Naviter Wealth LLC Takes $1.33 Million Position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Naviter Wealth LLC acquired a new stake in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 61,865 shares of the financial services provider’s stock, valued at approximately $1,326,000. Naviter Wealth LLC owned approximately 0.07% of Sixth Street Specialty Lending at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TSLX. Kestra Advisory Services LLC acquired a new position in shares of Sixth Street Specialty Lending during the third quarter worth about $305,000. Envestnet Asset Management Inc. boosted its position in Sixth Street Specialty Lending by 18.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 279,883 shares of the financial services provider’s stock worth $5,721,000 after acquiring an additional 43,501 shares during the last quarter. LPL Financial LLC grew its stake in shares of Sixth Street Specialty Lending by 4.7% during the 3rd quarter. LPL Financial LLC now owns 362,462 shares of the financial services provider’s stock worth $7,409,000 after acquiring an additional 16,133 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of Sixth Street Specialty Lending in the third quarter valued at approximately $381,000. Finally, Advisors Asset Management Inc. lifted its position in shares of Sixth Street Specialty Lending by 4.7% in the third quarter. Advisors Asset Management Inc. now owns 215,204 shares of the financial services provider’s stock worth $4,399,000 after purchasing an additional 9,685 shares in the last quarter. 70.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TSLX. JMP Securities reaffirmed a “market outperform” rating and issued a $22.50 target price on shares of Sixth Street Specialty Lending in a research report on Tuesday, March 26th. Keefe, Bruyette & Woods lowered their price target on 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, Sixth Street Specialty Lending has a consensus rating of “Moderate Buy” and a consensus price target of $22.67.

Sixth Street Specialty Lending Trading Up 1.7 %

TSLX opened at $21.76 on Wednesday. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 1.14. The stock has a market cap of $2.02 billion, a PE ratio of 8.77 and a beta of 1.05. The company has a fifty day moving average of $21.45 and a 200-day moving average of $21.40. Sixth Street Specialty Lending, Inc. has a twelve month low of $18.45 and a twelve month high of $22.35.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its earnings results on Wednesday, May 1st. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $118.44 million. On average, sell-side analysts predict that Sixth Street Specialty Lending, Inc. will post 2.31 EPS for the current year.

Sixth Street Specialty Lending Cuts Dividend

The firm also recently declared a dividend, which was paid on Thursday, June 20th. Shareholders of record on Monday, June 3rd were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a dividend yield of 7.63%. Sixth Street Specialty Lending’s payout ratio is currently 74.19%.

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.