Brokerages Set Sixth Street Specialty Lending, Inc. (NYSE:TSLX) PT at $22.67

Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) have been given a consensus recommendation of “Moderate Buy” by the six research firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $22.67.

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 target price on shares of Sixth Street Specialty Lending in a report on Thursday, August 15th.

Insider Activity

In related news, Director Judy S. Slotkin acquired 7,015 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average cost of $19.90 per share, with a total value of $139,598.50. Following the transaction, the director now owns 18,726 shares of the company’s stock, valued at approximately $372,647.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Institutional investors have recently added to or reduced their stakes in the stock. EntryPoint Capital LLC bought a new stake in Sixth Street Specialty Lending in the 1st quarter valued at $35,000. Cape Investment Advisory Inc. bought a new stake in Sixth Street Specialty Lending in the 4th quarter valued at $65,000. Security National Bank bought a new stake in Sixth Street Specialty Lending during the 4th quarter worth about $68,000. nVerses Capital LLC bought a new stake in Sixth Street Specialty Lending during the 2nd quarter worth about $70,000. Finally, Ridgewood Investments LLC bought a new stake in Sixth Street Specialty Lending during the 2nd quarter worth about $77,000. 70.25% of the stock is owned by institutional investors.

Sixth Street Specialty Lending Price Performance

TSLX opened at $20.50 on Wednesday. The company has a fifty day moving average price of $20.91 and a two-hundred day moving average price of $21.18. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.90 and a current ratio of 1.90. Sixth Street Specialty Lending has a 52 week low of $19.02 and a 52 week high of $22.35. The firm has a market capitalization of $1.90 billion, a PE ratio of 8.26 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX) last released its earnings results on Wednesday, July 31st. The financial services provider reported $0.58 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $121.82 million during the quarter, compared to analyst estimates of $120.33 million. During the same quarter in the previous year, the business earned $0.58 EPS. As a group, analysts anticipate that Sixth Street Specialty Lending will post 2.31 earnings per share for the current year.

Sixth Street Specialty Lending Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.46 dividend. This is a positive change from Sixth Street Specialty Lending’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.84 annualized dividend and a dividend yield of 8.98%. Sixth Street Specialty Lending’s payout ratio is 74.19%.

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.