Callodine Capital Management LP Sells 9,924 Shares of Sixth Street Specialty Lending, Inc. $TSLX

Callodine Capital Management LP trimmed its position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 0.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,065,076 shares of the financial services provider’s stock after selling 9,924 shares during the quarter. Sixth Street Specialty Lending accounts for 4.0% of Callodine Capital Management LP’s holdings, making the stock its 9th biggest holding. Callodine Capital Management LP’s holdings in Sixth Street Specialty Lending were worth $23,836,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC grew its holdings in Sixth Street Specialty Lending by 1.2% in the 1st quarter. Cornerstone Wealth Management LLC now owns 46,732 shares of the financial services provider’s stock valued at $1,046,000 after buying an additional 548 shares in the last quarter. Mallini Complete Financial Planning LLC grew its holdings in Sixth Street Specialty Lending by 4.5% in the 1st quarter. Mallini Complete Financial Planning LLC now owns 13,028 shares of the financial services provider’s stock valued at $292,000 after buying an additional 558 shares in the last quarter. Parallel Advisors LLC grew its holdings in Sixth Street Specialty Lending by 4.3% in the 1st quarter. Parallel Advisors LLC now owns 20,708 shares of the financial services provider’s stock valued at $463,000 after buying an additional 848 shares in the last quarter. Barnett & Company Inc. grew its holdings in Sixth Street Specialty Lending by 3.4% in the 1st quarter. Barnett & Company Inc. now owns 30,050 shares of the financial services provider’s stock valued at $673,000 after buying an additional 1,000 shares in the last quarter. Finally, Tidal Investments LLC grew its holdings in Sixth Street Specialty Lending by 2.3% in the 4th quarter. Tidal Investments LLC now owns 52,051 shares of the financial services provider’s stock valued at $1,109,000 after buying an additional 1,168 shares in the last quarter. 70.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TSLX has been the topic of several analyst reports. JMP Securities increased their target price on Sixth Street Specialty Lending from $24.00 to $25.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 6th. B. Riley initiated coverage on Sixth Street Specialty Lending in a report on Tuesday, May 13th. They set a “buy” rating and a $23.00 target price on the stock. 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 report on Friday, August 1st. Finally, Raymond James Financial reduced their target price on Sixth Street Specialty Lending from $24.00 to $23.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Sixth Street Specialty Lending has an average rating of “Buy” and an average price target of $23.28.

Sixth Street Specialty Lending Stock Performance

NYSE:TSLX opened at $24.15 on Wednesday. The stock’s 50-day simple moving average is $24.02 and its 200 day simple moving average is $22.73. The firm has a market capitalization of $2.28 billion, a PE ratio of 12.02 and a beta of 0.84. The company has a quick ratio of 3.79, a current ratio of 3.79 and a debt-to-equity ratio of 1.07. Sixth Street Specialty Lending, Inc. has a twelve month low of $18.58 and a twelve month high of $25.17.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.03. The business had revenue of $115.00 million for the quarter, compared to analyst estimates 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 period last year, the firm posted $0.58 earnings per share. On average, analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, September 19th. Stockholders of record on Monday, September 1st will be paid a dividend of $0.05 per share. This represents a dividend yield of 864.0%. The ex-dividend date of this dividend is Friday, August 29th. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is presently 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.