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

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) has been assigned an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $22.60.

Several equities research analysts have recently weighed in on TSLX shares. Truist Financial increased their price objective on Sixth Street Specialty Lending from $22.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, February 20th. JMP Securities reissued a “market outperform” rating and issued a $22.50 price objective on shares of Sixth Street Specialty Lending in a report on Tuesday, March 26th. Wells Fargo & Company increased their price objective on Sixth Street Specialty Lending from $21.00 to $22.50 and gave the company an “overweight” rating in a report on Monday, January 29th. Finally, Royal Bank of Canada increased their price objective on Sixth Street Specialty Lending from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, February 23rd.

Sixth Street Specialty Lending Stock Performance

Shares of TSLX opened at $21.13 on Friday. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 8.13 and a beta of 1.04. Sixth Street Specialty Lending has a 52-week low of $17.31 and a 52-week high of $22.35. The stock has a 50 day moving average price of $21.15 and a 200 day moving average price of $21.06. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.19.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings data on Friday, February 16th. The financial services provider reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.04. The business had revenue of $119.50 million during the quarter, compared to the consensus estimate of $115.18 million. Sixth Street Specialty Lending had a return on equity of 13.67% and a net margin of 50.69%. During the same period in the prior year, the company earned $0.65 earnings per share. Research analysts predict that Sixth Street Specialty Lending will post 2.35 EPS for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a dividend of $0.08 per share. The ex-dividend date was Thursday, March 14th. This is an increase from Sixth Street Specialty Lending’s previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a dividend yield of 1.51%. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is currently 70.77%.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Hedge funds have recently modified their holdings of the stock. Strs Ohio raised its position in Sixth Street Specialty Lending by 2.6% in the fourth quarter. Strs Ohio now owns 3,134,865 shares of the financial services provider’s stock worth $67,713,000 after acquiring an additional 79,180 shares in the last quarter. Sound Income Strategies LLC raised its position in Sixth Street Specialty Lending by 4.0% in the first quarter. Sound Income Strategies LLC now owns 2,070,259 shares of the financial services provider’s stock worth $44,366,000 after acquiring an additional 80,581 shares in the last quarter. Burgundy Asset Management Ltd. raised its position in Sixth Street Specialty Lending by 3.2% in the fourth quarter. Burgundy Asset Management Ltd. now owns 2,057,960 shares of the financial services provider’s stock worth $44,452,000 after acquiring an additional 63,281 shares in the last quarter. Van ECK Associates Corp raised its position in Sixth Street Specialty Lending by 11.0% in the fourth quarter. Van ECK Associates Corp now owns 1,604,944 shares of the financial services provider’s stock worth $34,667,000 after acquiring an additional 158,746 shares in the last quarter. Finally, Callodine Capital Management LP raised its position in Sixth Street Specialty Lending by 5.6% in the third quarter. Callodine Capital Management LP now owns 1,410,030 shares of the financial services provider’s stock worth $28,821,000 after acquiring an additional 75,000 shares in the last quarter. 70.25% of the stock is owned by institutional investors and hedge funds.

About Sixth Street Specialty Lending

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.