Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) have received an average rating of “Moderate Buy” from the six brokerages that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $22.67.

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

Sixth Street Specialty Lending Stock Down 0.7 %

Shares of NYSE:TSLX opened at $20.74 on Friday. The company has a market capitalization of $1.93 billion, a PE ratio of 8.79 and a beta of 1.06. 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 company’s fifty day moving average is $20.78 and its 200-day moving average is $21.11. Sixth Street Specialty Lending has a 52 week low of $19.02 and a 52 week high of $22.35.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.01. The company had revenue of $121.82 million during the quarter, compared to analyst estimates of $120.33 million. Sixth Street Specialty Lending had a net margin of 44.55% and a return on equity of 13.76%. During the same quarter last year, the business posted $0.58 earnings per share. Equities research analysts predict that Sixth Street Specialty Lending will post 2.31 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.46 dividend. This is an increase from Sixth Street Specialty Lending’s previous quarterly dividend of $0.06. The ex-dividend date was Monday, September 16th. This represents a $1.84 annualized dividend and a dividend yield of 8.87%. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is currently 77.97%.

Insider Transactions at Sixth Street Specialty Lending

In other news, Director Judy S. Slotkin bought 7,015 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $19.90 per share, with a total value of $139,598.50. Following the transaction, the director now owns 18,726 shares in the company, valued at $372,647.40. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.30% of the stock is owned by insiders.

Institutional Trading of Sixth Street Specialty Lending

A number of hedge funds and other institutional investors have recently modified their holdings of TSLX. Van ECK Associates Corp lifted its position in shares of Sixth Street Specialty Lending by 18.6% in the second quarter. Van ECK Associates Corp now owns 2,147,972 shares of the financial services provider’s stock valued at $45,859,000 after buying an additional 336,596 shares during the last quarter. Confluence Investment Management LLC acquired a new position in shares of Sixth Street Specialty Lending in the first quarter valued at $5,212,000. Millennium Management LLC raised its position in shares of Sixth Street Specialty Lending by 482.6% in the second quarter. Millennium Management LLC now owns 287,311 shares of the financial services provider’s stock valued at $6,134,000 after purchasing an additional 237,995 shares during the period. TrueMark Investments LLC bought a new position in shares of Sixth Street Specialty Lending in the second quarter valued at about $4,378,000. Finally, Baillie Gifford & Co. lifted its stake in shares of Sixth Street Specialty Lending by 81.9% during the 2nd quarter. Baillie Gifford & Co. now owns 410,054 shares of the financial services provider’s stock worth $8,755,000 after buying an additional 184,634 shares during the last quarter. 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.