Strs Ohio Buys New Holdings 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 shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & 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 about 3.79% of Sixth Street Specialty Lending as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Ameriflex Group Inc. purchased a new position in shares of Sixth Street Specialty Lending in the 4th quarter valued at approximately $27,000. AdvisorNet Financial Inc purchased a new stake in Sixth Street Specialty Lending in the 1st quarter worth approximately $40,000. Rossby Financial LCC purchased a new stake in Sixth Street Specialty Lending in the 1st quarter worth approximately $62,000. Redmont Wealth Advisors LLC purchased a new position in shares of Sixth Street Specialty Lending during the 1st quarter valued at approximately $97,000. Finally, SVB Wealth LLC purchased a new position in shares of Sixth Street Specialty Lending during the 1st quarter valued at approximately $107,000. 70.25% of the stock is owned by hedge funds and other institutional investors.

Sixth Street Specialty Lending Stock Down 0.9%

Shares of NYSE TSLX traded down $0.20 during midday trading on Tuesday, hitting $23.20. The company's stock had a trading volume of 309,551 shares, compared to its average volume of 457,658. The business's fifty day simple moving average is $24.27 and its two-hundred day simple moving average is $22.87. The company has a debt-to-equity ratio of 1.07, a current ratio of 3.79 and a quick ratio of 3.79. Sixth Street Specialty Lending, Inc. has a 1 year low of $18.58 and a 1 year high of $25.17. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 11.54 and a beta of 0.85.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.56 EPS for the quarter, beating 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 business had revenue of $115.00 million during the quarter, compared to analyst estimates of $110.42 million. During the same quarter last year, the firm posted $0.58 earnings per share. On average, equities analysts predict that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current year.

Sixth Street Specialty Lending Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.20 annualized dividend and a dividend yield of 0.9%. Sixth Street Specialty Lending's dividend payout ratio (DPR) is presently 91.54%.

Wall Street Analysts Forecast Growth

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