Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Receives $22.00 Average Price Target from Analysts

Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) have earned an average rating of “Buy” from the six research firms that are currently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a buy recommendation. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $22.00.

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

Sixth Street Specialty Lending Stock Performance

Shares of TSLX opened at $22.02 on Tuesday. The firm has a market cap of $2.05 billion, a P/E ratio of 10.69 and a beta of 1.05. Sixth Street Specialty Lending has a twelve month low of $19.50 and a twelve month high of $22.35. 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 firm’s 50 day moving average price is $21.14 and its two-hundred day moving average price is $20.92.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share 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 during the quarter, compared to analyst estimates of $119.85 million. During the same period in the prior year, the business earned $0.60 EPS. On average, analysts forecast 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 announced a dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 2nd were issued a dividend of $0.05 per share. The ex-dividend date was Friday, November 29th. This represents a yield of 7.59%. Sixth Street Specialty Lending’s payout ratio is 89.32%.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Institutional investors and hedge funds have recently modified their holdings of the company. Millennium Management LLC increased its position in Sixth Street Specialty Lending by 482.6% during the second quarter. Millennium Management LLC now owns 287,311 shares of the financial services provider’s stock worth $6,134,000 after buying an additional 237,995 shares during the last quarter. Progeny 3 Inc. raised its stake in Sixth Street Specialty Lending by 10.6% in the 3rd quarter. Progeny 3 Inc. now owns 2,252,774 shares of the financial services provider’s stock valued at $46,249,000 after acquiring an additional 215,996 shares during the period. JPMorgan Chase & Co. lifted its holdings in Sixth Street Specialty Lending by 16.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,175,388 shares of the financial services provider’s stock valued at $24,131,000 after purchasing an additional 162,810 shares during the last quarter. Benjamin Edwards Inc. boosted its position in Sixth Street Specialty Lending by 498.1% during the third quarter. Benjamin Edwards Inc. now owns 193,677 shares of the financial services provider’s stock worth $3,976,000 after purchasing an additional 161,295 shares during the period. Finally, Van ECK Associates Corp increased its holdings in shares of Sixth Street Specialty Lending by 6.6% in the third quarter. Van ECK Associates Corp now owns 2,289,435 shares of the financial services provider’s stock valued at $47,117,000 after purchasing an additional 141,463 shares during the last quarter. 70.25% of the stock is owned by institutional investors.

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.