Sixth Street Specialty Lending, Inc. $TSLX Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp raised its position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 28.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,366,266 shares of the financial services provider’s stock after buying an additional 519,456 shares during the period. Van ECK Associates Corp owned about 2.49% of Sixth Street Specialty Lending worth $40,629,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Royal Bank of Canada grew its holdings in Sixth Street Specialty Lending by 8.0% in the first quarter. Royal Bank of Canada now owns 124,241 shares of the financial services provider’s stock valued at $2,780,000 after purchasing an additional 9,230 shares during the period. Integrated Wealth Concepts LLC increased its position in shares of Sixth Street Specialty Lending by 38.5% in the first quarter. Integrated Wealth Concepts LLC now owns 16,539 shares of the financial services provider’s stock valued at $370,000 after buying an additional 4,597 shares in the last quarter. Invesco Ltd. raised its stake in shares of Sixth Street Specialty Lending by 8.0% during the 2nd quarter. Invesco Ltd. now owns 30,628 shares of the financial services provider’s stock worth $729,000 after buying an additional 2,263 shares during the period. Marshall Wace LLP raised its stake in shares of Sixth Street Specialty Lending by 186.6% during the 2nd quarter. Marshall Wace LLP now owns 75,811 shares of the financial services provider’s stock worth $1,805,000 after buying an additional 49,362 shares during the period. Finally, Glenview Trust co purchased a new position in shares of Sixth Street Specialty Lending during the 2nd quarter valued at approximately $231,000. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Sixth Street Specialty Lending Price Performance

Shares of NYSE:TSLX opened at $18.75 on Friday. Sixth Street Specialty Lending, Inc. has a 52-week low of $16.04 and a 52-week high of $24.79. The stock has a market cap of $1.78 billion, a P/E ratio of 19.74 and a beta of 0.59. The business has a fifty day moving average of $17.71 and a two-hundred day moving average of $17.96. The company has a quick ratio of 9.83, a current ratio of 9.83 and a debt-to-equity ratio of 1.24.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly 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. Sixth Street Specialty Lending had a return on equity of 11.33% and a net margin of 21.79%.The business had revenue of $97.84 million for the quarter, compared to analyst estimates of $95.28 million. During the same quarter in the previous year, the firm earned $0.56 EPS. On average, research analysts expect that Sixth Street Specialty Lending, Inc. will post 1.74 earnings per share for the current year.

Sixth Street Specialty Lending Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 9.0%. The ex-dividend date is Tuesday, September 15th. Sixth Street Specialty Lending’s payout ratio is presently 176.84%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on TSLX shares. Royal Bank Of Canada dropped their price target on shares of Sixth Street Specialty Lending from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. JPMorgan Chase & Co. reduced their price objective on shares of Sixth Street Specialty Lending from $17.50 to $16.50 and set a “neutral” rating for the company in a research report on Thursday, July 2nd. Truist Financial decreased their price objective on shares of Sixth Street Specialty Lending from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Wells Fargo & Company dropped their target price on shares of Sixth Street Specialty Lending from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Sixth Street Specialty Lending in a research note on Thursday, August 13th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Sixth Street Specialty Lending has an average rating of “Moderate Buy” and a consensus price target of $19.83.

Sixth Street Specialty Lending 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.