Brokerages 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 research firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $19.8333.

TSLX has been the topic of a number of recent analyst reports. Truist Financial dropped their price objective on Sixth Street Specialty Lending from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Wall Street Zen downgraded Sixth Street Specialty Lending from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. JPMorgan Chase & Co. dropped their price objective on Sixth Street Specialty Lending from $18.50 to $17.50 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Keefe, Bruyette & Woods dropped their price objective 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. Finally, Zacks Research downgraded Sixth Street Specialty Lending from a “hold” rating to a “strong sell” rating in a report on Thursday, May 7th.

Sixth Street Specialty Lending Trading Down 1.4%

TSLX opened at $16.97 on Friday. Sixth Street Specialty Lending has a one year low of $16.93 and a one year high of $25.17. The company has a market cap of $1.61 billion, a P/E ratio of 14.75 and a beta of 0.60. The company has a debt-to-equity ratio of 1.17, a quick ratio of 3.39 and a current ratio of 3.39. The business’s 50-day simple moving average is $18.06 and its 200-day simple moving average is $19.61.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings data 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 net margin of 25.25% and a return on equity of 11.92%. The business had revenue of $93.40 million during the quarter, compared to analysts’ expectations of $103.14 million. During the same quarter in the previous year, the company posted $0.58 EPS. As a group, equities research analysts expect that Sixth Street Specialty Lending will post 1.71 EPS for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 9.9%. The ex-dividend date is Monday, June 15th. This is an increase from Sixth Street Specialty Lending’s previous quarterly dividend of $0.01. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is currently 160.00%.

Insider Transactions at Sixth Street Specialty Lending

In other news, VP Ross Anthony Bruck purchased 8,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were purchased at an average price of $17.76 per share, for a total transaction of $142,080.00. Following the purchase, the vice president directly owned 18,250 shares of the company’s stock, valued at $324,120. This represents a 78.05% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.83% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC grew its stake in Sixth Street Specialty Lending by 673.2% during the 4th quarter. Harbor Investment Advisory LLC now owns 1,732 shares of the financial services provider’s stock worth $38,000 after buying an additional 1,508 shares during the last quarter. Fifth Third Bancorp purchased a new position in Sixth Street Specialty Lending during the 1st quarter worth approximately $63,000. Advisory Services Network LLC purchased a new position in Sixth Street Specialty Lending during the 3rd quarter worth approximately $75,000. Redmont Wealth Advisors LLC purchased a new position in Sixth Street Specialty Lending during the 3rd quarter worth approximately $79,000. Finally, SG Americas Securities LLC purchased a new position in Sixth Street Specialty Lending during the 4th quarter worth approximately $108,000. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Sixth Street Specialty Lending Company Profile

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.