Bank of New York Mellon Corp Reduces Stock Holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Bank of New York Mellon Corp decreased its position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 7.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,899 shares of the financial services provider’s stock after selling 912 shares during the period. Bank of New York Mellon Corp’s holdings in Sixth Street Specialty Lending were worth $266,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Ameriflex Group Inc. purchased a new stake in shares of Sixth Street Specialty Lending during the fourth quarter worth $27,000. AdvisorNet Financial Inc purchased a new stake in shares of Sixth Street Specialty Lending during the first quarter worth $40,000. Rossby Financial LCC purchased a new stake in shares of Sixth Street Specialty Lending during the first quarter worth $62,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Sixth Street Specialty Lending during the first quarter worth $97,000. Finally, Silver Oak Securities Incorporated purchased a new stake in shares of Sixth Street Specialty Lending during the first quarter worth $182,000. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Analyst Ratings Changes

TSLX has been the topic of several recent research reports. Wells Fargo & Company increased their target price on Sixth Street Specialty Lending from $21.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. JPMorgan Chase & Co. dropped their target price on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Raymond James Financial dropped their target price on Sixth Street Specialty Lending from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Finally, B. Riley assumed coverage on Sixth Street Specialty Lending in a research report on Tuesday, May 13th. They set a “buy” rating and a $23.00 target price on the stock. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $23.06.

Sixth Street Specialty Lending Trading Down 0.1%

Shares of TSLX stock opened at $23.78 on Wednesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 3.79 and a current ratio of 3.79. Sixth Street Specialty Lending, Inc. has a 52-week low of $18.58 and a 52-week high of $25.17. The company has a market capitalization of $2.24 billion, a PE ratio of 11.83 and a beta of 0.84. The business’s fifty day moving average is $23.76 and its 200 day moving average is $22.52.

Sixth Street Specialty Lending (NYSE:TSLX) last released its earnings results on Wednesday, July 30th. The financial services provider reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.03. The business had revenue of $115.00 million for the quarter, compared to analysts’ expectations of $110.42 million. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 39.56%. During the same quarter in the prior year, the firm earned $0.58 earnings per share. On average, equities research analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The company also recently announced a — dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a $0.46 dividend. This is a boost from Sixth Street Specialty Lending’s previous — dividend of $0.06. This represents a yield of 770.0%. The ex-dividend date of this dividend is Monday, September 15th. Sixth Street Specialty Lending’s payout ratio is currently 91.54%.

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.