Dearborn Partners LLC Buys New Position in Sixth Street Specialty Lending, Inc. $TSLX

Dearborn Partners LLC bought a new stake in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 28,579 shares of the financial services provider’s stock, valued at approximately $491,000.

Several other hedge funds also recently modified their holdings of the company. Legal & General Group Plc increased its stake in shares of Sixth Street Specialty Lending by 16.0% in the 4th quarter. Legal & General Group Plc now owns 665,352 shares of the financial services provider’s stock worth $14,455,000 after acquiring an additional 91,578 shares in the last quarter. Lazard Asset Management LLC purchased a new position in Sixth Street Specialty Lending in the 1st quarter worth approximately $2,809,000. Texas Capital Bank Wealth Management Services Inc bought a new position in shares of Sixth Street Specialty Lending during the second quarter valued at $3,017,000. OMERS ADMINISTRATION Corp lifted its stake in Sixth Street Specialty Lending by 157.2% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 469,109 shares of the financial services provider’s stock valued at $10,189,000 after acquiring an additional 286,724 shares during the period. Finally, Rivernorth Capital Management LLC bought a new position in Sixth Street Specialty Lending during the first quarter valued at approximately $5,348,000. 70.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on TSLX shares. Wall Street Zen raised Sixth Street Specialty Lending from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Keefe, Bruyette & Woods upped their target price on shares of Sixth Street Specialty Lending from $18.50 to $19.50 and gave the stock an “outperform” rating in a report on Monday, August 10th. Royal Bank Of Canada cut their price objective on shares of Sixth Street Specialty Lending from $22.00 to $20.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. Zacks Research upgraded Sixth Street Specialty Lending from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 7th. Finally, Truist Financial reduced their price target on shares of Sixth Street Specialty Lending from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.83.

Sixth Street Specialty Lending Stock Performance

TSLX stock opened at $18.75 on Friday. The firm’s 50-day moving average is $17.71 and its 200 day moving average is $17.96. The company has a debt-to-equity ratio of 1.24, a current ratio of 9.83 and a quick ratio of 9.83. Sixth Street Specialty Lending, Inc. has a 12 month low of $16.04 and a 12 month high of $24.79. The company has a market capitalization of $1.78 billion, a PE ratio of 19.74 and a beta of 0.59.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. Sixth Street Specialty Lending had a return on equity of 11.33% and a net margin of 21.79%.The firm had revenue of $97.84 million during the quarter, compared to analyst estimates of $95.28 million. During the same quarter in the previous year, the business earned $0.56 earnings per share. On average, research analysts anticipate that Sixth Street Specialty Lending, Inc. will post 1.74 EPS for the current year.

Sixth Street Specialty Lending Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a $0.42 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $1.68 annualized dividend and a dividend yield of 9.0%. Sixth Street Specialty Lending’s payout ratio is currently 176.84%.

Sixth Street Specialty Lending Profile

Sixth Street Specialty Lending Inc (NYSE: TSLX) is a closed-end, externally managed business development company that provides flexible debt financing solutions to middle-market companies. The fund primarily targets senior secured loans, unitranche facilities, mezzanine debt, second-lien financings and equity co-investment opportunities. By structuring tailored capital solutions, Sixth Street Specialty Lending seeks to support growth initiatives, recapitalizations and refinancings across a diverse set of industries, including technology, healthcare and business services.

As an affiliate of Sixth Street Partners, a global alternative investment firm, the company leverages the broader platform’s credit research, operational expertise and industry relationships.