Strs Ohio Buys New Stake in Sixth Street Specialty Lending, Inc. $TSLX

Key Points

• Strs Ohio acquired 3,561,122 shares of Sixth Street Specialty Lending, Inc. (NYSE: TSLX), representing approximately 3.79% ownership and valued at about $79.7 million.
• Sixth Street Specialty Lending announced a quarterly dividend of $0.05 per share, with the ex-dividend date set for September 15, resulting in an annualized yield of 0.8%.
• Recent earnings reported a net margin of 39.56% and earnings per share of $0.56, surpassing analysts' estimates and contributing to an average analyst rating of "Buy" with a target price of $23.28.

Strs Ohio purchased a new stake in Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,561,122 shares of the financial services provider's stock, valued at approximately $79,698,000. Strs Ohio owned approximately 3.79% of Sixth Street Specialty Lending as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Janney Montgomery Scott LLC lifted its position in Sixth Street Specialty Lending by 108.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 276,845 shares of the financial services provider's stock worth $6,196,000 after buying an additional 144,096 shares in the last quarter. Cetera Investment Advisers lifted its position in Sixth Street Specialty Lending by 8.1% in the 1st quarter. Cetera Investment Advisers now owns 448,898 shares of the financial services provider's stock worth $10,046,000 after buying an additional 33,818 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in Sixth Street Specialty Lending by 15.3% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 435,607 shares of the financial services provider's stock worth $9,749,000 after buying an additional 57,962 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Sixth Street Specialty Lending in the 1st quarter worth approximately $201,000. Finally, Magnus Financial Group LLC purchased a new stake in Sixth Street Specialty Lending in the 1st quarter worth approximately $322,000. Hedge funds and other institutional investors own 70.25% of the company's stock.

Sixth Street Specialty Lending Stock Up 0.1%

Shares of TSLX traded up $0.03 during mid-day trading on Friday, hitting $24.69. 316,427 shares of the company's stock were exchanged, compared to its average volume of 315,307. The firm has a fifty day moving average of $24.28 and a two-hundred day moving average of $22.88. Sixth Street Specialty Lending, Inc. has a twelve month low of $18.58 and a twelve month high of $25.17. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 12.28 and a beta of 0.85. The company has a quick ratio of 3.79, a current ratio of 3.79 and a debt-to-equity ratio of 1.07.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.56 EPS for the quarter, topping the consensus estimate of $0.53 by $0.03. Sixth Street Specialty Lending had a net margin of 39.56% and a return on equity of 13.47%. The company had revenue of $115.00 million for the quarter, compared to analyst estimates of $110.42 million. During the same quarter in the prior year, the business posted $0.58 EPS. On average, sell-side analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.19 earnings per share for the current year.

Sixth Street Specialty Lending Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a $0.05 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.20 dividend on an annualized basis and a yield of 0.8%. Sixth Street Specialty Lending's dividend payout ratio (DPR) is presently 91.54%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. JMP Securities increased their target price on shares of Sixth Street Specialty Lending from $24.00 to $25.00 and gave the stock a "market outperform" rating in a research report on Wednesday, August 6th. Wells Fargo & Company increased their target price on shares of Sixth Street Specialty Lending from $21.00 to $24.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $23.28.

Sixth Street Specialty Lending Company 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.