Pallas Capital Advisors LLC Sells 1,598 Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Pallas Capital Advisors LLC reduced its stake in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 2.9% in the first quarter, Holdings Channel reports. The fund owned 53,983 shares of the financial services provider’s stock after selling 1,598 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Sixth Street Specialty Lending were worth $1,208,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Van ECK Associates Corp grew its position in shares of Sixth Street Specialty Lending by 4.5% during the 4th quarter. Van ECK Associates Corp now owns 2,393,069 shares of the financial services provider’s stock valued at $50,972,000 after acquiring an additional 103,634 shares during the period. Progeny 3 Inc. boosted its holdings in Sixth Street Specialty Lending by 6.1% in the 4th quarter. Progeny 3 Inc. now owns 2,390,680 shares of the financial services provider’s stock worth $50,921,000 after buying an additional 137,906 shares during the period. Burgundy Asset Management Ltd. boosted its holdings in Sixth Street Specialty Lending by 1.7% in the 4th quarter. Burgundy Asset Management Ltd. now owns 2,192,486 shares of the financial services provider’s stock worth $46,700,000 after buying an additional 37,442 shares during the period. Wells Fargo & Company MN boosted its holdings in Sixth Street Specialty Lending by 2.9% in the 4th quarter. Wells Fargo & Company MN now owns 1,183,141 shares of the financial services provider’s stock worth $25,201,000 after buying an additional 33,026 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Sixth Street Specialty Lending in the 4th quarter worth approximately $17,488,000. 70.25% of the stock is owned by institutional investors.

Sixth Street Specialty Lending Stock Performance

NYSE TSLX opened at $23.49 on Wednesday. Sixth Street Specialty Lending, Inc. has a 1 year low of $18.58 and a 1 year high of $23.95. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a market capitalization of $2.21 billion, a PE ratio of 11.57 and a beta of 0.83. The company’s 50 day simple moving average is $21.50 and its two-hundred day simple moving average is $21.78.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its earnings results on Wednesday, April 30th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.02. Sixth Street Specialty Lending had a net margin of 38.67% and a return on equity of 13.47%. The business had revenue of $113.92 billion for the quarter, compared to analysts’ expectations of $116.70 million. During the same period in the prior year, the company posted $0.52 EPS. Analysts predict that Sixth Street Specialty Lending, Inc. will post 2.19 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Friday, June 20th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.06 per share. This represents a dividend yield of 9.21%. The ex-dividend date is Friday, May 30th. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is currently 97.35%.

Analyst Ratings Changes

Several research firms recently commented on TSLX. Keefe, Bruyette & Woods raised their price objective on shares of Sixth Street Specialty Lending from $21.50 to $23.00 and gave the stock an “outperform” rating in a report 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 report on Friday, February 14th. Wells Fargo & Company cut their price objective on shares of Sixth Street Specialty Lending from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Monday, April 28th. B. Riley began coverage on shares of Sixth Street Specialty Lending in a report on Tuesday, May 13th. They issued a “buy” rating and a $23.00 price objective for the company. Finally, JPMorgan Chase & Co. cut their price objective on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an “overweight” rating for the company in a report on Thursday, April 24th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Sixth Street Specialty Lending has an average rating of “Buy” and an average target price of $22.81.

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.