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

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

TSLX has been the topic of a number of other research reports. Wells Fargo & Company reduced their target price on Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods reduced their target price on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Finally, LADENBURG THALM/SH SH upgraded Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Wednesday, November 6th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Sixth Street Specialty Lending has an average rating of “Buy” and an average price target of $22.00.

Sixth Street Specialty Lending Stock Performance

Shares of Sixth Street Specialty Lending stock opened at $20.36 on Tuesday. Sixth Street Specialty Lending has a one year low of $19.50 and a one year high of $22.35. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 9.88 and a beta of 1.06. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.50 and a current ratio of 2.50. The business’s 50 day moving average price is $20.57 and its 200 day moving average price is $21.03.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $0.57 EPS for the quarter, hitting 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 the consensus estimate of $119.85 million. During the same quarter last year, the business posted $0.60 earnings per share. On average, research analysts predict that Sixth Street Specialty Lending will post 2.32 EPS for the current year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently disclosed a — dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 29th will be paid a $0.05 dividend. The ex-dividend date is Friday, November 29th. This represents a dividend yield of 9.1%. Sixth Street Specialty Lending’s payout ratio is presently 89.32%.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Institutional investors have recently modified their holdings of the company. EntryPoint Capital LLC acquired a new stake in shares of Sixth Street Specialty Lending in the first quarter valued at $35,000. nVerses Capital LLC acquired a new position in Sixth Street Specialty Lending during the 2nd quarter worth $70,000. Ridgewood Investments LLC acquired a new position in Sixth Street Specialty Lending during the 2nd quarter worth $77,000. Quarry LP grew its stake in Sixth Street Specialty Lending by 378.3% during the 3rd quarter. Quarry LP now owns 4,094 shares of the financial services provider’s stock worth $84,000 after purchasing an additional 3,238 shares in the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new position in Sixth Street Specialty Lending during the 3rd quarter worth $86,000. 70.25% of the stock is owned by institutional investors and hedge funds.

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.