Van ECK Associates Corp Raises Holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Van ECK Associates Corp boosted its stake in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 4.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,393,069 shares of the financial services provider’s stock after purchasing an additional 103,634 shares during the quarter. Van ECK Associates Corp owned approximately 2.56% of Sixth Street Specialty Lending worth $50,972,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Sound Income Strategies LLC increased its holdings in Sixth Street Specialty Lending by 5.6% during the 4th quarter. Sound Income Strategies LLC now owns 2,305,372 shares of the financial services provider’s stock worth $49,104,000 after purchasing an additional 122,312 shares during the period. Progeny 3 Inc. increased its holdings in Sixth Street Specialty Lending by 10.6% during the 3rd quarter. Progeny 3 Inc. now owns 2,252,774 shares of the financial services provider’s stock worth $46,249,000 after purchasing an additional 215,996 shares during the period. JPMorgan Chase & Co. increased its holdings in Sixth Street Specialty Lending by 16.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,175,388 shares of the financial services provider’s stock worth $24,131,000 after purchasing an additional 162,810 shares during the period. Two Sigma Advisers LP increased its holdings in Sixth Street Specialty Lending by 1.1% during the 3rd quarter. Two Sigma Advisers LP now owns 867,286 shares of the financial services provider’s stock worth $17,805,000 after purchasing an additional 9,700 shares during the period. Finally, Stifel Financial Corp increased its holdings in Sixth Street Specialty Lending by 5.3% during the 3rd quarter. Stifel Financial Corp now owns 550,995 shares of the financial services provider’s stock worth $11,312,000 after purchasing an additional 27,960 shares during the period. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TSLX. Keefe, Bruyette & Woods dropped their price objective 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $23.00 price objective on shares of Sixth Street Specialty Lending in a report on Tuesday, November 12th. Wells Fargo & Company increased their price objective on Sixth Street Specialty Lending from $21.00 to $23.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, LADENBURG THALM/SH SH upgraded Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price objective on the stock in a report on Wednesday, November 6th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $22.33.

Sixth Street Specialty Lending Stock Up 1.2 %

Shares of NYSE TSLX opened at $22.47 on Friday. The stock has a market cap of $2.10 billion, a PE ratio of 10.91 and a beta of 1.06. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 1.17. Sixth Street Specialty Lending, Inc. has a 52-week low of $19.50 and a 52-week high of $22.48. The business has a 50-day moving average price of $21.52 and a 200 day moving average price of $20.99.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its earnings results on Thursday, February 13th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. Sixth Street Specialty Lending had a return on equity of 13.55% and a net margin of 39.05%. Equities research analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.31 earnings per share for the current year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 2nd were given a $0.05 dividend. The ex-dividend date was Friday, November 29th. This represents a dividend yield of 7.59%. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is presently 89.32%.

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.