Fintel reports that on May 15, 2023, RBC Capital reiterated coverage of Sixth Street Specialty Lending (NYSE:TSLX) with a Outperform recommendation.
Analyst Price Forecast Suggests 20.24% Upside
As of May 11, 2023, the average one-year price target for Sixth Street Specialty Lending is 21.22. The forecasts range from a low of 19.44 to a high of $23.10. The average price target represents an increase of 20.24% from its latest reported closing price of 17.65.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Sixth Street Specialty Lending is 400MM, an increase of 18.17%. The projected annual non-GAAP EPS is 2.22.
Sixth Street Specialty Lending Declares $0.46 Dividend
On February 16, 2023 the company declared a regular quarterly dividend of $0.46 per share ($1.84 annualized). Shareholders of record as of March 15, 2023 received the payment on March 31, 2023. Previously, the company paid $0.45 per share.
At the current share price of $17.65 / share, the stock's dividend yield is 10.42%.
Looking back five years and taking a sample every week, the average dividend yield has been 10.31%, the lowest has been 7.67%, and the highest has been 15.49%. The standard deviation of yields is 1.95 (n=196).
The current dividend yield is 0.06 standard deviations above the historical average.
The company's 3-Year dividend growth rate is -0.01%.
What is the Fund Sentiment?
There are 224 funds or institutions reporting positions in Sixth Street Specialty Lending. This is an increase of 13 owner(s) or 6.16% in the last quarter. Average portfolio weight of all funds dedicated to TSLX is 0.39%, an increase of 17.80%. Total shares owned by institutions decreased in the last three months by 7.67% to 36,353K shares. 
The put/call ratio of TSLX is 0.47, indicating a bullish outlook.
What are Other Shareholders Doing?
Strs Ohio holds 2,894K shares. In it's prior filing, the firm reported owning 2,805K shares, representing an increase of 3.09%. The firm increased its portfolio allocation in TSLX by 121,150.56% over the last quarter.
Sixth Street Partners Management Company holds 2,714K shares. No change in the last quarter.
FMCSX - Fidelity Mid-Cap Stock Fund holds 1,971K shares. In it's prior filing, the firm reported owning 1,963K shares, representing an increase of 0.40%. The firm decreased its portfolio allocation in TSLX by 3.46% over the last quarter.
Sound Income Strategies holds 1,712K shares. In it's prior filing, the firm reported owning 1,720K shares, representing a decrease of 0.46%. The firm decreased its portfolio allocation in TSLX by 5.11% over the last quarter.
Progeny 3 holds 1,712K shares. In it's prior filing, the firm reported owning 1,658K shares, representing an increase of 3.12%. The firm increased its portfolio allocation in TSLX by 3.60% over the last quarter.
Sixth Street Specialty Lending Background Information
(This description is provided by the company.)
Sixth Street Specialty Lending, Inc. is a specialty finance company focused on lending to middle-market companies. The Company seeks to generate current income primarily in U.S.-domiciled middle-market companies through direct originations of senior secured loans and, to a lesser extent, originations of mezzanine and unsecured loans and investments in corporate bonds and equity securities. The Company has elected to be regulated as a business development company, or BDC, under the Investment Company Act of 1940 and the rules and regulations promulgated thereunder. TSLX is externally managed by Sixth Street Specialty Advisers, LLC, an affiliate of Sixth Street and an SEC registered investment adviser. TSLX leverages the deep investment, sector, and operating resources of Sixth Street Partners, LLC, a global investment firm with over $50 billion of assets under management.
See all Sixth Street Specialty Lending regulatory filings.This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
