Analysts Set Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Price Target at $22.67

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) has been given an average recommendation of “Moderate Buy” by the six analysts that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $22.67.

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 target price on shares of Sixth Street Specialty Lending in a research report on Thursday, August 15th.

Sixth Street Specialty Lending Stock Performance

Shares of TSLX opened at $20.62 on Friday. Sixth Street Specialty Lending has a 52-week low of $19.02 and a 52-week high of $22.35. The firm has a market capitalization of $1.92 billion, a PE ratio of 8.74 and a beta of 1.06. The firm has a 50-day moving average price of $20.76 and a 200 day moving average price of $21.12. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 1.07.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.01. Sixth Street Specialty Lending had a return on equity of 13.76% and a net margin of 44.55%. The business had revenue of $121.82 million during the quarter, compared to analyst estimates of $120.33 million. During the same quarter in the prior year, the firm posted $0.58 earnings per share. On average, sell-side analysts anticipate that Sixth Street Specialty Lending will post 2.31 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 8.92%. This is a boost from Sixth Street Specialty Lending’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Monday, September 16th. Sixth Street Specialty Lending’s payout ratio is presently 77.97%.

Insider Activity

In other Sixth Street Specialty Lending news, Director Judy S. Slotkin acquired 7,015 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was purchased at an average cost of $19.90 per share, for a total transaction of $139,598.50. Following the transaction, the director now owns 18,726 shares of the company’s stock, valued at $372,647.40. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.30% of the company’s stock.

Hedge Funds Weigh In On Sixth Street Specialty Lending

Institutional investors and hedge funds have recently modified their holdings of the stock. Sound Income Strategies LLC grew its stake in shares of Sixth Street Specialty Lending by 2.5% in the 3rd quarter. Sound Income Strategies LLC now owns 2,183,060 shares of the financial services provider’s stock valued at $44,818,000 after buying an additional 53,961 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Sixth Street Specialty Lending by 18.6% during the 2nd quarter. Van ECK Associates Corp now owns 2,147,972 shares of the financial services provider’s stock worth $45,859,000 after purchasing an additional 336,596 shares during the last quarter. Burgundy Asset Management Ltd. boosted its stake in Sixth Street Specialty Lending by 1.4% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 2,105,853 shares of the financial services provider’s stock valued at $44,960,000 after purchasing an additional 29,034 shares during the period. Progeny 3 Inc. boosted its stake in Sixth Street Specialty Lending by 2.6% during the 2nd quarter. Progeny 3 Inc. now owns 2,036,778 shares of the financial services provider’s stock valued at $43,485,000 after purchasing an additional 50,908 shares during the period. Finally, 1832 Asset Management L.P. grew its holdings 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 valued at $27,307,000 after buying an additional 79,000 shares during the last quarter. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Sixth Street Specialty Lending Company Profile

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.