Brokerages Set Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Target Price at $22.00

Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) have been assigned a consensus rating of “Buy” from the six analysts that are covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have covered the stock in the last year is $22.00.

TSLX has been the topic of several analyst reports. LADENBURG THALM/SH SH upgraded Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price target on the stock in a report on Wednesday, November 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $23.00 target price on shares of Sixth Street Specialty Lending in a report on Tuesday, November 12th. Wells Fargo & Company cut their price target on shares of Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods decreased their price objective on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating on the stock in a report on Thursday, November 7th.

Hedge Funds Weigh In On Sixth Street Specialty Lending

Several institutional investors have recently bought and sold shares of the company. Columbus Macro LLC acquired a new stake in shares of Sixth Street Specialty Lending in the fourth quarter valued at $7,669,000. abrdn plc boosted its stake in shares of Sixth Street Specialty Lending by 23.5% in the 4th quarter. abrdn plc now owns 124,313 shares of the financial services provider’s stock valued at $2,647,000 after buying an additional 23,662 shares during the period. Round Rock Advisors LLC acquired a new position in shares of Sixth Street Specialty Lending during the fourth quarter worth about $1,789,000. Chicago Partners Investment Group LLC purchased a new stake in shares of Sixth Street Specialty Lending during the fourth quarter worth approximately $409,000. Finally, EMC Capital Management raised its holdings in Sixth Street Specialty Lending by 92.5% in the fourth quarter. EMC Capital Management now owns 6,747 shares of the financial services provider’s stock valued at $144,000 after acquiring an additional 3,242 shares in the last quarter. 70.25% of the stock is owned by institutional investors and hedge funds.

Sixth Street Specialty Lending Price Performance

Sixth Street Specialty Lending stock opened at $22.05 on Tuesday. The company has a fifty day simple moving average of $21.21 and a 200-day simple moving average of $20.93. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 10.70 and a beta of 1.05. Sixth Street Specialty Lending has a 52-week low of $19.50 and a 52-week high of $22.35.

Sixth Street Specialty Lending (NYSE:TSLX) last released its earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57. Sixth Street Specialty Lending had a net margin of 39.05% and a return on equity of 13.55%. The business had revenue of $119.22 million for the quarter, compared to analyst estimates of $119.85 million. During the same period last year, the company posted $0.60 EPS. On average, equities analysts anticipate that Sixth Street Specialty Lending will post 2.31 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 2nd were issued a $0.05 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a dividend yield of 7.59%. Sixth Street Specialty Lending’s dividend payout ratio is presently 89.32%.

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.