Benjamin Edwards Inc. Purchases 161,295 Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Benjamin Edwards Inc. increased its holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 498.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 193,677 shares of the financial services provider’s stock after acquiring an additional 161,295 shares during the period. Benjamin Edwards Inc. owned about 0.21% of Sixth Street Specialty Lending worth $3,976,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of TSLX. Progeny 3 Inc. boosted its position in Sixth Street Specialty Lending by 10.6% in the third quarter. Progeny 3 Inc. now owns 2,252,774 shares of the financial services provider’s stock worth $46,249,000 after purchasing an additional 215,996 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in Sixth Street Specialty Lending by 29.6% during the third quarter. Rockefeller Capital Management L.P. now owns 192,446 shares of the financial services provider’s stock valued at $3,951,000 after buying an additional 43,996 shares during the period. Quantbot Technologies LP increased its holdings in Sixth Street Specialty Lending by 399.4% during the third quarter. Quantbot Technologies LP now owns 26,774 shares of the financial services provider’s stock worth $550,000 after buying an additional 21,413 shares during the last quarter. D.A. Davidson & CO. raised its position in Sixth Street Specialty Lending by 10.3% in the third quarter. D.A. Davidson & CO. now owns 160,617 shares of the financial services provider’s stock worth $3,297,000 after acquiring an additional 15,060 shares during the period. Finally, Truvestments Capital LLC boosted its stake in Sixth Street Specialty Lending by 4.7% in the third quarter. Truvestments Capital LLC now owns 117,791 shares of the financial services provider’s stock valued at $2,418,000 after acquiring an additional 5,309 shares during the last quarter. 70.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TSLX. Wells Fargo & Company decreased their price target on shares of Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. LADENBURG THALM/SH SH upgraded Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Wednesday, November 6th. Keefe, Bruyette & Woods cut their price target on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $23.00 price objective on shares of Sixth Street Specialty Lending in a research note on Tuesday, November 12th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $22.00.

Sixth Street Specialty Lending Price Performance

Shares of NYSE TSLX opened at $21.42 on Wednesday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.50 and a current ratio of 2.50. Sixth Street Specialty Lending, Inc. has a fifty-two week low of $19.50 and a fifty-two week high of $22.35. The stock has a market cap of $2.00 billion, a PE ratio of 10.40 and a beta of 1.06. The stock has a fifty day moving average of $20.57 and a 200-day moving average of $20.99.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. Sixth Street Specialty Lending had a return on equity of 13.55% and a net margin of 39.05%. The firm had revenue of $119.22 million for the quarter, compared to analysts’ expectations of $119.85 million. During the same period in the prior year, the business posted $0.60 earnings per share. Equities research analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.32 earnings per share for the current year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently announced a dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 2nd will be paid a $0.05 dividend. This represents a yield of 7.59%. The ex-dividend date is Friday, November 29th. Sixth Street Specialty Lending’s dividend payout ratio is presently 89.32%.

About Sixth Street Specialty Lending

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.