Strs Ohio Grows Position in Sixth Street Specialty Lending, Inc. $TSLX

Strs Ohio raised its stake in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 101.8% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 4,347,710 shares of the financial services provider’s stock after purchasing an additional 2,193,551 shares during the period. Strs Ohio owned 4.58% of Sixth Street Specialty Lending worth $79,911,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Van ECK Associates Corp lifted its position in shares of Sixth Street Specialty Lending by 18.0% during the 3rd quarter. Van ECK Associates Corp now owns 2,529,187 shares of the financial services provider’s stock valued at $57,817,000 after buying an additional 385,398 shares in the last quarter. Sound Income Strategies LLC increased its holdings in Sixth Street Specialty Lending by 4.5% in the 4th quarter. Sound Income Strategies LLC now owns 2,511,115 shares of the financial services provider’s stock worth $55,998,000 after acquiring an additional 108,708 shares in the last quarter. Progeny 3 Inc. increased its holdings in Sixth Street Specialty Lending by 1.0% in the 2nd quarter. Progeny 3 Inc. now owns 2,476,398 shares of the financial services provider’s stock worth $58,963,000 after acquiring an additional 23,451 shares in the last quarter. Bank of Montreal Can raised its stake in Sixth Street Specialty Lending by 419.5% during the 4th quarter. Bank of Montreal Can now owns 2,284,920 shares of the financial services provider’s stock worth $49,628,000 after acquiring an additional 1,845,088 shares during the period. Finally, UBS Group AG raised its stake in Sixth Street Specialty Lending by 22.8% during the 4th quarter. UBS Group AG now owns 1,616,161 shares of the financial services provider’s stock worth $35,103,000 after acquiring an additional 299,564 shares during the period. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Sixth Street Specialty Lending Trading Down 0.1%

Shares of TSLX stock opened at $17.32 on Friday. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 15.07 and a beta of 0.59. Sixth Street Specialty Lending, Inc. has a 12-month low of $16.04 and a 12-month high of $25.17. The stock’s 50-day moving average price is $17.51 and its 200-day moving average price is $19.04.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.07). The firm had revenue of $93.40 million for the quarter, compared to the consensus estimate of $103.14 million. Sixth Street Specialty Lending had a net margin of 25.25% and a return on equity of 11.92%. During the same period in the previous year, the company posted $0.58 earnings per share. Equities research analysts predict that Sixth Street Specialty Lending, Inc. will post 1.71 EPS for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a dividend of $0.42 per share. This is a positive change from Sixth Street Specialty Lending’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.68 annualized dividend and a dividend yield of 9.7%. Sixth Street Specialty Lending’s payout ratio is currently 146.09%.

Insider Activity at Sixth Street Specialty Lending

In other news, VP Ross Anthony Bruck bought 8,000 shares of the stock in a transaction dated Monday, May 11th. The stock was purchased at an average cost of $17.76 per share, for a total transaction of $142,080.00. Following the transaction, the vice president owned 18,250 shares of the company’s stock, valued at $324,120. The trade was a 78.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada dropped their price target on shares of Sixth Street Specialty Lending from $22.00 to $20.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. JPMorgan Chase & Co. decreased their price objective on shares of Sixth Street Specialty Lending from $17.50 to $16.50 and set a “neutral” rating on the stock in a research report on Thursday. Wells Fargo & Company decreased their price objective on shares of Sixth Street Specialty Lending from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Wall Street Zen cut Sixth Street Specialty Lending from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Truist Financial dropped their price target on Sixth Street Specialty Lending from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.67.

Sixth Street Specialty Lending Profile

Sixth Street Specialty Lending Inc (NYSE: TSLX) is a closed-end, externally managed business development company that provides flexible debt financing solutions to middle-market companies. The fund primarily targets senior secured loans, unitranche facilities, mezzanine debt, second-lien financings and equity co-investment opportunities. By structuring tailored capital solutions, Sixth Street Specialty Lending seeks to support growth initiatives, recapitalizations and refinancings across a diverse set of industries, including technology, healthcare and business services.

As an affiliate of Sixth Street Partners, a global alternative investment firm, the company leverages the broader platform’s credit research, operational expertise and industry relationships.