Brokerages Set Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Target Price at $22.81

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) has been given an average rating of “Buy” by the eight brokerages that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $22.81.

Several brokerages recently issued reports on TSLX. Raymond James Financial cut their price objective on shares of Sixth Street Specialty Lending from $24.00 to $23.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Royal Bank Of Canada lifted their price objective on shares of Sixth Street Specialty Lending from $23.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. decreased their target price on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an “overweight” rating for the company in a research report on Thursday, April 24th. Wells Fargo & Company cut their price objective on shares of Sixth Street Specialty Lending from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Monday, April 28th. Finally, B. Riley started coverage on shares of Sixth Street Specialty Lending in a report on Tuesday, May 13th. They issued a “buy” rating and a $23.00 price objective for the company.

Sixth Street Specialty Lending Stock Up 1.2%

Shares of NYSE:TSLX opened at $23.14 on Friday. The company has a current ratio of 3.06, a quick ratio of 3.06 and a debt-to-equity ratio of 1.15. Sixth Street Specialty Lending has a 12 month low of $18.58 and a 12 month high of $23.75. The company has a 50-day moving average price of $22.08 and a 200 day moving average price of $21.89. The company has a market cap of $2.17 billion, a price-to-earnings ratio of 12.25 and a beta of 0.83.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. Sixth Street Specialty Lending had a net margin of 36.59% and a return on equity of 13.60%. The company had revenue of $113.92 billion for the quarter, compared to analyst estimates of $116.70 million. During the same period in the prior year, the company posted $0.52 EPS. As a group, equities research analysts predict that Sixth Street Specialty Lending will post 2.19 earnings per share for the current year.

Sixth Street Specialty Lending Cuts Dividend

The firm also recently announced a dividend, which was paid on Friday, June 20th. Investors of record on Monday, June 2nd were paid a dividend of $0.06 per share. This represents a yield of 9.21%. The ex-dividend date of this dividend was Friday, May 30th. Sixth Street Specialty Lending’s payout ratio is currently 97.35%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TSLX. Strs Ohio purchased a new position in Sixth Street Specialty Lending during the 1st quarter valued at about $79,698,000. Raymond James Financial Inc. acquired a new stake in shares of Sixth Street Specialty Lending in the fourth quarter worth approximately $17,488,000. SCS Capital Management LLC acquired a new stake in shares of Sixth Street Specialty Lending in the first quarter worth approximately $13,545,000. Gilman Hill Asset Management LLC lifted its position in Sixth Street Specialty Lending by 382.4% during the first quarter. Gilman Hill Asset Management LLC now owns 446,976 shares of the financial services provider’s stock valued at $10,003,000 after buying an additional 354,320 shares in the last quarter. Finally, Allen Investment Management LLC lifted its position in Sixth Street Specialty Lending by 24.4% during the first quarter. Allen Investment Management LLC now owns 1,434,920 shares of the financial services provider’s stock valued at $32,114,000 after buying an additional 281,339 shares in the last quarter. 70.25% of the stock is owned by hedge funds and other institutional investors.

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.