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

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) has earned an average rating of “Moderate Buy” from the six analysts that are currently covering the stock, Marketbeat Ratings 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 12 month target price among brokerages that have covered the stock in the last year is $22.67.

A number of equities analysts have recently weighed in on the company. 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 Thursday, August 15th. Keefe, Bruyette & Woods cut their target price on shares of Sixth Street Specialty Lending from $23.50 to $23.00 and set an “outperform” rating for the company in a research note on Monday, May 6th.

Insider Activity at Sixth Street Specialty Lending

In other news, Director Judy S. Slotkin acquired 7,015 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were bought at an average cost of $19.90 per share, for a total transaction of $139,598.50. Following the acquisition, the director now directly owns 18,726 shares in the company, valued at approximately $372,647.40. The purchase was disclosed in a filing with the SEC, which is available through this link. 3.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Hedge funds have recently modified their holdings of the stock. Cetera Investment Advisers grew its position in Sixth Street Specialty Lending by 9.9% in the second quarter. Cetera Investment Advisers now owns 368,742 shares of the financial services provider’s stock valued at $7,873,000 after acquiring an additional 33,228 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc boosted its stake in shares of Sixth Street Specialty Lending by 4.0% in the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 128,694 shares of the financial services provider’s stock valued at $2,748,000 after purchasing an additional 4,895 shares during the period. Millennium Management LLC grew its holdings in Sixth Street Specialty Lending by 482.6% during the 2nd quarter. Millennium Management LLC now owns 287,311 shares of the financial services provider’s stock valued at $6,134,000 after purchasing an additional 237,995 shares in the last quarter. Progeny 3 Inc. increased 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 worth $43,485,000 after buying an additional 50,908 shares during the period. Finally, 1832 Asset Management L.P. increased its stake in Sixth Street Specialty Lending by 6.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,279,000 shares of the financial services provider’s stock worth $27,307,000 after buying an additional 79,000 shares during the period. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Sixth Street Specialty Lending Trading Down 0.4 %

Shares of TSLX stock opened at $21.05 on Friday. The stock has a market cap of $1.96 billion, a P/E ratio of 8.49 and a beta of 1.05. 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 has a fifty-two week low of $19.02 and a fifty-two week high of $22.35. The business has a fifty day simple moving average of $21.12 and a 200-day simple moving average of $21.25.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.01. Sixth Street Specialty Lending had a net margin of 44.55% and a return on equity of 13.76%. The company had revenue of $121.82 million for the quarter, compared to the consensus estimate of $120.33 million. During the same quarter in the prior year, the firm earned $0.58 earnings per share. On average, analysts forecast 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 will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 8.74%. This is an increase from Sixth Street Specialty Lending’s previous quarterly dividend of $0.06. The ex-dividend date is Monday, September 16th. Sixth Street Specialty Lending’s dividend payout ratio is presently 74.19%.

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.