Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Given Consensus Rating of “Buy” by Analysts

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) has received a consensus recommendation of “Buy” from the six research firms that are covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $22.00.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TSLX. Bank of New York Mellon Corp lifted its position in shares of Sixth Street Specialty Lending by 10.6% during the second quarter. Bank of New York Mellon Corp now owns 17,376 shares of the financial services provider’s stock worth $371,000 after purchasing an additional 1,660 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Sixth Street Specialty Lending by 17.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 505,934 shares of the financial services provider’s stock valued at $10,802,000 after buying an additional 73,891 shares during the period. ProShare Advisors LLC boosted its position in Sixth Street Specialty Lending by 14.5% in the 2nd quarter. ProShare Advisors LLC now owns 14,986 shares of the financial services provider’s stock valued at $320,000 after buying an additional 1,898 shares during the period. 1832 Asset Management L.P. grew its stake in Sixth Street Specialty Lending by 6.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,279,000 shares of the financial services provider’s stock worth $27,307,000 after acquiring an additional 79,000 shares in the last quarter. Finally, Progeny 3 Inc. increased its position in shares of Sixth Street Specialty Lending by 2.6% during the second quarter. Progeny 3 Inc. now owns 2,036,778 shares of the financial services provider’s stock worth $43,485,000 after acquiring an additional 50,908 shares during the period. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Sixth Street Specialty Lending Price Performance

TSLX stock opened at $21.65 on Tuesday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.50 and a current ratio of 2.50. The company’s fifty day moving average price is $21.08 and its 200-day moving average price is $20.91. Sixth Street Specialty Lending has a one year low of $19.50 and a one year high of $22.35. The company has a market capitalization of $2.02 billion, a PE ratio of 10.51 and a beta of 1.05.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. Sixth Street Specialty Lending had a net margin of 39.05% and a return on equity of 13.55%. The business had revenue of $119.22 million during the quarter, compared to the consensus estimate of $119.85 million. During the same quarter in the prior year, the firm earned $0.60 EPS. On average, equities analysts anticipate that Sixth Street Specialty Lending will post 2.31 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently declared a dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 2nd were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a dividend yield of 7.59%. 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.