Dearborn Partners LLC Raises Stock Position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Dearborn Partners LLC increased its position in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,768 shares of the financial services provider’s stock after acquiring an additional 763 shares during the quarter. Dearborn Partners LLC owned about 0.06% of Sixth Street Specialty Lending worth $1,252,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in shares of Sixth Street Specialty Lending in the 4th quarter valued at approximately $17,488,000. Columbus Macro LLC acquired a new position in Sixth Street Specialty Lending during the 4th quarter valued at approximately $7,669,000. Progeny 3 Inc. raised its holdings in shares of 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 buying an additional 215,996 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Sixth Street Specialty Lending by 16.1% during the third quarter. JPMorgan Chase & Co. now owns 1,175,388 shares of the financial services provider’s stock worth $24,131,000 after buying an additional 162,810 shares during the period. Finally, Benjamin Edwards Inc. raised its stake in Sixth Street Specialty Lending by 498.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 193,677 shares of the financial services provider’s stock worth $3,976,000 after acquiring an additional 161,295 shares during the last quarter. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Sixth Street Specialty Lending Trading Down 0.3 %

Sixth Street Specialty Lending stock opened at $22.56 on Tuesday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 1.18. The firm has a market cap of $2.11 billion, a PE ratio of 11.11 and a beta of 1.08. The stock’s 50 day simple moving average is $22.20 and its two-hundred day simple moving average is $21.29. Sixth Street Specialty Lending, Inc. has a 12 month low of $19.50 and a 12 month high of $23.67.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.61 EPS for the quarter, beating the consensus estimate of $0.57 by $0.04. Sixth Street Specialty Lending had a net margin of 38.67% and a return on equity of 13.47%. The company had revenue of $123.70 million for the quarter, compared to analyst estimates of $120.07 million. Analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.19 earnings per share for the current year.

Sixth Street Specialty Lending Increases Dividend

The firm also recently declared a dividend, which will be paid on Thursday, March 20th. Investors of record on Monday, March 3rd will be paid a $0.07 dividend. This represents a dividend yield of 6.99%. The ex-dividend date is Friday, February 28th. This is a positive change from Sixth Street Specialty Lending’s previous dividend of $0.05. Sixth Street Specialty Lending’s payout ratio is currently 90.64%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Royal Bank of Canada boosted their price target on Sixth Street Specialty Lending from $23.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. upped their target price on Sixth Street Specialty Lending from $22.50 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Wells Fargo & Company raised their price target on shares of Sixth Street Specialty Lending from $21.00 to $23.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. LADENBURG THALM/SH SH cut shares of Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a research note on Friday, February 14th. Finally, Truist Financial increased their price objective on shares of Sixth Street Specialty Lending from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.07.

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.