Sixth Street Specialty Lending (NYSE:TSLX) Receives Outperform Rating from Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Sixth Street Specialty Lending (NYSE:TSLX) in a research report report published on Tuesday,Benzinga reports. The brokerage currently has a $23.00 price objective on the financial services provider’s stock.

A number of other research firms have also recently commented on TSLX. Wells Fargo & Company lowered their target price on Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. LADENBURG THALM/SH SH raised shares of Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 target price for the company in a report on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods reduced their target price on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating for the company in a report on Thursday, November 7th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $22.00.

Sixth Street Specialty Lending Stock Performance

Shares of TSLX opened at $20.39 on Tuesday. Sixth Street Specialty Lending has a 12-month low of $19.50 and a 12-month high of $22.35. The company has a market cap of $1.90 billion, a PE ratio of 9.90 and a beta of 1.06. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 1.17. The stock has a 50-day moving average price of $20.62 and a 200-day moving average price of $21.05.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. Sixth Street Specialty Lending had a return on equity of 13.55% and a net margin of 39.05%. The firm had revenue of $119.22 million for the quarter, compared to analysts’ expectations of $119.85 million. During the same period last year, the firm earned $0.60 earnings per share. As a group, equities analysts forecast that Sixth Street Specialty Lending will post 2.32 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The firm also recently announced a — dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 29th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a dividend yield of 9.1%. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is 89.32%.

Hedge Funds Weigh In On Sixth Street Specialty Lending

A number of hedge funds have recently added to or reduced their stakes in TSLX. SG Americas Securities LLC acquired a new stake in shares of Sixth Street Specialty Lending in the 1st quarter worth $552,000. Private Advisor Group LLC grew its stake in Sixth Street Specialty Lending by 26.8% during the 3rd quarter. Private Advisor Group LLC now owns 25,503 shares of the financial services provider’s stock valued at $524,000 after purchasing an additional 5,398 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Sixth Street Specialty Lending by 5.4% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 572,480 shares of the financial services provider’s stock worth $12,222,000 after purchasing an additional 29,365 shares during the last quarter. Legacy Capital Wealth Partners LLC boosted its position in Sixth Street Specialty Lending by 98.6% in the third quarter. Legacy Capital Wealth Partners LLC now owns 144,698 shares of the financial services provider’s stock valued at $2,971,000 after buying an additional 71,849 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in Sixth Street Specialty Lending by 6.6% in the 3rd quarter. Van ECK Associates Corp now owns 2,289,435 shares of the financial services provider’s stock worth $47,117,000 after buying an additional 141,463 shares during the period. 70.25% of the stock is currently owned by institutional investors.

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.