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

Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) have been assigned a consensus rating of “Buy” from the nine ratings firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $23.2778.

TSLX has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their price target on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Raymond James Financial dropped their price target on Sixth Street Specialty Lending from $24.00 to $23.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Wells Fargo & Company raised their price target on Sixth Street Specialty Lending from $21.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. B. Riley started coverage on Sixth Street Specialty Lending in a research note on Tuesday, May 13th. They issued a “buy” rating and a $23.00 target price on the stock. Finally, JMP Securities lifted their target price on Sixth Street Specialty Lending from $24.00 to $25.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 6th.

Sixth Street Specialty Lending Trading Up 0.3%

NYSE:TSLX opened at $24.28 on Friday. The stock’s 50 day moving average price is $23.86 and its 200 day moving average price is $22.60. The company has a market capitalization of $2.29 billion, a PE ratio of 12.08 and a beta of 0.84. The company has a quick ratio of 3.79, a current ratio of 3.79 and a debt-to-equity ratio of 1.07. Sixth Street Specialty Lending has a 52-week low of $18.58 and a 52-week high of $25.17.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.03. The firm had revenue of $115.00 million for the quarter, compared to the consensus estimate of $110.42 million. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 39.56%. During the same quarter last year, the business posted $0.58 EPS. On average, research analysts anticipate that Sixth Street Specialty Lending will post 2.19 EPS for the current year.

Sixth Street Specialty Lending Increases Dividend

The firm also recently declared a — dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a dividend yield of 770.0%. This is an increase from Sixth Street Specialty Lending’s previous — dividend of $0.06. Sixth Street Specialty Lending’s payout ratio is 91.54%.

Institutional Trading of Sixth Street Specialty Lending

Several hedge funds have recently modified their holdings of the business. SCS Capital Management LLC lifted its holdings in shares of Sixth Street Specialty Lending by 2.9% in the 2nd quarter. SCS Capital Management LLC now owns 622,522 shares of the financial services provider’s stock valued at $14,822,000 after buying an additional 17,290 shares during the period. Marshall Wace LLP lifted its holdings in shares of Sixth Street Specialty Lending by 186.6% in the 2nd quarter. Marshall Wace LLP now owns 75,811 shares of the financial services provider’s stock valued at $1,805,000 after buying an additional 49,362 shares during the period. Invesco Ltd. lifted its holdings in shares of Sixth Street Specialty Lending by 8.0% in the 2nd quarter. Invesco Ltd. now owns 30,628 shares of the financial services provider’s stock valued at $729,000 after buying an additional 2,263 shares during the period. 1832 Asset Management L.P. lifted its holdings in shares of Sixth Street Specialty Lending by 13.0% in the 2nd quarter. 1832 Asset Management L.P. now owns 395,347 shares of the financial services provider’s stock valued at $9,413,000 after buying an additional 45,347 shares during the period. Finally, Plan Group Financial LLC lifted its holdings in shares of Sixth Street Specialty Lending by 32.1% in the 2nd quarter. Plan Group Financial LLC now owns 51,428 shares of the financial services provider’s stock valued at $1,224,000 after buying an additional 12,505 shares during the period. 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.