Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Receives Average Recommendation of "Buy" from Brokerages

Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report) has been given an average rating of "Buy" by the eight ratings firms that are covering the firm, MarketBeat.com reports. One analyst has 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 12 month price target among brokers that have covered the stock in the last year is $22.81.

A number of equities analysts have recently issued reports on TSLX shares. B. Riley initiated coverage on shares of Sixth Street Specialty Lending in a research note on Tuesday, May 13th. They set a "buy" rating and a $23.00 price objective on the stock. Raymond James Financial decreased their target price on shares of Sixth Street Specialty Lending from $24.00 to $23.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. JPMorgan Chase & Co. decreased their target price on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Finally, Wells Fargo & Company decreased their target price on shares of Sixth Street Specialty Lending from $23.00 to $22.00 and set an "overweight" rating for the company in a research report on Monday, April 28th.

Sixth Street Specialty Lending Stock Down 0.5%

Shares of NYSE TSLX traded down $0.12 during midday trading on Tuesday, reaching $24.98. 178,680 shares of the company's stock traded hands, compared to its average volume of 398,482. The company has a quick ratio of 3.06, a current ratio of 3.06 and a debt-to-equity ratio of 1.15. The stock's 50 day simple moving average is $23.24 and its 200-day simple moving average is $22.22. Sixth Street Specialty Lending has a one year low of $18.58 and a one year high of $25.17. The company has a market cap of $2.35 billion, a price-to-earnings ratio of 13.21 and a beta of 0.83.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.56 by $0.02. Sixth Street Specialty Lending had a net margin of 36.59% and a return on equity of 13.60%. The firm had revenue of $113.92 billion for the quarter, compared to the consensus estimate of $116.70 million. During the same period last year, the firm earned $0.52 earnings per share. On average, analysts predict 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 declared a dividend, which was paid on Friday, June 20th. Shareholders of record on Monday, June 2nd were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a dividend yield of 9.21%. Sixth Street Specialty Lending's dividend payout ratio is currently 97.35%.

Institutional Trading of Sixth Street Specialty Lending

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Strs Ohio acquired a new stake in shares of Sixth Street Specialty Lending in the first quarter worth $79,698,000. Sound Income Strategies LLC increased its stake in shares of Sixth Street Specialty Lending by 1.9% in the second quarter. Sound Income Strategies LLC now owns 2,406,296 shares of the financial services provider's stock worth $57,294,000 after acquiring an additional 45,157 shares during the period. Progeny 3 Inc. increased its stake in shares of Sixth Street Specialty Lending by 6.1% in the fourth quarter. Progeny 3 Inc. now owns 2,390,680 shares of the financial services provider's stock worth $50,921,000 after acquiring an additional 137,906 shares during the period. Burgundy Asset Management Ltd. increased its stake in shares of Sixth Street Specialty Lending by 7.0% in the first quarter. Burgundy Asset Management Ltd. now owns 2,347,046 shares of the financial services provider's stock worth $52,527,000 after acquiring an additional 154,560 shares during the period. Finally, Allen Investment Management LLC increased its stake in shares of Sixth Street Specialty Lending by 24.4% in the first quarter. Allen Investment Management LLC now owns 1,434,920 shares of the financial services provider's stock worth $32,114,000 after acquiring an additional 281,339 shares during the period. Institutional investors and hedge funds 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.