OMERS ADMINISTRATION Corp Boosts Holdings in Sixth Street Specialty Lending, Inc. $TSLX

OMERS ADMINISTRATION Corp boosted its position in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 318.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,961,813 shares of the financial services provider’s stock after purchasing an additional 1,492,704 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Sixth Street Specialty Lending were worth $36,058,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fifth Third Bancorp purchased a new position in Sixth Street Specialty Lending in the 1st quarter worth about $63,000. Advisory Services Network LLC purchased a new stake in Sixth Street Specialty Lending in the 3rd quarter valued at about $75,000. Redmont Wealth Advisors LLC grew its stake in Sixth Street Specialty Lending by 37.8% in the 4th quarter. Redmont Wealth Advisors LLC now owns 4,776 shares of the financial services provider’s stock worth $104,000 after acquiring an additional 1,310 shares in the last quarter. SG Americas Securities LLC bought a new position in Sixth Street Specialty Lending in the 4th quarter worth about $108,000. Finally, Arax Advisory Partners purchased a new position in shares of Sixth Street Specialty Lending during the fourth quarter worth approximately $109,000. 70.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TSLX has been the topic of several research reports. Weiss Ratings downgraded Sixth Street Specialty Lending from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 18th. Zacks Research upgraded Sixth Street Specialty Lending from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 7th. Wall Street Zen downgraded Sixth Street Specialty Lending from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Keefe, Bruyette & Woods cut their price target on Sixth Street Specialty Lending from $21.00 to $18.50 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Finally, JPMorgan Chase & Co. decreased their price objective on 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. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.67.

Sixth Street Specialty Lending Stock Up 0.9%

Sixth Street Specialty Lending stock opened at $16.73 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 3.39 and a quick ratio of 3.39. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 14.55 and a beta of 0.59. Sixth Street Specialty Lending, Inc. has a 1-year low of $16.04 and a 1-year high of $24.79. The business has a fifty day moving average price of $17.10 and a 200-day moving average price of $18.55.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.07). Sixth Street Specialty Lending had a net margin of 25.25% and a return on equity of 11.92%. The company had revenue of $93.40 million for the quarter, compared to analyst estimates of $103.14 million. During the same quarter in the previous year, the company posted $0.58 EPS. Equities research analysts forecast that Sixth Street Specialty Lending, Inc. will post 1.72 EPS for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a $0.42 dividend. This is a boost 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 10.0%. Sixth Street Specialty Lending’s payout ratio is presently 146.09%.

Insider Activity

In related news, VP Ross Anthony Bruck purchased 8,000 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was bought at an average cost of $17.76 per share, with a total value of $142,080.00. Following the completion of the acquisition, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.83% of the stock is currently owned by company insiders.

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.