Analysts Set Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Target Price at $19.83

Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) have earned a consensus rating of “Moderate Buy” from the eight analysts that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $19.6667.

Several research analysts have issued reports on the company. Citizens Jmp dropped their target price on Sixth Street Specialty Lending from $25.00 to $24.00 and set a “market outperform” rating for the company in a research report on Wednesday, April 22nd. Keefe, Bruyette & Woods reduced their price target on Sixth Street Specialty Lending from $21.00 to $18.50 and set an “outperform” rating on the stock in a report on Thursday, May 7th. Wells Fargo & Company decreased their price target on Sixth Street Specialty Lending from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Wall Street Zen cut Sixth Street Specialty Lending from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Weiss Ratings downgraded Sixth Street Specialty Lending from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 18th.

Insider Activity at Sixth Street Specialty Lending

In related news, VP Ross Anthony Bruck purchased 8,000 shares of Sixth Street Specialty Lending stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average price of $17.76 per share, with a total value of $142,080.00. Following the purchase, the vice president directly owned 18,250 shares of the company’s stock, valued at approximately $324,120. This represents a 78.05% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.83% of the company’s stock.

Hedge Funds Weigh In On Sixth Street Specialty Lending

A number of hedge funds have recently added to or reduced their stakes in TSLX. Quantum Portfolio Management LLC purchased a new position in shares of Sixth Street Specialty Lending during the first quarter worth approximately $273,434,000. Strs Ohio grew its stake in Sixth Street Specialty Lending by 101.8% in the first quarter. Strs Ohio now owns 4,347,710 shares of the financial services provider’s stock worth $79,911,000 after purchasing an additional 2,193,551 shares in the last quarter. Sound Income Strategies LLC increased its holdings in Sixth Street Specialty Lending by 2.4% during the 1st quarter. Sound Income Strategies LLC now owns 2,571,052 shares of the financial services provider’s stock worth $46,562,000 after purchasing an additional 59,937 shares during the period. Van ECK Associates Corp raised its position in Sixth Street Specialty Lending by 18.0% during the 3rd quarter. Van ECK Associates Corp now owns 2,529,187 shares of the financial services provider’s stock valued at $57,817,000 after purchasing an additional 385,398 shares in the last quarter. Finally, Progeny 3 Inc. raised its position in Sixth Street Specialty Lending by 1.0% during the 2nd quarter. Progeny 3 Inc. now owns 2,476,398 shares of the financial services provider’s stock valued at $58,963,000 after purchasing an additional 23,451 shares in the last quarter. 70.25% of the stock is currently owned by institutional investors.

Sixth Street Specialty Lending Trading Down 0.2%

Shares of TSLX traded down $0.03 during midday trading on Tuesday, hitting $17.17. The stock had a trading volume of 153,470 shares, compared to its average volume of 873,791. Sixth Street Specialty Lending has a 1 year low of $16.04 and a 1 year high of $25.17. The firm has a market cap of $1.63 billion, a PE ratio of 14.94 and a beta of 0.59. The company has a debt-to-equity ratio of 1.17, a current ratio of 3.39 and a quick ratio of 3.39. The stock’s 50 day moving average is $17.45 and its 200 day moving average is $18.98.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.07). Sixth Street Specialty Lending had a return on equity of 11.92% and a net margin of 25.25%.The firm had revenue of $93.40 million for the quarter, compared to analysts’ expectations of $103.14 million. During the same period in the prior year, the firm posted $0.58 earnings per share. As a group, analysts forecast that Sixth Street Specialty Lending will post 1.71 EPS for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a dividend of $0.42 per share. This is an increase from Sixth Street Specialty Lending’s previous quarterly dividend of $0.01. This represents a $1.68 dividend on an annualized basis and a dividend yield of 9.8%. The ex-dividend date of this dividend was Monday, June 15th. Sixth Street Specialty Lending’s payout ratio is presently 146.09%.

About Sixth Street Specialty Lending

Sixth Street Specialty Lending Inc (NYSE: TSLX) is a closed-end, externally managed business development company that provides flexible debt financing solutions to middle-market companies. The fund primarily targets senior secured loans, unitranche facilities, mezzanine debt, second-lien financings and equity co-investment opportunities. By structuring tailored capital solutions, Sixth Street Specialty Lending seeks to support growth initiatives, recapitalizations and refinancings across a diverse set of industries, including technology, healthcare and business services.

As an affiliate of Sixth Street Partners, a global alternative investment firm, the company leverages the broader platform’s credit research, operational expertise and industry relationships.