Truvestments Capital LLC Boosts Stock Holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Truvestments Capital LLC boosted its stake in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 7.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 127,065 shares of the financial services provider’s stock after purchasing an additional 9,274 shares during the period. Truvestments Capital LLC’s holdings in Sixth Street Specialty Lending were worth $2,706,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of TSLX. Raymond James Financial Inc. purchased a new position in Sixth Street Specialty Lending during the fourth quarter worth approximately $17,488,000. Columbus Macro LLC purchased a new position in shares of Sixth Street Specialty Lending in the 4th quarter valued at $7,669,000. Progeny 3 Inc. raised its stake in shares of Sixth Street Specialty Lending by 10.6% in the 3rd quarter. Progeny 3 Inc. now owns 2,252,774 shares of the financial services provider’s stock valued at $46,249,000 after acquiring an additional 215,996 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Sixth Street Specialty Lending by 16.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,175,388 shares of the financial services provider’s stock valued at $24,131,000 after acquiring an additional 162,810 shares during the period. Finally, Benjamin Edwards Inc. raised its stake in shares of 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 valued at $3,976,000 after acquiring an additional 161,295 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 $22.09 on Wednesday. The firm has a market cap of $2.07 billion, a P/E ratio of 10.88 and a beta of 1.08. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.90 and a quick ratio of 1.90. Sixth Street Specialty Lending, Inc. has a 1-year low of $19.50 and a 1-year high of $23.67. The firm has a fifty day moving average of $22.21 and a two-hundred day moving average of $21.30.

Sixth Street Specialty Lending (NYSE:TSLX) last posted 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 business had revenue of $123.70 million during the quarter, compared to analyst estimates of $120.07 million. As a group, research analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.19 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Royal Bank of Canada raised their target price on shares of 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. Keefe, Bruyette & Woods raised their target price on shares of Sixth Street Specialty Lending from $21.50 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Truist Financial raised their target price on shares of Sixth Street Specialty Lending from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. LADENBURG THALM/SH SH downgraded shares of Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a research note on Friday, February 14th. Finally, Wells Fargo & Company lifted 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 note on Wednesday, January 29th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus 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.