Brokerages Set Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Price Target at $22.25

Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) have earned a consensus rating of “Moderate Buy” from the nine analysts that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $22.25.

TSLX has been the topic of several research analyst reports. JPMorgan Chase & Co. cut their target price on Sixth Street Specialty Lending from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 17th. Wells Fargo & Company cut their price objective on shares of Sixth Street Specialty Lending from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Tuesday, February 17th. Royal Bank Of Canada reduced their price objective on shares of Sixth Street Specialty Lending from $24.00 to $22.00 and set an “outperform” rating for the company in a research report on Friday, February 20th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $25.00 target price on shares of Sixth Street Specialty Lending in a research report on Wednesday, February 18th. Finally, Truist Financial cut their price target on shares of Sixth Street Specialty Lending from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its holdings in shares of 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 valued at $57,817,000 after acquiring an additional 385,398 shares during the period. Sound Income Strategies LLC raised its position in Sixth Street Specialty Lending by 4.5% in the 4th quarter. Sound Income Strategies LLC now owns 2,511,115 shares of the financial services provider’s stock valued at $55,998,000 after purchasing an additional 108,708 shares during the last quarter. Progeny 3 Inc. boosted its stake in Sixth Street Specialty Lending by 1.0% during the 2nd quarter. Progeny 3 Inc. now owns 2,476,398 shares of the financial services provider’s stock worth $58,963,000 after purchasing an additional 23,451 shares during the period. Burgundy Asset Management Ltd. grew its position in Sixth Street Specialty Lending by 1.4% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 2,378,968 shares of the financial services provider’s stock worth $56,643,000 after purchasing an additional 31,922 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in Sixth Street Specialty Lending by 419.5% in the fourth quarter. Bank of Montreal Can now owns 2,284,920 shares of the financial services provider’s stock valued at $49,628,000 after purchasing an additional 1,845,088 shares during the period. Institutional investors and hedge funds own 70.25% of the company’s stock.

Sixth Street Specialty Lending Price Performance

Shares of TSLX opened at $17.34 on Wednesday. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 9.58 and a beta of 0.70. The firm’s fifty day simple moving average is $20.89 and its 200-day simple moving average is $22.03. Sixth Street Specialty Lending has a twelve month low of $17.28 and a twelve month high of $25.17. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 1.08.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its earnings results on Thursday, February 12th. The financial services provider reported $0.30 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.20). The business had revenue of $108.25 million during the quarter, compared to analysts’ expectations of $107.11 million. Sixth Street Specialty Lending had a net margin of 37.99% and a return on equity of 12.71%. During the same period last year, the company earned $0.61 EPS. Equities analysts forecast that Sixth Street Specialty Lending will post 2.19 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, March 16th. Sixth Street Specialty Lending’s payout ratio is presently 101.66%.

Sixth Street Specialty Lending Company Profile

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.