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

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) has earned a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $22.67.

Separately, Royal Bank of Canada reiterated an “outperform” rating and issued a $23.00 target price on shares of Sixth Street Specialty Lending in a research note on Thursday, August 15th.

Sixth Street Specialty Lending Stock Down 0.6 %

NYSE TSLX opened at $20.50 on Wednesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a 50-day simple moving average of $20.91 and a 200 day simple moving average of $21.18. Sixth Street Specialty Lending has a twelve month low of $19.02 and a twelve month high of $22.35. The stock has a market cap of $1.90 billion, a PE ratio of 8.26 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX) last released its earnings results on Wednesday, July 31st. The financial services provider reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.01. Sixth Street Specialty Lending had a net margin of 44.55% and a return on equity of 13.76%. The business had revenue of $121.82 million during the quarter, compared to analysts’ expectations of $120.33 million. During the same quarter last year, the company earned $0.58 earnings per share. On average, research analysts forecast that Sixth Street Specialty Lending will post 2.31 EPS for the current year.

Sixth Street Specialty Lending Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.46 per share. This is a boost from Sixth Street Specialty Lending’s previous quarterly dividend of $0.06. The ex-dividend date is Monday, September 16th. This represents a $1.84 dividend on an annualized basis and a yield of 8.98%. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is currently 74.19%.

Insiders Place Their Bets

In other Sixth Street Specialty Lending news, Director Judy S. Slotkin purchased 7,015 shares of the business’s stock in a transaction on Monday, August 5th. The stock was purchased at an average price of $19.90 per share, for a total transaction of $139,598.50. Following the completion of the purchase, the director now directly owns 18,726 shares in the company, valued at $372,647.40. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Sound Income Strategies LLC raised its stake in shares of 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 valued at $44,366,000 after acquiring an additional 80,581 shares during the last quarter. Confluence Investment Management LLC bought a new position in shares of Sixth Street Specialty Lending in the first quarter valued at approximately $5,212,000. Baillie Gifford & Co. increased its holdings in shares of Sixth Street Specialty Lending by 41.7% in the first quarter. Baillie Gifford & Co. now owns 225,420 shares of the financial services provider’s stock valued at $4,831,000 after purchasing an additional 66,348 shares in the last quarter. MGO One Seven LLC increased its holdings in shares of Sixth Street Specialty Lending by 3,380.9% in the fourth quarter. MGO One Seven LLC now owns 553,876 shares of the financial services provider’s stock valued at $11,964,000 after purchasing an additional 537,964 shares in the last quarter. Finally, Naviter Wealth LLC acquired a new stake in shares of Sixth Street Specialty Lending in the first quarter valued at approximately $1,326,000. Institutional investors 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.