Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Given Average Recommendation of “Moderate Buy” by Brokerages

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) has earned an average rating of “Moderate Buy” from the nine ratings firms that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $22.25.

Several equities research analysts have commented on TSLX shares. Truist Financial dropped their price target on shares of Sixth Street Specialty Lending from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Tuesday, February 17th. Keefe, Bruyette & Woods dropped their target price on shares of Sixth Street Specialty Lending from $23.00 to $22.00 and set an “outperform” rating on the stock in a report on Tuesday, February 17th. Royal Bank Of Canada reduced their target price on shares of Sixth Street Specialty Lending from $24.00 to $22.00 and set an “outperform” rating for the company in a report on Friday, February 20th. JPMorgan Chase & Co. decreased their price target on shares of Sixth Street Specialty Lending from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 17th. Finally, Weiss Ratings downgraded Sixth Street Specialty Lending from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday.

Sixth Street Specialty Lending Stock Performance

TSLX opened at $18.09 on Wednesday. The business has a 50 day moving average price of $21.11 and a two-hundred day moving average price of $22.13. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.83 and a quick ratio of 2.83. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 9.99 and a beta of 0.70. Sixth Street Specialty Lending has a 1-year low of $17.72 and a 1-year high of $25.17.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings data on Thursday, February 12th. The financial services provider reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.20). Sixth Street Specialty Lending had a return on equity of 12.71% and a net margin of 37.99%.The firm had revenue of $108.25 million during the quarter, compared to the consensus estimate of $107.11 million. During the same period in the prior year, the firm posted $0.61 EPS. Research analysts predict that Sixth Street Specialty Lending will post 2.19 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, March 16th. Sixth Street Specialty Lending’s dividend payout ratio is currently 101.66%.

Hedge Funds Weigh In On Sixth Street Specialty Lending

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TSLX. Caprock Group LLC purchased a new position in shares of Sixth Street Specialty Lending during the third quarter valued at $1,478,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in Sixth Street Specialty Lending by 25.8% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 662,896 shares of the financial services provider’s stock worth $15,154,000 after acquiring an additional 135,789 shares in the last quarter. 1832 Asset Management L.P. boosted its position in Sixth Street Specialty Lending by 13.0% during the 2nd quarter. 1832 Asset Management L.P. now owns 395,347 shares of the financial services provider’s stock worth $9,413,000 after acquiring an additional 45,347 shares during the period. Tred Avon Family Wealth LLC acquired a new stake in Sixth Street Specialty Lending during the 3rd quarter worth about $1,028,000. Finally, Rockefeller Capital Management L.P. grew its stake in Sixth Street Specialty Lending by 7.3% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 207,112 shares of the financial services provider’s stock valued at $4,931,000 after acquiring an additional 14,104 shares in the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

About Sixth Street Specialty Lending

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.