Strs Ohio Buys 2,193,551 Shares of Sixth Street Specialty Lending, Inc. $TSLX

Strs Ohio raised its position in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 101.8% during the first quarter, HoldingsChannel reports. The fund owned 4,347,710 shares of the financial services provider’s stock after acquiring an additional 2,193,551 shares during the quarter. Strs Ohio’s holdings in Sixth Street Specialty Lending were worth $79,911,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lido Advisors LLC increased its stake in Sixth Street Specialty Lending by 1.2% in the fourth quarter. Lido Advisors LLC now owns 42,172 shares of the financial services provider’s stock worth $958,000 after purchasing an additional 506 shares during the period. Stratos Wealth Partners LTD. lifted its holdings in Sixth Street Specialty Lending by 5.6% during the 4th quarter. Stratos Wealth Partners LTD. now owns 10,047 shares of the financial services provider’s stock valued at $218,000 after buying an additional 532 shares in the last quarter. IFG Advisory LLC lifted its holdings in Sixth Street Specialty Lending by 2.7% during the 3rd quarter. IFG Advisory LLC now owns 21,159 shares of the financial services provider’s stock valued at $484,000 after buying an additional 551 shares in the last quarter. Family Wealth Partners LLC lifted its holdings in Sixth Street Specialty Lending by 2.5% during the 4th quarter. Family Wealth Partners LLC now owns 24,867 shares of the financial services provider’s stock valued at $540,000 after buying an additional 602 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its position in Sixth Street Specialty Lending by 5.5% in the 4th quarter. Oppenheimer & Co. Inc. now owns 11,923 shares of the financial services provider’s stock valued at $259,000 after buying an additional 626 shares during the period. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Sixth Street Specialty Lending

In other Sixth Street Specialty Lending news, VP Ross Anthony Bruck acquired 8,000 shares of Sixth Street Specialty Lending stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average price of $17.76 per share, with a total value of $142,080.00. Following the completion of the purchase, the vice president directly owned 18,250 shares of the company’s stock, valued at approximately $324,120. This represents a 78.05% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.83% of the stock is currently owned by insiders.

Sixth Street Specialty Lending Stock Down 0.1%

NYSE:TSLX opened at $17.32 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. Sixth Street Specialty Lending, Inc. has a 1-year low of $16.04 and a 1-year high of $25.17. The company has a 50-day moving average of $17.51 and a 200 day moving average of $19.04. The firm has a market cap of $1.65 billion, a PE ratio of 15.07 and a beta of 0.59.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its earnings results on Tuesday, May 5th. The financial services provider reported $0.42 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 business had revenue of $93.40 million for the quarter, compared to analysts’ expectations of $103.14 million. During the same period last year, the business posted $0.58 EPS. As a group, research analysts anticipate that Sixth Street Specialty Lending, Inc. will post 1.71 EPS for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Monday, June 15th. This is a positive change from Sixth Street Specialty Lending’s previous quarterly dividend of $0.01. This represents a $1.68 annualized dividend and a yield of 9.7%. Sixth Street Specialty Lending’s dividend payout ratio is 146.09%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on TSLX shares. Royal Bank Of Canada dropped their target price 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. Wells Fargo & Company lowered their price target on Sixth Street Specialty Lending from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. JPMorgan Chase & Co. lowered their price target on Sixth Street Specialty Lending from $17.50 to $16.50 and set a “neutral” rating for the company in a report on Thursday. Weiss Ratings cut Sixth Street Specialty Lending from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. Finally, Truist Financial reduced their price objective on 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. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $19.67.

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.