Royal Bank of Canada Sells 34,966 Shares of Sixth Street Specialty Lending, Inc. $TSLX

Royal Bank of Canada decreased its holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 22.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 120,921 shares of the financial services provider’s stock after selling 34,966 shares during the period. Royal Bank of Canada owned about 0.13% of Sixth Street Specialty Lending worth $2,222,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in TSLX. Legal & General Group Plc boosted its holdings in shares of Sixth Street Specialty Lending by 16.0% in the fourth quarter. Legal & General Group Plc now owns 665,352 shares of the financial services provider’s stock valued at $14,455,000 after purchasing an additional 91,578 shares during the period. Lazard Asset Management LLC bought a new position in Sixth Street Specialty Lending in the first quarter worth approximately $2,809,000. OMERS ADMINISTRATION Corp increased its holdings in Sixth Street Specialty Lending by 157.2% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 469,109 shares of the financial services provider’s stock worth $10,189,000 after purchasing an additional 286,724 shares during the period. Independent Financial Group LLC purchased a new position in Sixth Street Specialty Lending during the 1st quarter worth $1,114,000. Finally, Quantum Portfolio Management LLC bought a new stake in Sixth Street Specialty Lending during the 1st quarter valued at $273,434,000. 70.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TSLX has been the topic of several recent research reports. Citizens Jmp dropped their target price on shares of Sixth Street Specialty Lending from $25.00 to $24.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 22nd. JPMorgan Chase & Co. reduced their price target on shares of Sixth Street Specialty Lending from $17.50 to $16.50 and set a “neutral” rating for the company in a report on Thursday, July 2nd. Royal Bank Of Canada lowered 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. Wall Street Zen upgraded shares of Sixth Street Specialty Lending from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Sixth Street Specialty Lending from $18.50 to $19.50 and gave the company an “outperform” rating in a report on Monday, August 10th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Sixth Street Specialty Lending presently has an average rating of “Moderate Buy” and a consensus target price of $19.83.

Sixth Street Specialty Lending Price Performance

Shares of NYSE TSLX opened at $18.46 on Tuesday. Sixth Street Specialty Lending, Inc. has a 52 week low of $16.04 and a 52 week high of $24.79. The business’s 50 day moving average price is $17.35 and its 200 day moving average price is $18.09. The company has a quick ratio of 9.83, a current ratio of 9.83 and a debt-to-equity ratio of 1.24. The firm has a market cap of $1.75 billion, a P/E ratio of 19.43 and a beta of 0.59.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. Sixth Street Specialty Lending had a return on equity of 11.33% and a net margin of 21.79%.The business had revenue of $97.84 million during the quarter, compared to analyst estimates of $95.28 million. During the same quarter last year, the business posted $0.56 EPS. On average, sell-side analysts expect that Sixth Street Specialty Lending, Inc. will post 1.73 earnings per share for the current year.

Sixth Street Specialty Lending Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 9.1%. The ex-dividend date is Tuesday, September 15th. Sixth Street Specialty Lending’s payout ratio is 176.84%.

Sixth Street Specialty Lending Company 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.