Brokerages Set Sixth Street Specialty Lending, Inc. (NYSE:TSLX) PT at $21.94

Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) have been assigned a consensus rating of “Moderate Buy” from the nine analysts that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $21.9375.

A number of brokerages have weighed in on TSLX. Keefe, Bruyette & Woods cut their price target on shares of Sixth Street Specialty Lending from $23.00 to $22.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 17th. Truist Financial dropped their price objective on shares of Sixth Street Specialty Lending from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. Royal Bank Of Canada cut their price objective on shares of Sixth Street Specialty Lending from $24.00 to $22.00 and set an “outperform” rating on the stock in a research report on Friday, February 20th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $25.00 target price on shares of Sixth Street Specialty Lending in a research note on Wednesday, February 18th. Finally, Wall Street Zen cut Sixth Street Specialty Lending from a “hold” rating to a “sell” rating in a report on Saturday, March 7th.

Insider Activity

In other news, VP Alan Waxman bought 200,000 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were acquired at an average price of $18.18 per share, with a total value of $3,636,000.00. Following the transaction, the vice president owned 500,000 shares in the company, valued at $9,090,000. This represents a 66.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders bought 545,000 shares of company stock worth $9,997,150 in the last ninety days. 3.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sixth Street Specialty Lending

Several hedge funds have recently made changes to their positions in TSLX. Van ECK Associates Corp raised its holdings in shares of Sixth Street Specialty Lending by 18.0% in the third quarter. Van ECK Associates Corp now owns 2,529,187 shares of the financial services provider’s stock valued at $57,817,000 after purchasing an additional 385,398 shares during the last quarter. Sound Income Strategies LLC boosted its holdings in Sixth Street Specialty Lending by 4.5% during the fourth quarter. Sound Income Strategies LLC now owns 2,511,115 shares of the financial services provider’s stock worth $55,998,000 after purchasing an additional 108,708 shares during the last quarter. Progeny 3 Inc. boosted its holdings in Sixth Street Specialty Lending by 1.0% during the second quarter. Progeny 3 Inc. now owns 2,476,398 shares of the financial services provider’s stock worth $58,963,000 after purchasing an additional 23,451 shares during the last quarter. Burgundy Asset Management Ltd. grew its position in Sixth Street Specialty Lending by 1.4% in the second quarter. Burgundy Asset Management Ltd. now owns 2,378,968 shares of the financial services provider’s stock valued at $56,643,000 after purchasing an additional 31,922 shares in the last quarter. Finally, Bank of Montreal Can grew its position in Sixth Street Specialty Lending by 419.5% in the fourth quarter. Bank of Montreal Can now owns 2,284,920 shares of the financial services provider’s stock valued at $49,628,000 after purchasing an additional 1,845,088 shares in the last quarter. 70.25% of the stock is owned by institutional investors.

Sixth Street Specialty Lending Trading Down 2.5%

NYSE TSLX opened at $17.75 on Friday. The firm has a market cap of $1.68 billion, a P/E ratio of 9.81 and a beta of 0.73. 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 stock’s 50-day moving average is $19.68 and its 200-day moving average is $21.26. Sixth Street Specialty Lending has a one year low of $16.99 and a one year high of $25.17.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its quarterly earnings data 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 net margin of 37.99% and a return on equity of 12.71%. The business had revenue of $108.25 million during the quarter, compared to analyst estimates of $107.11 million. During the same quarter in the prior year, the firm posted $0.61 earnings per share. Sell-side analysts anticipate that Sixth Street Specialty Lending will post 2.19 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be given 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%.

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.