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

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) has been assigned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $22.67.

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

Sixth Street Specialty Lending Stock Up 0.4 %

NYSE TSLX opened at $20.83 on Friday. The business’s fifty day simple moving average is $20.78 and its 200-day simple moving average is $21.11. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 1.07. The firm has a market cap of $1.94 billion, a PE ratio of 8.83 and a beta of 1.06. Sixth Street Specialty Lending has a 52 week low of $19.02 and a 52 week high of $22.35.

Sixth Street Specialty Lending (NYSE:TSLX) last issued 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. The company had revenue of $121.82 million for the quarter, compared to the consensus estimate of $120.33 million. Sixth Street Specialty Lending had a net margin of 44.55% and a return on equity of 13.76%. During the same period in the previous year, the firm earned $0.58 earnings per share. As a group, equities 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 business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.46 dividend. This is a positive change from Sixth Street Specialty Lending’s previous quarterly dividend of $0.06. This represents a $1.84 annualized dividend and a dividend yield of 8.83%. The ex-dividend date was Monday, September 16th. Sixth Street Specialty Lending’s dividend payout ratio is currently 77.97%.

Insider Activity at Sixth Street Specialty Lending

In other news, Director Judy S. Slotkin purchased 7,015 shares of the stock in a transaction dated Monday, August 5th. The stock was acquired at an average cost of $19.90 per share, for a total transaction of $139,598.50. Following the completion of the transaction, the director now directly owns 18,726 shares in the company, valued at approximately $372,647.40. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 3.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Sixth Street Specialty Lending

Several institutional investors have recently bought and sold shares of the company. Confluence Investment Management LLC purchased a new stake in Sixth Street Specialty Lending during the 1st quarter worth approximately $5,212,000. Worth Asset Management LLC boosted its holdings in Sixth Street Specialty Lending by 9.3% in the first quarter. Worth Asset Management LLC now owns 13,119 shares of the financial services provider’s stock valued at $281,000 after purchasing an additional 1,114 shares during the period. Sound Income Strategies LLC grew its stake in Sixth Street Specialty Lending by 4.0% during the 1st quarter. Sound Income Strategies LLC now owns 2,070,259 shares of the financial services provider’s stock worth $44,366,000 after purchasing an additional 80,581 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in Sixth Street Specialty Lending during the 1st quarter worth about $90,000. Finally, Register Financial Advisors LLC raised its position in Sixth Street Specialty Lending by 15.5% in the 1st quarter. Register Financial Advisors LLC now owns 7,574 shares of the financial services provider’s stock valued at $162,000 after purchasing an additional 1,018 shares in the last quarter. 70.25% of the stock is owned by institutional investors and hedge funds.

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.