average rating of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $22.67.

A number of research firms have weighed in on TSLX. Wells Fargo & Company raised their price target on Sixth Street Specialty Lending from $21.00 to $22.50 and gave the company an “overweight” rating in a research report on Monday, January 29th. Royal Bank of Canada raised their price target on Sixth Street Specialty Lending from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. JMP Securities restated a “market outperform” rating and set a $22.50 price target on shares of Sixth Street Specialty Lending in a research report on Tuesday, March 26th. Keefe, Bruyette & Woods lowered their price target on Sixth Street Specialty Lending from $23.50 to $23.00 and set an “outperform” rating on the stock in a research report on Monday, May 6th. Finally, Truist Financial raised their price target on Sixth Street Specialty Lending from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, February 20th.

Sixth Street Specialty Lending Trading Down 1.3 %

Shares of TSLX stock opened at $21.28 on Thursday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.03 and a current ratio of 2.03. Sixth Street Specialty Lending has a 52-week low of $17.75 and a 52-week high of $22.35. The company has a market capitalization of $1.97 billion, a PE ratio of 8.58 and a beta of 1.03. The business’s fifty day moving average is $21.12 and its 200 day moving average is $21.28.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.02). Sixth Street Specialty Lending had a return on equity of 13.74% and a net margin of 47.16%. The business had revenue of $117.78 million during the quarter, compared to analysts’ expectations of $118.44 million. On average, equities research analysts anticipate that Sixth Street Specialty Lending will post 2.33 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.13%. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is currently 74.19%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TSLX. Bank of New York Mellon Corp grew its stake in shares of Sixth Street Specialty Lending by 3.0% during the third quarter. Bank of New York Mellon Corp now owns 298,083 shares of the financial services provider’s stock valued at $6,093,000 after buying an additional 8,660 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Sixth Street Specialty Lending by 1.5% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 300,812 shares of the financial services provider’s stock worth $6,149,000 after purchasing an additional 4,481 shares during the last quarter. MGO One Seven LLC bought a new stake in shares of Sixth Street Specialty Lending in the third quarter worth about $325,000. Signaturefd LLC grew its stake in shares of Sixth Street Specialty Lending by 19.3% in the third quarter. Signaturefd LLC now owns 4,367 shares of the financial services provider’s stock worth $89,000 after purchasing an additional 707 shares during the last quarter. Finally, Cornerstone Wealth Management LLC grew its stake in shares of Sixth Street Specialty Lending by 11.7% in the third quarter. Cornerstone Wealth Management LLC now owns 41,770 shares of the financial services provider’s stock worth $854,000 after purchasing an additional 4,374 shares during the last quarter. 70.25% of the stock is owned by 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.