Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Receives Consensus Recommendation of “Buy” from Brokerages

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) has been assigned an average recommendation of “Buy” from the six brokerages that are covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have covered the stock in the last year is $22.00.

A number of research firms have recently weighed in on TSLX. Wells Fargo & Company decreased their price target on shares of Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $23.00 target price on shares of Sixth Street Specialty Lending in a research report on Tuesday, November 12th. Keefe, Bruyette & Woods reduced their price target on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Finally, LADENBURG THALM/SH SH raised Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Wednesday, November 6th.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Several institutional investors and hedge funds have recently bought and sold shares of the business. Columbus Macro LLC bought a new position in shares of Sixth Street Specialty Lending during the fourth quarter valued at approximately $7,669,000. Millennium Management LLC boosted its position in Sixth Street Specialty Lending by 482.6% during the 2nd quarter. Millennium Management LLC now owns 287,311 shares of the financial services provider’s stock valued at $6,134,000 after purchasing an additional 237,995 shares during the period. Progeny 3 Inc. grew its stake in Sixth Street Specialty Lending by 10.6% during the 3rd quarter. Progeny 3 Inc. now owns 2,252,774 shares of the financial services provider’s stock worth $46,249,000 after buying an additional 215,996 shares during the last quarter. JPMorgan Chase & Co. increased its position in Sixth Street Specialty Lending by 16.1% in the third quarter. JPMorgan Chase & Co. now owns 1,175,388 shares of the financial services provider’s stock worth $24,131,000 after buying an additional 162,810 shares during the period. Finally, Benjamin Edwards Inc. lifted its stake in Sixth Street Specialty Lending by 498.1% in the third quarter. Benjamin Edwards Inc. now owns 193,677 shares of the financial services provider’s stock valued at $3,976,000 after buying an additional 161,295 shares during the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

Sixth Street Specialty Lending Stock Performance

Shares of TSLX stock opened at $22.06 on Tuesday. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.50 and a quick ratio of 2.50. The company’s fifty day moving average price is $21.21 and its two-hundred day moving average price is $20.92. The firm has a market capitalization of $2.06 billion, a P/E ratio of 10.71 and a beta of 1.05. Sixth Street Specialty Lending has a 12 month low of $19.50 and a 12 month high of $22.35.

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, hitting the consensus estimate of $0.57. Sixth Street Specialty Lending had a return on equity of 13.55% and a net margin of 39.05%. The business had revenue of $119.22 million for the quarter, compared to analysts’ expectations of $119.85 million. During the same quarter in the previous year, the firm posted $0.60 earnings per share. On average, research analysts anticipate that Sixth Street Specialty Lending will post 2.31 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 2nd were given a dividend of $0.05 per share. This represents a dividend yield of 7.59%. The ex-dividend date was Friday, November 29th. Sixth Street Specialty Lending’s dividend payout ratio is presently 89.32%.

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.