Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Receives $23.50 Average Price Target from Brokerages

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) has received an average rating of “Moderate Buy” from the ten brokerages that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $23.50.

Several analysts recently issued reports on TSLX shares. Wells Fargo & Company lowered their price target on Sixth Street Specialty Lending from $24.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Sixth Street Specialty Lending in a report on Wednesday, October 8th. Royal Bank Of Canada decreased their price target 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. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $24.00 price objective on shares of Sixth Street Specialty Lending in a research report on Wednesday, October 1st. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Sixth Street Specialty Lending from $24.00 to $23.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th.

Insider Buying and Selling at Sixth Street Specialty Lending

In related news, CEO Robert J. Stanley purchased 10,000 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The stock was acquired at an average price of $20.85 per share, with a total value of $208,500.00. Following the completion of the transaction, the chief executive officer owned 24,907 shares of the company’s stock, valued at $519,310.95. This represents a 67.08% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TSLX. MTM Investment Management LLC bought a new stake in shares of Sixth Street Specialty Lending in the 2nd quarter valued at approximately $49,000. Advisory Services Network LLC acquired a new position in Sixth Street Specialty Lending in the third quarter worth $75,000. Redmont Wealth Advisors LLC bought a new stake in Sixth Street Specialty Lending during the third quarter valued at $79,000. First Horizon Advisors Inc. raised its holdings in shares of Sixth Street Specialty Lending by 74.0% during the second quarter. First Horizon Advisors Inc. now owns 4,123 shares of the financial services provider’s stock worth $98,000 after purchasing an additional 1,753 shares during the period. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Sixth Street Specialty Lending during the third quarter worth $98,000. 70.25% of the stock is currently owned by institutional investors.

Sixth Street Specialty Lending Stock Down 0.0%

Shares of NYSE:TSLX opened at $22.58 on Friday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 4.73 and a current ratio of 4.73. Sixth Street Specialty Lending has a 1 year low of $18.58 and a 1 year high of $25.17. The stock has a 50-day simple moving average of $21.81 and a 200-day simple moving average of $23.10. The stock has a market capitalization of $2.13 billion, a P/E ratio of 11.07 and a beta of 0.70.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.01. The company had revenue of $109.40 million during the quarter, compared to analyst estimates of $108.35 million. Sixth Street Specialty Lending had a net margin of 41.24% and a return on equity of 13.20%. During the same quarter in the prior year, the business earned $0.57 earnings per share. Equities analysts forecast that Sixth Street Specialty Lending will post 2.19 earnings per share for the current year.

Sixth Street Specialty Lending Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.12 dividend on an annualized basis and a yield of 0.5%. Sixth Street Specialty Lending’s dividend payout ratio is currently 90.20%.

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.