Truvestments Capital LLC Grows Stock Position 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 4.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 117,791 shares of the financial services provider’s stock after acquiring an additional 5,309 shares during the quarter. Truvestments Capital LLC’s holdings in Sixth Street Specialty Lending were worth $2,418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Dynamic Technology Lab Private Ltd bought a new stake in Sixth Street Specialty Lending in the third quarter valued at approximately $987,000. Advisors Asset Management Inc. raised its holdings in Sixth Street Specialty Lending by 9.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 175,848 shares of the financial services provider’s stock valued at $3,610,000 after buying an additional 15,766 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Sixth Street Specialty Lending by 106.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 51,184 shares of the financial services provider’s stock valued at $1,051,000 after buying an additional 26,349 shares during the period. Muzinich & Co. Inc. grew its holdings in Sixth Street Specialty Lending by 12.4% in the 3rd quarter. Muzinich & Co. Inc. now owns 366,410 shares of the financial services provider’s stock worth $7,522,000 after acquiring an additional 40,330 shares during the last quarter. Finally, MQS Management LLC purchased a new position in shares of Sixth Street Specialty Lending in the third quarter valued at about $749,000. 70.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on TSLX shares. LADENBURG THALM/SH SH upgraded shares of Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 target price for the company in a report on Wednesday, November 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $23.00 price objective on shares of Sixth Street Specialty Lending in a research report on Tuesday, November 12th. Keefe, Bruyette & Woods decreased their target price 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 cut their price target on shares of Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $22.00.

Sixth Street Specialty Lending Stock Up 1.0 %

Shares of NYSE:TSLX opened at $20.99 on Monday. The firm has a market capitalization of $1.96 billion, a P/E ratio of 10.09 and a beta of 1.06. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.50 and a current ratio of 2.50. The stock has a 50 day moving average price of $20.49 and a 200-day moving average price of $21.00. Sixth Street Specialty Lending, Inc. has a 52-week low of $19.50 and a 52-week high of $22.35.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.57. Sixth Street Specialty Lending had a return on equity of 13.55% and a net margin of 39.05%. The business had revenue of $119.22 million during the quarter, compared to the consensus estimate of $119.85 million. During the same quarter in the prior year, the company earned $0.60 earnings per share. As a group, equities research analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.32 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, December 20th. Investors of record on Monday, December 2nd will be given a dividend of $0.05 per share. The ex-dividend date is Friday, November 29th. This represents a yield of 7.84%. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is currently 89.32%.

About Sixth Street Specialty Lending

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.