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

Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) have earned a consensus rating of “Buy” from the six analysts that are presently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have covered the stock in the last year is $22.00.

A number of brokerages recently weighed in on TSLX. Royal Bank of Canada reissued an “outperform” rating and issued a $23.00 price target on shares of Sixth Street Specialty Lending in a report on Tuesday, November 12th. Wells Fargo & Company dropped their target price on 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. Keefe, Bruyette & Woods cut their price target 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. 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.

Hedge Funds Weigh In On Sixth Street Specialty Lending

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC raised its holdings in Sixth Street Specialty Lending by 5.8% in the first quarter. Tidal Investments LLC now owns 43,235 shares of the financial services provider’s stock worth $927,000 after purchasing an additional 2,368 shares during the period. Comerica Bank lifted its holdings in Sixth Street Specialty Lending by 9.1% during the first quarter. Comerica Bank now owns 18,142 shares of the financial services provider’s stock worth $389,000 after acquiring an additional 1,510 shares in the last quarter. Cetera Investment Advisers grew its stake in Sixth Street Specialty Lending by 41.8% in the first quarter. Cetera Investment Advisers now owns 335,514 shares of the financial services provider’s stock valued at $7,190,000 after acquiring an additional 98,855 shares during the period. Cetera Advisors LLC increased its holdings in shares of Sixth Street Specialty Lending by 811.5% in the first quarter. Cetera Advisors LLC now owns 136,262 shares of the financial services provider’s stock worth $2,920,000 after acquiring an additional 121,312 shares in the last quarter. Finally, Worth Asset Management LLC raised its position in shares of Sixth Street Specialty Lending by 7.9% during the second quarter. Worth Asset Management LLC now owns 14,156 shares of the financial services provider’s stock worth $302,000 after purchasing an additional 1,037 shares during the period. Institutional investors own 70.25% of the company’s stock.

Sixth Street Specialty Lending Price Performance

Sixth Street Specialty Lending stock opened at $21.60 on Monday. Sixth Street Specialty Lending has a 52 week low of $19.50 and a 52 week high of $22.35. The firm has a market cap of $2.02 billion, a P/E ratio of 10.49 and a beta of 1.06. 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 business’s fifty day moving average is $20.64 and its two-hundred day moving average is $20.99.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. Sixth Street Specialty Lending had a net margin of 39.05% and a return on equity of 13.55%. The firm had revenue of $119.22 million for the quarter, compared to analyst estimates of $119.85 million. During the same quarter in the prior year, the firm earned $0.60 EPS. Equities research analysts forecast that Sixth Street Specialty Lending will post 2.32 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Friday, December 20th. Investors of record on Monday, December 2nd will be issued a $0.05 dividend. The ex-dividend date is Friday, November 29th. This represents a 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.