Essex Financial Services Inc. Purchases Shares of 18,187 Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Essex Financial Services Inc. bought a new position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 18,187 shares of the financial services provider’s stock, valued at approximately $387,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Wealthstar Advisors LLC purchased a new position in shares of Sixth Street Specialty Lending in the 4th quarter worth approximately $2,782,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Sixth Street Specialty Lending in the 4th quarter worth approximately $662,000. Platform Technology Partners boosted its holdings in shares of Sixth Street Specialty Lending by 3.5% in the 4th quarter. Platform Technology Partners now owns 28,925 shares of the financial services provider’s stock worth $616,000 after purchasing an additional 980 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Sixth Street Specialty Lending by 6.2% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 377,645 shares of the financial services provider’s stock worth $8,044,000 after purchasing an additional 22,211 shares during the period. Finally, Financial Advocates Investment Management boosted its holdings in Sixth Street Specialty Lending by 2.7% during the 4th quarter. Financial Advocates Investment Management now owns 156,155 shares of the financial services provider’s stock valued at $3,326,000 after acquiring an additional 4,170 shares during the period. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Sixth Street Specialty Lending Price Performance

Shares of TSLX stock opened at $22.47 on Friday. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 10.91 and a beta of 1.06. Sixth Street Specialty Lending, Inc. has a twelve month low of $19.50 and a twelve month high of $22.48. The stock has a fifty day simple moving average of $21.52 and a two-hundred day simple moving average of $20.99.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. Sixth Street Specialty Lending had a return on equity of 13.55% and a net margin of 39.05%. On average, analysts predict that Sixth Street Specialty Lending, Inc. will post 2.31 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 2nd were paid a dividend of $0.05 per share. This represents a dividend yield of 7.59%. The ex-dividend date was Friday, November 29th. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is currently 89.32%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Royal Bank of Canada restated an “outperform” rating and set a $23.00 price objective on shares of Sixth Street Specialty Lending in a report on Tuesday, November 12th. LADENBURG THALM/SH SH upgraded Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Wednesday, November 6th. Keefe, Bruyette & Woods dropped their price objective on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating for the company in a report on Thursday, November 7th. Finally, Wells Fargo & Company boosted their price objective on Sixth Street Specialty Lending from $21.00 to $23.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Sixth Street Specialty Lending presently has a consensus rating of “Buy” and an average price target of $22.33.

Sixth Street Specialty Lending Company 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.