Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report) has been assigned a consensus recommendation of "Buy" from the eight research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $22.81.
Several brokerages have recently commented on TSLX. Raymond James Financial reduced their target price on Sixth Street Specialty Lending from $24.00 to $23.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Wells Fargo & Company dropped their price target on Sixth Street Specialty Lending from $23.00 to $22.00 and set an "overweight" rating for the company in a report on Monday, April 28th. JPMorgan Chase & Co. dropped their price target on Sixth Street Specialty Lending from $23.00 to $21.50 and set an "overweight" rating for the company in a report on Thursday, April 24th. Royal Bank Of Canada lifted their price target on Sixth Street Specialty Lending from $23.00 to $25.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Finally, B. Riley began coverage on Sixth Street Specialty Lending in a report on Tuesday, May 13th. They set a "buy" rating and a $23.00 price target for the company.
Check Out Our Latest Stock Report on TSLX
Hedge Funds Weigh In On Sixth Street Specialty Lending
Institutional investors have recently modified their holdings of the business. Ameriflex Group Inc. bought a new stake in Sixth Street Specialty Lending in the fourth quarter valued at approximately $27,000. AdvisorNet Financial Inc bought a new stake in Sixth Street Specialty Lending in the first quarter valued at approximately $40,000. First Horizon Advisors Inc. boosted its holdings in Sixth Street Specialty Lending by 25.3% in the fourth quarter. First Horizon Advisors Inc. now owns 2,302 shares of the financial services provider's stock valued at $49,000 after acquiring an additional 465 shares during the last quarter. Rossby Financial LCC bought a new stake in Sixth Street Specialty Lending in the first quarter valued at approximately $62,000. Finally, Redmont Wealth Advisors LLC bought a new stake in Sixth Street Specialty Lending in the first quarter valued at approximately $97,000. Institutional investors and hedge funds own 70.25% of the company's stock.
Sixth Street Specialty Lending Stock Performance
Shares of NYSE TSLX traded down $0.26 during midday trading on Friday, hitting $22.90. 534,489 shares of the company's stock were exchanged, compared to its average volume of 374,386. The company has a quick ratio of 3.06, a current ratio of 3.06 and a debt-to-equity ratio of 1.15. Sixth Street Specialty Lending has a 12 month low of $18.58 and a 12 month high of $23.75. The company's 50 day moving average price is $22.02 and its 200 day moving average price is $21.88. The firm has a market capitalization of $2.15 billion, a PE ratio of 12.12 and a beta of 0.83.
Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last issued its earnings results on Wednesday, April 30th. The financial services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.56 by $0.02. Sixth Street Specialty Lending had a return on equity of 13.60% and a net margin of 36.59%. The company had revenue of $113.92 billion during the quarter, compared to the consensus estimate of $116.70 million. During the same period in the previous year, the company posted $0.52 EPS. As a group, analysts predict that Sixth Street Specialty Lending will post 2.19 earnings per share for the current fiscal year.
Sixth Street Specialty Lending Cuts Dividend
The firm also recently declared a dividend, which was paid on Friday, June 20th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.06 per share. 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 (DPR) is currently 97.35%.
About Sixth Street Specialty Lending
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Get Free ReportSixth 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.
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