Analysts Set Sixth Street Specialty Lending, Inc. (NYSE:TSLX) PT at $22.67

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) has earned an average rating of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $22.67.

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

Sixth Street Specialty Lending Stock Performance

NYSE:TSLX opened at $20.74 on Friday. The stock has a 50 day simple moving average of $20.78 and a 200 day simple moving average of $21.11. The stock has a market cap of $1.93 billion, a P/E ratio of 8.79 and a beta of 1.06. Sixth Street Specialty Lending has a 1-year low of $19.02 and a 1-year high of $22.35. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 1.07.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. Sixth Street Specialty Lending had a net margin of 44.55% and a return on equity of 13.76%. The company had revenue of $121.82 million during the quarter, compared to analysts’ expectations of $120.33 million. During the same quarter in the previous year, the business posted $0.58 earnings per share. Research 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 company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 8.87%. This is a boost from Sixth Street Specialty Lending’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Monday, September 16th. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is 77.97%.

Insiders Place Their Bets

In other Sixth Street Specialty Lending news, Director Judy S. Slotkin purchased 7,015 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were bought at an average price of $19.90 per share, for a total transaction of $139,598.50. Following the purchase, the director now owns 18,726 shares in the company, valued at approximately $372,647.40. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TSLX. Sound Income Strategies LLC boosted its holdings in shares of 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 valued at $44,366,000 after acquiring an additional 80,581 shares in the last quarter. Confluence Investment Management LLC bought a new position in Sixth Street Specialty Lending in the first quarter valued at about $5,212,000. Baillie Gifford & Co. boosted its stake in shares of Sixth Street Specialty Lending by 41.7% during the first quarter. Baillie Gifford & Co. now owns 225,420 shares of the financial services provider’s stock valued at $4,831,000 after purchasing an additional 66,348 shares in the last quarter. Naviter Wealth LLC bought a new stake in shares of Sixth Street Specialty Lending during the first quarter worth about $1,326,000. Finally, LSV Asset Management increased its stake in shares of Sixth Street Specialty Lending by 7.3% in the first quarter. LSV Asset Management now owns 1,215,312 shares of the financial services provider’s stock valued at $26,044,000 after buying an additional 82,398 shares during the period. 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 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.