Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Receives $21.94 Consensus Target Price from Analysts

Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) have received a consensus rating of “Moderate Buy” from the nine research firms that are presently 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 given a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $21.9375.

A number of brokerages have recently weighed in on TSLX. Wall Street Zen lowered shares of Sixth Street Specialty Lending from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Citizens Jmp reaffirmed a “market outperform” rating and set a $25.00 target price on shares of Sixth Street Specialty Lending in a report on Wednesday, February 18th. Keefe, Bruyette & Woods decreased 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 research report on Tuesday, February 17th. Royal Bank Of Canada lowered their price target on shares of Sixth Street Specialty Lending from $24.00 to $22.00 and set an “outperform” rating for the company in a research note on Friday, February 20th. Finally, Wells Fargo & Company cut their price target on shares of Sixth Street Specialty Lending from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Tuesday, February 17th.

Sixth Street Specialty Lending Stock Performance

Shares of NYSE TSLX opened at $17.51 on Friday. The stock’s 50-day moving average is $19.40 and its 200 day moving average is $21.14. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 9.67 and a beta of 0.73. Sixth Street Specialty Lending has a 1-year low of $16.99 and a 1-year high of $25.17. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 1.08.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its earnings results on Thursday, February 12th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $107.11 million. During the same period in the prior year, the company earned $0.61 EPS. On average, sell-side analysts anticipate 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 paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, March 16th. Sixth Street Specialty Lending’s payout ratio is 101.66%.

Insiders Place Their Bets

In related news, VP Alan Waxman purchased 45,000 shares of Sixth Street Specialty Lending stock in a transaction that occurred on Tuesday, March 10th. The shares were acquired at an average cost of $18.47 per share, for a total transaction of $831,150.00. Following the transaction, the vice president directly owned 545,000 shares in the company, valued at $10,066,150. The trade was a 9.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders bought 545,000 shares of company stock worth $9,997,150. Corporate insiders own 3.22% of the company’s stock.

Institutional Trading of Sixth Street Specialty Lending

Several hedge funds and other institutional investors have recently bought and sold shares of TSLX. Harbor Investment Advisory LLC grew its holdings in shares of Sixth Street Specialty Lending by 673.2% in the fourth quarter. Harbor Investment Advisory LLC now owns 1,732 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 1,508 shares during the last quarter. Advisory Services Network LLC bought a new stake in Sixth Street Specialty Lending during the 3rd quarter valued at $75,000. Redmont Wealth Advisors LLC bought a new stake in Sixth Street Specialty Lending during the 3rd quarter valued at $79,000. MAI Capital Management boosted its position in Sixth Street Specialty Lending by 83.5% during the 2nd quarter. MAI Capital Management now owns 4,264 shares of the financial services provider’s stock valued at $102,000 after buying an additional 1,940 shares during the period. Finally, State of Alaska Department of Revenue purchased a new stake in Sixth Street Specialty Lending during the 3rd quarter valued at $98,000. Institutional investors own 70.25% of the company’s stock.

Sixth Street Specialty Lending Company Profile

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.