Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX – Get Rating) have been given a consensus rating of “Hold” by the six brokerages that cover the company, MarketBeat.com reports. One research analyst rated the stock with a sell recommendation, two gave the company a hold recommendation and three gave the company a buy recommendation. The average 1-year target price among brokers who have issued ratings on the stock in the past year is $25.17.
Several analysts have weighed in on the company recently. Wells Fargo & Company raised its price target on Sixth Street Specialty Lending from $24.50 to $25.00 and gave the company an “overweight” rating in a Tuesday, Feb. 22 research note. On Friday, Zacks Investment Research downgraded Sixth Street Specialty Lending from a “hold” rating to a “sell” rating in a research note. Finally, StockNews.com took over Sixth Street Specialty Lending coverage in a Thursday, March 31 research note. They set a “hold” rating for the company.
In other news, Director Richard A. Higginbotham bought 2,000 shares of the company in a trade on Monday, March 7. The shares were purchased at an average price of $22.82 per share, with a total value of $45,640.00. The purchase was disclosed in a filing with the SEC, accessible via this link. Company insiders own 3.90% of the company’s shares.
A number of institutional investors have recently bought and sold shares of the company. Amundi Pioneer Asset Management Inc. increased its stake in shares of Sixth Street Specialty Lending by 152.1% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 36,550 shares of the financial services provider worth $731,000 after buying an additional 22,050 shares last quarter. Morgan Stanley increased its holdings of Sixth Street Specialty Lending stocks by 12.5% in the second quarter. Morgan Stanley now owns 2,034,545 shares of the financial services provider worth $45,147,000 after buying an additional 225,662 shares last quarter. Cambridge Investment Research Advisors Inc. increased its holdings of Sixth Street Specialty Lending stocks by 21.9% in Q3. Cambridge Investment Research Advisors Inc. now owns 35,943 shares of the financial services provider worth $798,000 after buying an additional 6,450 shares last quarter. Raymond James Financial Services Advisors Inc. increased its holdings of Sixth Street Specialty Lending stocks by 6.3% in Q3. Raymond James Financial Services Advisors Inc. now owns 14,842 shares of the financial services provider worth $330,000 after buying 875 more shares last quarter. Finally, Deutsche Bank AG increased its equity stake in Sixth Street Specialty Lending to 146,887.5% in the third quarter. Deutsche Bank AG now owns 11,759 shares of the financial services provider worth $261,000 after buying an additional 11,751 shares last quarter. 47.04% of the shares are held by hedge funds and other institutional investors.
TSLX opened at $21.65 on Friday. The company has a market capitalization of $1.65 billion, a PE ratio of 8.59 and a beta of 1.08. The stock has a 50-day moving average of $22.96 and a 200-day moving average of $23.42. Sixth Street Specialty Lending has a 52-week low of $20.80 and a 52-week high of $24.74. The company has a debt ratio of 0.87, a quick ratio of 0.44 and a current ratio of 0.58.
Sixth Street Specialty Lending (NYSE:TSLX – Get Rating) last released its quarterly results on Thursday, February 17. The financial services provider reported earnings per share (EPS) of $0.63 for the quarter, beating the consensus estimate of $0.53 by $0.10. The company posted revenue of $78.32 million in the quarter, versus a consensus estimate of $69.02 million. Sixth Street Specialty Lending had a return on equity of 12.41% and a net margin of 70.06%. In the same quarter a year earlier, the company posted EPS of $0.50. On average, research analysts predict that Sixth Street Specialty Lending will post 1.99 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 15. Shareholders of record on Wednesday, June 15 will receive a dividend of $0.41. The ex-date of this dividend is Tuesday, June 14. This represents an annualized dividend of $1.64 and a yield of 7.58%. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is 65.08%.
About Sixth Street Specialty Loans (Get a rating)
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, equity and structured products, structured equity non-controlling interests and common stock with an emphasis on co-investments for organic growth, acquisitions, market or product expansion, restructuring initiatives, recapitalizations and refinancing.
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