Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Receives $22.60 Average PT from Analysts

Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) have earned an average rating of “Moderate Buy” from the five research firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $22.60.

TSLX has been the subject of a number of recent research reports. Truist Financial increased their price objective on Sixth Street Specialty Lending from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, February 20th. JMP Securities reiterated a “market outperform” rating and issued a $22.50 price objective on shares of Sixth Street Specialty Lending in a research report on Tuesday, March 26th. Wells Fargo & Company boosted their price objective on shares of Sixth Street Specialty Lending from $21.00 to $22.50 and gave the company an “overweight” rating in a research note on Monday, January 29th. Finally, Royal Bank of Canada raised their target price on shares of Sixth Street Specialty Lending from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd.

Sixth Street Specialty Lending Stock Down 0.8 %

TSLX stock opened at $21.17 on Friday. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 8.14 and a beta of 1.04. The company has a fifty day moving average price of $21.16 and a 200 day moving average price of $21.06. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.66 and a quick ratio of 1.66. Sixth Street Specialty Lending has a 12 month low of $17.31 and a 12 month high of $22.35.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings data on Friday, February 16th. The financial services provider reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Sixth Street Specialty Lending had a net margin of 50.69% and a return on equity of 13.67%. The company had revenue of $119.50 million for the quarter, compared to analyst estimates of $115.18 million. During the same period in the previous year, the business posted $0.65 earnings per share. Sell-side analysts expect that Sixth Street Specialty Lending will post 2.35 earnings per share for the current year.

Sixth Street Specialty Lending Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $0.08 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.32 dividend on an annualized basis and a yield of 1.51%. This is an increase from Sixth Street Specialty Lending’s previous quarterly dividend of $0.07. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is 70.77%.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Several institutional investors have recently made changes to their positions in TSLX. HB Wealth Management LLC boosted its holdings in Sixth Street Specialty Lending by 29.6% during the third quarter. HB Wealth Management LLC now owns 80,252 shares of the financial services provider’s stock worth $1,640,000 after buying an additional 18,330 shares in the last quarter. Riverbridge Partners LLC boosted its stake in shares of Sixth Street Specialty Lending by 14.4% during the 3rd quarter. Riverbridge Partners LLC now owns 66,138 shares of the financial services provider’s stock worth $1,352,000 after acquiring an additional 8,336 shares in the last quarter. Merrion Investment Management Co LLC grew its holdings in shares of Sixth Street Specialty Lending by 8.7% in the 3rd quarter. Merrion Investment Management Co LLC now owns 25,000 shares of the financial services provider’s stock worth $511,000 after acquiring an additional 2,000 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in Sixth Street Specialty Lending by 6.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 448,357 shares of the financial services provider’s stock valued at $9,164,000 after purchasing an additional 26,305 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Sixth Street Specialty Lending by 3.0% during the third quarter. Bank of New York Mellon Corp now owns 298,083 shares of the financial services provider’s stock worth $6,093,000 after purchasing an additional 8,660 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.