Sixth Street Specialty Lending, Inc. $TSLX Shares Sold by Royal Bank of Canada

Royal Bank of Canada trimmed its holdings in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 22.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 120,921 shares of the financial services provider’s stock after selling 34,966 shares during the quarter. Royal Bank of Canada’s holdings in Sixth Street Specialty Lending were worth $2,222,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. The Manufacturers Life Insurance Company raised its position in Sixth Street Specialty Lending by 6.8% in the first quarter. The Manufacturers Life Insurance Company now owns 246,378 shares of the financial services provider’s stock valued at $4,528,000 after purchasing an additional 15,629 shares during the period. Lazard Asset Management LLC purchased a new position in shares of Sixth Street Specialty Lending during the first quarter worth $2,809,000. OMERS ADMINISTRATION Corp grew its stake in shares of Sixth Street Specialty Lending by 318.2% in the first quarter. OMERS ADMINISTRATION Corp now owns 1,961,813 shares of the financial services provider’s stock valued at $36,058,000 after buying an additional 1,492,704 shares in the last quarter. Callodine Capital Management LP grew its stake in shares of Sixth Street Specialty Lending by 2.5% in the first quarter. Callodine Capital Management LP now owns 1,129,520 shares of the financial services provider’s stock valued at $20,761,000 after buying an additional 27,528 shares in the last quarter. Finally, Lido Advisors LLC raised its holdings in shares of Sixth Street Specialty Lending by 23.7% in the 1st quarter. Lido Advisors LLC now owns 52,154 shares of the financial services provider’s stock valued at $959,000 after buying an additional 9,982 shares during the period. Institutional investors and hedge funds own 70.25% of the company’s stock.

Sixth Street Specialty Lending Price Performance

Shares of TSLX opened at $18.46 on Tuesday. The firm has a 50-day simple moving average of $17.35 and a 200-day simple moving average of $18.09. Sixth Street Specialty Lending, Inc. has a fifty-two week low of $16.04 and a fifty-two week high of $24.79. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 19.43 and a beta of 0.59. The company has a debt-to-equity ratio of 1.24, a quick ratio of 9.83 and a current ratio of 9.83.

Sixth Street Specialty Lending (NYSE:TSLX) last released its earnings results on Tuesday, August 4th. The financial services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.42 by $0.01. The company had revenue of $97.84 million during the quarter, compared to analysts’ expectations of $95.28 million. Sixth Street Specialty Lending had a net margin of 21.79% and a return on equity of 11.33%. During the same quarter last year, the business earned $0.56 EPS. On average, equities research analysts anticipate that Sixth Street Specialty Lending, Inc. will post 1.73 earnings per share for the current year.

Sixth Street Specialty Lending Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on TSLX shares. Keefe, Bruyette & Woods increased their price target on shares of Sixth Street Specialty Lending from $18.50 to $19.50 and gave the stock an “outperform” rating in a research report on Monday, August 10th. Wall Street Zen raised shares of Sixth Street Specialty Lending from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. JPMorgan Chase & Co. cut their target price on shares of Sixth Street Specialty Lending from $17.50 to $16.50 and set a “neutral” rating on the stock in a research note on Thursday, July 2nd. Zacks Research raised shares of Sixth Street Specialty Lending from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 7th. Finally, Citizens Jmp dropped their price target on shares of Sixth Street Specialty Lending from $25.00 to $24.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 22nd. Five equities research analysts have rated the stock with a Buy rating and three have assigned 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 $19.83.

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.