Brokerages Set Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Price Target at $19.67

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) has received a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $19.6667.

Several brokerages have issued reports on TSLX. Keefe, Bruyette & Woods cut their price target on Sixth Street Specialty Lending from $21.00 to $18.50 and set an “outperform” rating on the stock in a report on Thursday, May 7th. Wall Street Zen downgraded Sixth Street Specialty Lending from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings lowered Sixth Street Specialty Lending from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 18th. Royal Bank Of Canada cut their target price on Sixth Street Specialty Lending from $22.00 to $20.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Sixth Street Specialty Lending from $17.50 to $16.50 and set a “neutral” rating for the company in a research report on Thursday, July 2nd.

Sixth Street Specialty Lending Price Performance

Shares of NYSE TSLX opened at $17.13 on Friday. The firm has a market capitalization of $1.63 billion, a P/E ratio of 14.89 and a beta of 0.59. The firm’s 50-day moving average price is $17.09 and its 200-day moving average price is $18.49. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 1.17. Sixth Street Specialty Lending has a 1-year low of $16.04 and a 1-year high of $24.79.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its earnings results on Tuesday, May 5th. The financial services provider reported $0.42 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.07). Sixth Street Specialty Lending had a net margin of 25.25% and a return on equity of 11.92%. The firm had revenue of $93.40 million during the quarter, compared to analyst estimates of $103.14 million. During the same quarter in the prior year, the business earned $0.58 earnings per share. Equities research analysts anticipate that Sixth Street Specialty Lending will post 1.72 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 9.8%. This is a positive change from Sixth Street Specialty Lending’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Monday, June 15th. Sixth Street Specialty Lending’s payout ratio is 146.09%.

Insider Buying and Selling at Sixth Street Specialty Lending

In other Sixth Street Specialty Lending news, VP Ross Anthony Bruck acquired 8,000 shares of Sixth Street Specialty Lending stock in a transaction dated Monday, May 11th. The stock was purchased at an average cost of $17.76 per share, for a total transaction of $142,080.00. Following the completion of the acquisition, the vice president directly owned 18,250 shares of the company’s stock, valued at $324,120. This represents a 78.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.83% of the company’s stock.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Institutional investors and hedge funds have recently made changes to their positions in the business. Lido Advisors LLC boosted its stake in Sixth Street Specialty Lending by 1.2% during the 4th quarter. Lido Advisors LLC now owns 42,172 shares of the financial services provider’s stock valued at $958,000 after purchasing an additional 506 shares during the last quarter. Stratos Wealth Partners LTD. increased its holdings in Sixth Street Specialty Lending by 5.6% during the 4th quarter. Stratos Wealth Partners LTD. now owns 10,047 shares of the financial services provider’s stock worth $218,000 after purchasing an additional 532 shares in the last quarter. Family Wealth Partners LLC raised its stake in shares of Sixth Street Specialty Lending by 2.5% in the fourth quarter. Family Wealth Partners LLC now owns 24,867 shares of the financial services provider’s stock worth $540,000 after purchasing an additional 602 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in shares of Sixth Street Specialty Lending by 5.5% in the fourth quarter. Oppenheimer & Co. Inc. now owns 11,923 shares of the financial services provider’s stock worth $259,000 after purchasing an additional 626 shares during the last quarter. Finally, Sage Investment Counsel LLC raised its stake in shares of Sixth Street Specialty Lending by 3.2% in the first quarter. Sage Investment Counsel LLC now owns 25,577 shares of the financial services provider’s stock worth $470,000 after purchasing an additional 800 shares during the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

About Sixth Street Specialty Lending

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.