Confluence Investment Management LLC Buys Shares of 243,228 Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Confluence Investment Management LLC purchased a new position in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 243,228 shares of the financial services provider’s stock, valued at approximately $5,212,000. Confluence Investment Management LLC owned approximately 0.28% of Sixth Street Specialty Lending as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Atria Wealth Solutions Inc. raised its stake in Sixth Street Specialty Lending by 17.6% during the third quarter. Atria Wealth Solutions Inc. now owns 18,180 shares of the financial services provider’s stock worth $372,000 after acquiring an additional 2,727 shares in the last quarter. HighTower Advisors LLC lifted its stake in Sixth Street Specialty Lending by 10.8% in the 3rd quarter. HighTower Advisors LLC now owns 28,436 shares of the financial services provider’s stock valued at $581,000 after purchasing an additional 2,766 shares during the last quarter. UBS Group AG boosted its position in Sixth Street Specialty Lending by 13.3% in the third quarter. UBS Group AG now owns 460,440 shares of the financial services provider’s stock valued at $9,411,000 after buying an additional 53,871 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Sixth Street Specialty Lending during the third quarter worth $305,000. Finally, Envestnet Asset Management Inc. grew its stake in shares of Sixth Street Specialty Lending by 18.4% during the third quarter. Envestnet Asset Management Inc. now owns 279,883 shares of the financial services provider’s stock worth $5,721,000 after buying an additional 43,501 shares during the last quarter. 70.25% of the stock is currently owned by institutional investors.

Sixth Street Specialty Lending Price Performance

Shares of TSLX opened at $21.18 on Wednesday. The business has a 50-day moving average of $21.37 and a 200-day moving average of $21.39. Sixth Street Specialty Lending, Inc. has a 1 year low of $18.09 and a 1 year high of $22.35. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of 8.54 and a beta of 1.04. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.03 and a quick ratio of 2.03.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.02). Sixth Street Specialty Lending had a return on equity of 13.74% and a net margin of 47.16%. The firm had revenue of $117.78 million during the quarter, compared to analyst estimates of $118.44 million. As a group, equities research analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.33 earnings per share for the current year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently declared a dividend, which will be paid on Thursday, June 20th. Shareholders of record on Monday, June 3rd will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a yield of 7.63%. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is currently 74.19%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TSLX shares. JMP Securities reissued a “market outperform” rating and set a $22.50 price objective on shares of Sixth Street Specialty Lending in a report on Tuesday, March 26th. Truist Financial boosted their price target on Sixth Street Specialty Lending from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, February 20th. Royal Bank of Canada raised their price objective on shares of Sixth Street Specialty Lending from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Finally, Keefe, Bruyette & Woods cut their target price on shares of Sixth Street Specialty Lending from $23.50 to $23.00 and set an “outperform” rating on the stock in a research report on Monday, May 6th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.67.

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.