Raymond James Financial Inc. Acquires Shares of 821,040 Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Raymond James Financial Inc. acquired a new stake in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 821,040 shares of the financial services provider’s stock, valued at approximately $17,488,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TSLX. First Horizon Advisors Inc. boosted its position in shares of Sixth Street Specialty Lending by 25.3% during the fourth quarter. First Horizon Advisors Inc. now owns 2,302 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 465 shares in the last quarter. Cornerstone Wealth Management LLC boosted its position in shares of Sixth Street Specialty Lending by 1.4% during the fourth quarter. Cornerstone Wealth Management LLC now owns 46,184 shares of the financial services provider’s stock worth $984,000 after purchasing an additional 621 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Sixth Street Specialty Lending by 7.6% during the fourth quarter. Bank of New York Mellon Corp now owns 12,811 shares of the financial services provider’s stock worth $273,000 after purchasing an additional 909 shares in the last quarter. Platform Technology Partners boosted its position in shares of Sixth Street Specialty Lending by 3.5% during the fourth quarter. Platform Technology Partners now owns 28,925 shares of the financial services provider’s stock worth $616,000 after purchasing an additional 980 shares in the last quarter. Finally, Confluence Investment Management LLC boosted its position in shares of Sixth Street Specialty Lending by 0.5% during the fourth quarter. Confluence Investment Management LLC now owns 251,182 shares of the financial services provider’s stock worth $5,350,000 after purchasing an additional 1,273 shares in the last quarter. 70.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TSLX. JPMorgan Chase & Co. lifted their price target on shares of Sixth Street Specialty Lending from $22.50 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. LADENBURG THALM/SH SH cut shares of Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a research report on Friday, February 14th. Keefe, Bruyette & Woods boosted their price objective on shares of Sixth Street Specialty Lending from $21.50 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Truist Financial boosted their price objective on shares of Sixth Street Specialty Lending from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company boosted their price objective on shares of Sixth Street Specialty Lending from $21.00 to $23.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $23.07.

Sixth Street Specialty Lending Stock Up 0.7 %

Shares of TSLX stock opened at $21.94 on Tuesday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 1.18. Sixth Street Specialty Lending, Inc. has a 1 year low of $19.50 and a 1 year high of $23.67. The firm’s fifty day moving average price is $22.27 and its two-hundred day moving average price is $21.32. The firm has a market capitalization of $2.05 billion, a P/E ratio of 10.81 and a beta of 1.08.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.04. Sixth Street Specialty Lending had a net margin of 38.67% and a return on equity of 13.47%. The firm had revenue of $123.70 million for the quarter, compared to analyst estimates of $120.07 million. On average, equities analysts predict that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The firm also recently declared a dividend, which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 3rd will be paid a $0.07 dividend. This is a positive change from Sixth Street Specialty Lending’s previous dividend of $0.05. This represents a yield of 6.99%. The ex-dividend date of this dividend is Friday, February 28th. Sixth Street Specialty Lending’s payout ratio is presently 90.64%.

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.