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

Key Points

• Sixth Street Specialty Lending, Inc. received a consensus rating of "Buy" from nine brokerage firms, with an average price target of $23.28.
• The company reported quarterly earnings of $0.56 per share, exceeding the consensus estimate of $0.53, and had revenue of $115 million compared to expectations of $110.42 million.
• Sixth Street Specialty Lending announced a quarterly dividend of $0.05 per share, representing an annual yield of 0.9%, with a current payout ratio of 91.54%.

Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report) has been given a consensus recommendation of "Buy" by the nine ratings firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $23.2778.

TSLX has been the subject of a number of recent analyst reports. JMP Securities increased their target price on shares of Sixth Street Specialty Lending from $24.00 to $25.00 and gave the company a "market outperform" rating in a research report on Wednesday, August 6th. Wells Fargo & Company increased their target price on Sixth Street Specialty Lending from $21.00 to $24.00 and gave the stock an "overweight" rating in a report on Friday, August 1st.

Institutional Trading of Sixth Street Specialty Lending

A number of hedge funds have recently bought and sold shares of the business. Texas Yale Capital Corp. increased its stake in shares of Sixth Street Specialty Lending by 1.4% during the 2nd quarter. Texas Yale Capital Corp. now owns 35,500 shares of the financial services provider's stock worth $845,000 after purchasing an additional 500 shares during the last quarter. Cornerstone Wealth Management LLC grew its holdings in Sixth Street Specialty Lending by 1.2% during the 1st quarter. Cornerstone Wealth Management LLC now owns 46,732 shares of the financial services provider's stock valued at $1,046,000 after buying an additional 548 shares in the last quarter. Mallini Complete Financial Planning LLC boosted its holdings in Sixth Street Specialty Lending by 4.5% in the 1st quarter. Mallini Complete Financial Planning LLC now owns 13,028 shares of the financial services provider's stock valued at $292,000 after purchasing an additional 558 shares during the period. Parallel Advisors LLC boosted its stake in Sixth Street Specialty Lending by 4.3% during the first quarter. Parallel Advisors LLC now owns 20,708 shares of the financial services provider's stock valued at $463,000 after buying an additional 848 shares during the period. Finally, Mirador Capital Partners LP raised its holdings in shares of Sixth Street Specialty Lending by 4.4% in the 2nd quarter. Mirador Capital Partners LP now owns 21,920 shares of the financial services provider's stock valued at $522,000 after acquiring an additional 919 shares in the last quarter. 70.25% of the stock is currently owned by institutional investors.

Sixth Street Specialty Lending Price Performance

Shares of NYSE:TSLX opened at $22.79 on Friday. The firm has a 50 day simple moving average of $24.03 and a 200 day simple moving average of $22.91. 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 $2.15 billion, a price-to-earnings ratio of 11.34 and a beta of 0.85. The company has a debt-to-equity ratio of 1.07, a current ratio of 3.79 and a quick ratio of 3.79.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.03. The company had revenue of $115.00 million for the quarter, compared to analysts' expectations of $110.42 million. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 39.56%.During the same period in the previous year, the business posted $0.58 earnings per share. Research analysts predict that Sixth Street Specialty Lending will post 2.19 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Monday, September 15th. Sixth Street Specialty Lending's payout ratio is currently 91.54%.

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.

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