Sixth Street Specialty Lending’s (TSLX) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Sixth Street Specialty Lending (NYSE:TSLX) in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a $23.00 target price on the financial services provider’s stock.

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

Sixth Street Specialty Lending Trading Down 0.7 %

Shares of NYSE:TSLX opened at $20.26 on Tuesday. The company’s fifty day simple moving average is $20.59 and its 200 day simple moving average is $21.04. Sixth Street Specialty Lending has a 12 month low of $19.50 and a 12 month high of $22.35. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 9.83 and a beta of 1.06. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 1.17.

Sixth Street Specialty Lending (NYSE:TSLX) last posted 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 net margin of 39.05% and a return on equity of 13.55%. The company had revenue of $119.22 million for the quarter, compared to the consensus estimate of $119.85 million. During the same period last year, the company earned $0.60 earnings per share. As a group, research analysts forecast that Sixth Street Specialty Lending will post 2.32 EPS 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 $0.05 dividend. The ex-dividend date of this dividend 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

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Nations Financial Group Inc. IA ADV raised its stake in Sixth Street Specialty Lending by 1.7% in the second quarter. Nations Financial Group Inc. IA ADV now owns 36,903 shares of the financial services provider’s stock valued at $788,000 after purchasing an additional 627 shares in the last quarter. Worth Asset Management LLC lifted its stake in Sixth Street Specialty Lending by 7.9% during the second quarter. Worth Asset Management LLC now owns 14,156 shares of the financial services provider’s stock worth $302,000 after purchasing an additional 1,037 shares during the last quarter. IFG Advisory LLC boosted its holdings in shares of Sixth Street Specialty Lending by 6.3% in the 2nd quarter. IFG Advisory LLC now owns 17,512 shares of the financial services provider’s stock valued at $374,000 after purchasing an additional 1,039 shares in the last quarter. EMC Capital Management increased its stake in shares of Sixth Street Specialty Lending by 23.1% in the 1st quarter. EMC Capital Management now owns 6,747 shares of the financial services provider’s stock valued at $145,000 after purchasing an additional 1,265 shares during the last quarter. Finally, Barnett & Company Inc. raised its holdings in shares of Sixth Street Specialty Lending by 4.7% during the 3rd quarter. Barnett & Company Inc. now owns 29,050 shares of the financial services provider’s stock worth $596,000 after buying an additional 1,300 shares in the last quarter. 70.25% of the stock is currently 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.