Sixth Street Specialty Lending (NYSE:TSLX) Upgraded to Buy at LADENBURG THALM/SH SH

LADENBURG THALM/SH SH upgraded shares of Sixth Street Specialty Lending (NYSE:TSLX) from a neutral rating to a buy rating in a research note published on Wednesday, Marketbeat Ratings reports. The brokerage currently has $21.00 price target on the financial services provider’s stock.

A number of other research analysts also recently weighed in on TSLX. Wells Fargo & Company decreased their price target on Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $23.00 price objective on shares of Sixth Street Specialty Lending in a research report on Thursday, August 15th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $22.00.

Sixth Street Specialty Lending Stock Down 1.7 %

TSLX stock traded down $0.35 during mid-day trading on Wednesday, reaching $19.91. The company had a trading volume of 228,980 shares, compared to its average volume of 348,094. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a 50 day simple moving average of $20.68 and a two-hundred day simple moving average of $21.07. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 8.44 and a beta of 1.06. Sixth Street Specialty Lending has a 52 week low of $19.50 and a 52 week high of $22.35.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. The firm had revenue of $119.22 million during the quarter, compared to the consensus estimate of $119.85 million. Sixth Street Specialty Lending had a return on equity of 13.76% and a net margin of 44.55%. During the same period last year, the company earned $0.60 earnings per share. As a group, equities analysts predict that Sixth Street Specialty Lending will post 2.31 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The firm also recently disclosed a — dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 29th will be given a $0.05 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a dividend yield of 9.1%. Sixth Street Specialty Lending’s payout ratio is 77.97%.

Institutional Trading of Sixth Street Specialty Lending

Hedge funds have recently added to or reduced their stakes in the company. LSV Asset Management lifted its position in shares of Sixth Street Specialty Lending by 7.3% during the 1st quarter. LSV Asset Management now owns 1,215,312 shares of the financial services provider’s stock valued at $26,044,000 after acquiring an additional 82,398 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Sixth Street Specialty Lending during the 1st quarter worth approximately $552,000. Allen Investment Management LLC boosted its position in shares of Sixth Street Specialty Lending by 18.3% during the 1st quarter. Allen Investment Management LLC now owns 616,979 shares of the financial services provider’s stock worth $13,222,000 after acquiring an additional 95,410 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Sixth Street Specialty Lending by 5.4% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 572,480 shares of the financial services provider’s stock valued at $12,222,000 after purchasing an additional 29,365 shares during the last quarter. Finally, Private Advisor Group LLC lifted its stake in Sixth Street Specialty Lending by 26.8% in the 3rd quarter. Private Advisor Group LLC now owns 25,503 shares of the financial services provider’s stock valued at $524,000 after purchasing an additional 5,398 shares during the last quarter. 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.