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

Sanctuary Advisors LLC increased its stake in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 6.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 24,168 shares of the financial services provider’s stock after acquiring 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 filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its position 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 during the period. Millennium Management LLC raised its stake in shares of Sixth Street Specialty Lending by 482.6% during the second quarter. Millennium Management LLC now owns 287,311 shares of the financial services provider’s stock worth $6,134,000 after purchasing an additional 237,995 shares during the last quarter. Progeny 3 Inc. lifted its holdings in shares of Sixth Street Specialty Lending by 10.6% during the third 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. Benjamin Edwards Inc. grew its position in Sixth Street Specialty Lending by 498.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 193,677 shares of the financial services provider’s stock valued at $3,976,000 after buying an additional 161,295 shares during the last quarter. Finally, Allen Investment Management LLC increased its stake in Sixth Street Specialty Lending by 16.4% in the 2nd quarter. Allen Investment Management LLC now owns 718,153 shares of the financial services provider’s stock valued at $15,333,000 after buying an additional 101,174 shares during the period. Institutional investors and hedge funds own 70.25% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on TSLX shares. Royal Bank of Canada restated an “outperform” rating and issued a $23.00 target price on shares of Sixth Street Specialty Lending in a research note on Tuesday, November 12th. LADENBURG THALM/SH SH raised 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. Wells Fargo & Company cut their target price on Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods decreased their price target on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Sixth Street Specialty Lending currently has an average rating of “Buy” and a consensus price target of $22.00.

Sixth Street Specialty Lending Price Performance

Shares of NYSE:TSLX opened at $21.14 on Thursday. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 10.26 and a beta of 1.06. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.50 and a quick ratio of 2.50. The business’s 50 day simple moving average is $20.78 and its 200-day simple moving average is $20.93. Sixth Street Specialty Lending, Inc. has a 12 month low of $19.50 and a 12 month high of $22.35.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. Sixth Street Specialty Lending had a return on equity of 13.55% and a net margin of 39.05%. The company had revenue of $119.22 million for the quarter, compared to analyst estimates of $119.85 million. During the same quarter in the prior year, the company earned $0.60 earnings per share. As a group, equities analysts forecast 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 firm also recently announced a dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 2nd were issued 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 (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.