Advisors Capital Management LLC Grows Position in Sixth Street Specialty Lending, Inc. $TSLX

Advisors Capital Management LLC boosted its position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 1.9% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 718,338 shares of the financial services provider’s stock after purchasing an additional 13,730 shares during the period. Advisors Capital Management LLC owned about 0.76% of Sixth Street Specialty Lending worth $17,104,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of TSLX. Dakota Wealth Management bought a new position in shares of Sixth Street Specialty Lending during the 1st quarter worth $811,000. Muzinich & Co. Inc. lifted its stake in Sixth Street Specialty Lending by 14.7% during the first quarter. Muzinich & Co. Inc. now owns 450,142 shares of the financial services provider’s stock worth $10,074,000 after purchasing an additional 57,724 shares during the last quarter. Ignite Planners LLC raised its position in Sixth Street Specialty Lending by 4.5% in the 1st quarter. Ignite Planners LLC now owns 46,349 shares of the financial services provider’s stock worth $953,000 after purchasing an additional 1,987 shares during the period. Principle Wealth Partners LLC bought a new position in Sixth Street Specialty Lending during the 1st quarter worth approximately $294,000. Finally, Cetera Investment Advisers increased its stake in shares of Sixth Street Specialty Lending by 8.1% in the first quarter. Cetera Investment Advisers now owns 448,898 shares of the financial services provider’s stock worth $10,046,000 after buying an additional 33,818 shares during the period. 70.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on TSLX. JMP Securities upped their target price on Sixth Street Specialty Lending from $24.00 to $25.00 and gave the company a “market outperform” rating in a report on Wednesday, August 6th. Wells Fargo & Company reduced their target price on Sixth Street Specialty Lending from $24.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Sixth Street Specialty Lending in a research report on Wednesday, October 8th. JPMorgan Chase & Co. restated a “neutral” rating and set a $24.00 target price on shares of Sixth Street Specialty Lending in a research note on Wednesday, October 1st. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Sixth Street Specialty Lending from $24.00 to $23.00 and set an “outperform” rating for the company in a report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $23.63.

Sixth Street Specialty Lending Trading Down 0.8%

Shares of NYSE TSLX opened at $21.33 on Friday. The business’s 50 day moving average price is $22.52 and its 200-day moving average price is $23.10. The company has a debt-to-equity ratio of 1.07, a quick ratio of 3.79 and a current ratio of 3.79. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 10.61 and a beta of 0.84. Sixth Street Specialty Lending, Inc. has a fifty-two week low of $18.58 and a fifty-two week high of $25.17.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $0.53 EPS for the quarter, topping the consensus estimate of $0.52 by $0.01. The company had revenue of $109.40 million for the quarter, compared to the consensus estimate of $108.35 million. Sixth Street Specialty Lending had a net margin of 39.56% and a return on equity of 13.47%. During the same quarter last year, the firm posted $0.57 EPS. On average, sell-side analysts expect that Sixth Street Specialty Lending, Inc. will post 2.19 earnings per share for the current year.

Sixth Street Specialty Lending Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Monday, December 15th. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is 90.20%.

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.