Sanctuary Advisors LLC Increases Position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Sanctuary Advisors LLC grew its position in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 6.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,168 shares of the financial services provider’s stock after purchasing an additional 1,441 shares during the period. Sanctuary Advisors LLC’s holdings in Sixth Street Specialty Lending were worth $502,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Van ECK Associates Corp lifted its stake in Sixth Street Specialty Lending by 18.6% during the 2nd quarter. Van ECK Associates Corp now owns 2,147,972 shares of the financial services provider’s stock worth $45,859,000 after acquiring an additional 336,596 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Sixth Street Specialty Lending by 482.6% in the second quarter. Millennium Management LLC now owns 287,311 shares of the financial services provider’s stock valued at $6,134,000 after purchasing an additional 237,995 shares during the period. Progeny 3 Inc. grew 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 valued at $46,249,000 after purchasing an additional 215,996 shares in the last quarter. Benjamin Edwards Inc. increased its stake in Sixth Street Specialty Lending by 498.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 193,677 shares of the financial services provider’s stock worth $3,976,000 after buying an additional 161,295 shares during the period. Finally, Allen Investment Management LLC lifted its holdings in Sixth Street Specialty Lending by 16.4% during the 2nd quarter. Allen Investment Management LLC now owns 718,153 shares of the financial services provider’s stock worth $15,333,000 after buying an additional 101,174 shares in the last quarter. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Sixth Street Specialty Lending Trading Up 1.0 %

NYSE:TSLX opened at $21.14 on Thursday. Sixth Street Specialty Lending, Inc. has a 1 year low of $19.50 and a 1 year high of $22.35. The stock has a market cap of $1.97 billion, a P/E ratio of 10.26 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 simple moving average of $20.78 and a 200-day simple moving average of $20.93.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, meeting 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 firm had revenue of $119.22 million during the quarter, compared to the consensus estimate of $119.85 million. During the same period in the prior year, the company posted $0.60 earnings per share. As a group, analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.31 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The business also recently declared a dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 2nd were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a yield of 7.59%. Sixth Street Specialty Lending’s dividend payout ratio is currently 89.32%.

Analysts Set New Price Targets

Several research firms have commented on TSLX. LADENBURG THALM/SH SH upgraded shares of Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price target for the company in a research note on Wednesday, November 6th. Keefe, Bruyette & Woods cut their price target on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Wells Fargo & Company reduced their price target on Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $23.00 price objective on shares of Sixth Street Specialty Lending in a research report on Tuesday, November 12th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $22.00.

Sixth Street Specialty Lending 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.