Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Stake Boosted by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. increased its stake in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 1.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 315,104 shares of the financial services provider’s stock after purchasing an additional 4,782 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.34% of Sixth Street Specialty Lending worth $6,727,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Community Bank N.A. boosted its position in shares of Sixth Street Specialty Lending by 50.0% during the fourth quarter. Community Bank N.A. now owns 1,500 shares of the financial services provider’s stock worth $32,000 after buying an additional 500 shares during the period. Precision Wealth Strategies LLC raised its stake in shares of Sixth Street Specialty Lending by 5.7% during the first quarter. Precision Wealth Strategies LLC now owns 10,030 shares of the financial services provider’s stock valued at $215,000 after purchasing an additional 537 shares in the last quarter. Nations Financial Group Inc. IA ADV lifted its holdings in Sixth Street Specialty Lending by 1.6% in the first quarter. Nations Financial Group Inc. IA ADV now owns 36,276 shares of the financial services provider’s stock worth $777,000 after purchasing an additional 571 shares during the period. Global Retirement Partners LLC grew its position in Sixth Street Specialty Lending by 105.0% in the 1st quarter. Global Retirement Partners LLC now owns 1,757 shares of the financial services provider’s stock valued at $38,000 after buying an additional 900 shares in the last quarter. Finally, Register Financial Advisors LLC raised its position in shares of Sixth Street Specialty Lending by 15.5% during the 1st quarter. Register Financial Advisors LLC now owns 7,574 shares of the financial services provider’s stock worth $162,000 after buying an additional 1,018 shares in the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLX has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods lowered their price objective on shares of Sixth Street Specialty Lending from $23.50 to $23.00 and set an “outperform” rating on the stock in a research note on Monday, May 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 price target on shares of Sixth Street Specialty Lending in a research report on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Sixth Street Specialty Lending presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.67.

Sixth Street Specialty Lending Stock Performance

Shares of TSLX stock opened at $20.77 on Thursday. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of 8.38 and a beta of 1.05. Sixth Street Specialty Lending, Inc. has a 1-year low of $19.02 and a 1-year high of $22.35. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 1.07. The stock’s fifty day simple moving average is $21.14 and its 200-day simple moving average is $21.26.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The company had revenue of $121.82 million for the quarter, compared to the consensus estimate of $120.33 million. Sixth Street Specialty Lending had a return on equity of 13.76% and a net margin of 44.55%. During the same quarter in the prior year, the company earned $0.58 EPS. On average, sell-side analysts predict that Sixth Street Specialty Lending, Inc. will post 2.31 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.46 per share. This is a boost from Sixth Street Specialty Lending’s previous quarterly dividend of $0.06. This represents a $1.84 annualized dividend and a dividend yield of 8.86%. The ex-dividend date of this dividend is Monday, September 16th. Sixth Street Specialty Lending’s payout ratio is currently 74.19%.

Insider Transactions at Sixth Street Specialty Lending

In other news, Director Judy S. Slotkin acquired 7,015 shares of Sixth Street Specialty Lending stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average price of $19.90 per share, with a total value of $139,598.50. Following the completion of the transaction, the director now owns 18,726 shares in the company, valued at $372,647.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 3.30% of the stock is currently owned by company insiders.

Sixth Street Specialty Lending 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.